PROG Holdings Q1 2024: revenue $641.9M, adj EBITDA $72.6M, non-GAAP EPS $0.91; raises FY outlook

PROG Holdings, Inc.

2024-Q1 EPS reported $0.49 revenue$641,870,000

Consolidated revenue $641.9M (-2% YoY), adjusted EBITDA $72.6M (-19.1% YoY), diluted EPS $0.49; non-GAAP EPS $0.91.
Progressive Leasing GMV $418.5M flat YoY; provision for lease write-offs 7.0% within target range.
Company raises full-year 2024 revenue guidance to $2.285-$2.360B and adjusted EBITDA to $240-$255M.
Repurchased $24.4M of stock at avg price $31.31; paid $0.12 per share dividend; $475.6M remaining authorization.
Q2 2024 guidance: revenue $550-$575M, adjusted EBITDA $58-$63M, non-GAAP EPS $0.65-$0.75.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROG Holdings, Inc. reported the first quarter ended March 31, 2024 results: revenue $641.9 million, net income $22.0 million, EPS $0.49. Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: $641.9 million
Net income: $22.0 million
EPS: $0.49
Guidance: raised
Result: reported results

Exact text from the filing

PROG Holdings Reports First Quarter 2024 Results • Consolidated revenues of $641.9 million; Earnings before taxes of $31.6 million • Adjusted EBITDA of $72.6 million • Diluted EPS of $0.49; Non-GAAP Diluted EPS of $0.91

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