PROG (NYSE:PRG) Releases Earnings Results, Beats Estimates By $0.24 EPS

PROG (NYSE:PRG) posted its quarterly earnings data on Wednesday. The fintech holding company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.24, FiscalAI reports. The company had revenue of $719.72 million during the quarter, compared to analysts’ expectations of $713.50 million. PROG had a return on equity of 21.94% and a net margin of 5.88%. PROG updated its Q3 2026 guidance to 1.000-1.200 EPS and its FY 2026 guidance to 4.750-5.000 EPS.

Here are the key takeaways from PROG’s conference call:

• Q2 results exceeded expectations: Revenue reached $719.7 million, while adjusted EBITDA of $88.4 million and non-GAAP EPS of $1.19 surpassed the high end of guidance. Management raised its 2026 outlook to $3.025-$3.1 billion of revenue, $355-$375 million of adjusted EBITDA, and $4.75-$5.00 of non-GAAP EPS.
• Growth broadened across the ecosystem. Consolidated GMV rose 60% year over year; Progressive Leasing returned to 3.4% GMV growth, Four GMV more than doubled with 111% growth, and Purchasing Power delivered double-digit GMV growth.
• Four continued to scale profitably: Revenue increased 118% to $35.1 million and adjusted EBITDA reached $8.7 million, with nearly 80% growth in active shoppers and approximately 80% of GMV coming from Four+ subscribers.
• Consumer pressure remains a portfolio risk. Progressive Leasing write-offs rose to 8.4% of revenue and are expected to finish 2026 near the high end of the 6%-8% target range, reflecting inflation, higher gas prices, and pressure in furniture and appliance demand.
• Deleveraging enabled capital returns: Recourse debt fell by $50 million during the quarter, reducing net leverage to 1.7x, and the company resumed share repurchases by buying back 280,000 shares while continuing its quarterly dividend.

PROG Price Performance

NYSE PRG traded down $3.15 during trading on Wednesday, reaching $41.93. 293,418 shares of the company traded hands, compared to its average volume of 513,055. PROG has a 1-year low of $25.80 and a 1-year high of $47.73. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 11.47 and a beta of 1.78. The stock’s 50 day moving average price is $40.61 and its two-hundred day moving average price is $35.22. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.41 and a current ratio of 4.27.

PROG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 19th. PROG’s payout ratio is presently 15.30%.

PROG News Roundup

Here are the key news stories impacting PROG this week:

• Positive Sentiment: PROG reported second-quarter EPS of $1.19, surpassing the $0.95 consensus estimate by $0.24. Revenue was $719.72 million, also ahead of the $713.50 million consensus. MarketBeat quarterly earnings report
• Positive Sentiment: Management raised or reaffirmed a constructive full-year outlook, projecting 2026 EPS of $4.75 to $5.00 versus the $4.66 analyst consensus, and revenue of approximately $3.0 billion to $3.1 billion. PROG Holdings second-quarter results
• Positive Sentiment: The quarter included Purchasing Power, acquired on January 2, 2026, and management characterized performance as strong, with revenue toward the high end of its outlook and adjusted EBITDA and non-GAAP results benefiting from the business combination. PROG Holdings second-quarter results
• Neutral Sentiment: Third-quarter EPS guidance of $1.00 to $1.20 brackets the $1.05 consensus estimate, suggesting results could be broadly in line with expectations.
• Negative Sentiment: Third-quarter revenue guidance of $715 million to $750 million has a midpoint below the $746.7 million consensus, potentially signaling slower near-term growth than analysts anticipated.
• Negative Sentiment: Investors continue to monitor consumer financial pressure and write-offs, risks previously identified ahead of the earnings release, even as leasing demand and Four Technologies growth improve. Zacks PROG Holdings earnings preview

Institutional Trading of PROG

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of PROG by 23.4% in the 1st quarter. Royal Bank of Canada now owns 35,910 shares of the fintech holding company’s stock worth $955,000 after purchasing an additional 6,807 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in PROG by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the fintech holding company’s stock valued at $648,000 after purchasing an additional 1,162 shares during the last quarter. Millennium Management LLC boosted its position in PROG by 62.7% in the first quarter. Millennium Management LLC now owns 673,405 shares of the fintech holding company’s stock valued at $17,913,000 after buying an additional 259,630 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in PROG by 5.4% in the first quarter. Goldman Sachs Group Inc. now owns 313,611 shares of the fintech holding company’s stock valued at $8,342,000 after buying an additional 16,126 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in PROG during the first quarter worth about $233,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PRG. Jefferies Financial Group upgraded shares of PROG from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $33.00 to $60.00 in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of PROG from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Zacks Research downgraded PROG from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Wall Street Zen cut PROG from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price objective on shares of PROG in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.36.

PROG Company Profile

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.