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Mar 31, 2023
Prog Holdings Q1 2023 Earnings Report
Exceeded first quarter 2023 expectations and raised full-year earnings outlook.
Key Takeaways
PROG Holdings reported consolidated revenues of $655.1 million and net earnings of $48.0 million for the first quarter of 2023. The company's adjusted EBITDA increased by 38.9% year-over-year. Diluted EPS was $1.00, and non-GAAP diluted EPS was $1.11, up 94.7% year-over-year.
Consolidated revenues reached $655.1 million, with earnings before taxes at $67.6 million.
Adjusted EBITDA increased by 38.9% year-over-year to $89.7 million.
Diluted EPS stood at $1.00, while Non-GAAP Diluted EPS rose by 94.7% year-over-year to $1.11.
Progressive Leasing write-offs decreased to 6.0%, down from 7.3% in Q1 2022.
Revenue by Segment
Forward Guidance
The Company is revising upwards its full year earnings outlook, lowering modestly our revenue expectations, and providing a Q2 2023 outlook for revenues, net earnings, adjusted EBITDA, GAAP diluted EPS, and non-GAAP diluted EPS.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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