NYSE$PRG
Prog Holdings Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Exceeded expectations and raised full-year financial outlook.
PROG Holdings reported consolidated revenues of $592.8 million and net earnings of $37.2 million for Q2 2023. The company's adjusted EBITDA increased by 44% year-over-year to $75.0 million, and diluted EPS was $0.79, with non-GAAP diluted EPS reaching $0.92, a 76.9% increase year-over-year.
- Consolidated revenues reached $592.8 million.
- Earnings before taxes totaled $52.0 million.
- Adjusted EBITDA increased 44% year-over-year to $75.0 million.
- Non-GAAP Diluted EPS increased 76.9% year-over-year to $0.92.
Headline financials
Revenue & EPS history
Prog Holdings · Revenue · Quarterly
$593M
Revenue by segment
Prog Holdings · $576M total across 2 segments · Q2 2023
- Progressive Leasing$575M-8.9%99.9%
- Other$820K+40.9%0.1%
Forward guidance
The Company is revising upwards its full year earnings and revenue outlook and providing a Q3 2023 outlook for revenues, net earnings, adjusted EBITDA, GAAP diluted EPS, and non-GAAP diluted EPS.
Tailwinds
- Improved gross margins from strong portfolio management are expected to continue.
- Total Revenues between $2,360,000 and $2,390,000
- Net Earnings between $125,500 and $133,000
- Adjusted EBITDA between $270,000 and $280,000
- Diluted EPS between $2.64 and $2.80
Headwinds
- Assumes a difficult operating environment with continued soft demand for consumer durable goods.
- Assumes no material changes in the Company's decisioning posture or portfolio performance.
- Assumes no impact from additional share purchases.
- Total Revenues between $560,000 and $575,000 for Q3 2023
- Net Earnings between $21,500 and $25,500 for Q3 2023
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.6%
Avg return
Earnings day
+3.2%
Avg return
5 days after
+5.3%
Avg return
30 days after
57%
36 / 63 earnings
Positive
+24.2%
Q1 2020
Best reaction
-43.1%
Q1 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.1% | +24.2% | +26.6% | |
| Q4 2025 | +6.6% | +12.7% | -18.1% | |
| Q3 2025 | -0.8% | -3.5% | -14.1% | |
| Q1 2025 | -7.0% | -2.6% | +6.5% | |
| Q3 2024 | -8.7% | -8.6% | +1.0% | |
| Q2 2024 | +22.2% | +29.9% | +36.4% | |
| Q1 2024 | +6.6% | +5.2% | +8.3% | |
| Q4 2023 | -11.3% | -9.2% | +6.7% | |
| Q3 2023 | -0.4% | -2.6% | -4.4% | |
| Q2 2023 | +14.9% | +11.9% | -7.3% | |
| Q1 2023 | +17.6% | +17.2% | +29.6% | |
| Q4 2022 | +5.9% | +8.4% | +1.2% | |
| Q3 2022 | +11.8% | +16.3% | +33.3% | |
| Q2 2022 | +8.3% | +16.3% | +10.7% | |
| Q1 2022 | +2.0% | +2.4% | +6.3% | |
| Q4 2021 | -12.8% | -14.2% | -19.1% | |
| Q3 2021 | +13.0% | +14.0% | +9.6% | |
| Q2 2021 | -3.7% | -6.0% | +5.1% | |
| Q1 2021 | +3.1% | +8.4% | +6.7% | |
| Q4 2020 | +0.8% | -2.2% | -9.3% | |
| Q3 2020 | -4.5% | +1.6% | +18.2% | |
| Q2 2020 | +16.8% | +14.2% | +26.0% | |
| Q1 2020 | +24.2% | +14.2% | +58.2% | |
| Q4 2019 | -22.8% | -24.0% | -73.3% | |
| Q3 2019 | -11.6% | -21.3% | -22.1% | |
| Q2 2019 | -1.4% | -2.8% | -4.4% | |
| Q1 2019 | +7.1% | +4.5% | +2.2% | |
| Q4 2018 | +5.2% | +4.6% | +2.5% | |
| Q3 2018 | -6.0% | -4.6% | +0.9% | |
| Q2 2018 | -0.1% | -0.5% | +16.0% | |
| Q1 2018 | -7.4% | -10.7% | -9.5% | |
| Q4 2017 | +7.6% | +5.5% | +19.8% | |
| Q3 2017 | -12.2% | -14.9% | -16.1% | |
| Q2 2017 | +13.9% | +13.1% | +8.8% | |
| Q1 2017 | +14.4% | +16.2% | +11.9% | |
| Q4 2016 | -8.6% | -8.3% | +1.9% | |
| Q3 2016 | +9.2% | +9.6% | +30.8% | |
| Q2 2016 | +9.8% | +8.5% | +12.7% | |
| Q1 2016 | +3.9% | — | — | |
| Q4 2015 | -6.0% | — | — | |
| Q3 2015 | -24.3% | — | — | |
| Q2 2015 | -9.2% | — | — | |
| Q1 2015 | +14.5% | — | — | |
| Q4 2014 | +1.6% | — | — | |
| Q3 2014 | -4.1% | — | — | |
| Q2 2014 | +0.8% | — | — | |
| Q1 2014 | +0.6% | — | — | |
| Q4 2013 | +0.4% | — | — | |
| Q3 2013 | +0.2% | — | — | |
| Q2 2013 | +1.4% | — | — | |
| Q1 2013 | -1.3% | — | — | |
| Q4 2012 | +3.8% | — | — | |
| Q3 2012 | -1.2% | — | — | |
| Q2 2012 | +0.8% | — | — | |
| Q1 2012 | +0.7% | — | — | |
| Q4 2011 | -0.2% | — | — | |
| Q3 2011 | -4.2% | — | — | |
| Q2 2011 | +2.3% | — | — | |
| Q1 2011 | +1.7% | — | — | |
| Q4 2010 | +2.2% | — | — | |
| Q3 2010 | -1.4% | — | — | |
| Q2 2010 | -4.7% | — | — | |
| Q1 2010 | -43.1% | — | — |
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