Earnings summaries and quarterly performance for PROG Holdings.
Executive leadership at PROG Holdings.
Board of directors at PROG Holdings.
Research analysts who have asked questions during PROG Holdings earnings calls.
Anthony Chukumba
Loop Capital Markets LLC
6 questions for PRG
Also covers: ASO, BBY, EYE +8 more
HN
Hoang Nguyen
TD Cowen
6 questions for PRG
Also covers: PROG, UPBD
JH
John Hecht
Jefferies
5 questions for PRG
Also covers: AFRM, ARCC, BFH +23 more
KJ
Kyle Joseph
Jefferies
5 questions for PRG
Also covers: AFRM, CACC, CRMT +14 more
VC
Vincent Caintic
Stephens Inc.
5 questions for PRG
Also covers: AFRM, BFH, CRMT +9 more
Bradley Thomas
KeyBanc Capital Markets Inc.
3 questions for PRG
Also covers: CENT, ETD, FIVE +10 more
Brad Thomas
KeyBanc Capital Markets
3 questions for PRG
Also covers: CASY, CENT, ETD +10 more
Robert Griffin
Raymond James & Associates, Inc.
3 questions for PRG
Also covers: ARKO, CASY, LEG +7 more
BG
Bobby Griffin
Raymond James Financial
2 questions for PRG
Also covers: ARKO, CASY, DLTR +11 more
Alessandra Jimenez
Raymond James & Associates, Inc.
1 question for PRG
Also covers: LEG, SNBR
Recent press releases and 8-K filings for PRG.
PROG Holdings Completes Purchasing Power Acquisition
PRG
M&A
Debt Issuance
- PROG Holdings, Inc. completed its acquisition of Purchasing Power on January 2, 2026.
- The acquisition was for $420 million in cash, funded through a combination of cash on hand, a $125 million incremental term loan, and $135 million in revolving borrowings.
- Purchasing Power, now a wholly owned subsidiary, expands PROG Holdings' reach through over 360 employer partnerships and provides access to more than 7 million employees.
- The acquired entity has approximately $330 million of non-recourse funding debt that remained in place.
- The transaction also involved revisions to financial covenants, including an increase in the maximum permitted total net leverage ratio to 3.25x during fiscal year 2026 and 3.00x during fiscal year 2027.
Jan 2, 2026, 10:08 PM
PROG Holdings Completes Purchasing Power Acquisition
PRG
M&A
New Projects/Investments
- PROG Holdings, Inc. (NYSE: PRG) completed its acquisition of Purchasing Power on January 2, 2026.
- The acquisition expands PROG Holdings' reach to more than 7 million employees through an employer-based channel, adding over 360 employer partnerships.
- PROG Holdings acquired Purchasing Power for $420 million in cash, funded through a combination of cash on hand and debt financing.
Jan 2, 2026, 3:19 PM
PROG Holdings to Acquire Purchasing Power
PRG
M&A
New Projects/Investments
Guidance Update
- PROG Holdings has entered into a definitive agreement to acquire Purchasing Power for $420 million in cash, with the transaction expected to close in early 2026.
- The acquisition will be funded by approximately $175 million of cash on hand and roughly $260 million in incremental borrowing, while approximately $330 million of Purchasing Power's non-recourse funding debt will remain in place.
- Purchasing Power is an e-commerce-based platform that enables customers to purchase goods and services and pay over time through direct payroll deduction, serving over 7 million employees nationwide across 360+ employers, including 48 Fortune 500 companies.
- For 2026, Purchasing Power is expected to generate revenue in the range of $680 million - $730 million and adjusted little i EBITDA between $50 million - $60 million.
- The acquisition is anticipated to add new capabilities, established partners, and millions of eligible customers to the PROG ecosystem, creating opportunities for revenue and cost synergies, and enhancing PROG's competitive positioning.
Dec 2, 2025, 1:30 PM
PROG Holdings to Acquire Purchasing Power
PRG
M&A
New Projects/Investments
Guidance Update
- PROG Holdings has entered into a definitive agreement to acquire Purchasing Power for $420 million in cash. Approximately $330 million of Purchasing Power's non-recourse funding debt will remain in place, and the transaction is expected to close in early 2026.
- The acquisition is anticipated to add new capabilities, established partners, and millions of eligible customers to the PROG ecosystem, creating opportunities for revenue and cost synergies. Purchasing Power's B2B2C operating model, which utilizes direct payroll deduction, closely mirrors Progressive Leasing's approach and helps reduce payment default risk.
- For 2026, Purchasing Power is expected to generate revenue in the range of $680 million-$730 million and adjusted little i EBITDA between $50 million-$60 million. This outlook includes some cost synergies but little to no revenue synergies.
- Purchasing Power operates an e-commerce platform allowing customers to purchase goods and services and pay over time via direct payroll deduction. It serves over 7 million employees nationwide through relationships with over 360 employers, including 48 Fortune 500 companies.
Dec 2, 2025, 1:30 PM
PROG Announces Acquisition Details and Financial Impact
PRG
M&A
Guidance Update
New Projects/Investments
- PROG has announced an acquisition with a $420 million all-cash purchase price, funded by ~$175 million cash from its balance sheet and ~$260 million incremental borrowing, with ~$330 million of non-recourse funding debt remaining in place.
- The transaction is projected to deliver double-digit percentage EPS accretion in 2026, with anticipated pro forma revenue between $680 million and $730 million and Adjusted EBITDA between $50 million and $60 million for 2026.
- The acquisition is anticipated to close in early 2026, subject to regulatory approvals, and PROG expects to de-lever post-transaction towards a target net leverage range of 1.5x – 2.0x.
Dec 2, 2025, 1:30 PM
PROG Holdings to Acquire Purchasing Power
PRG
M&A
New Projects/Investments
Guidance Update
- PROG Holdings has entered into a definitive agreement to acquire Purchasing Power, a business highly aligned with PROG's mission that expands its ecosystem with new capabilities, established partners, and millions of eligible customers.
- The acquisition is for $420 million in cash, with approximately $330 million of Purchasing Power's non-recourse funding debt remaining in place. The transaction is expected to close in early 2026.
- Purchasing Power operates an e-commerce platform enabling customers to purchase goods and services and pay over time through direct payroll deduction, serving over 7 million employees through relationships with over 360 employers, including 48 Fortune 500 companies.
- For 2026, Purchasing Power is expected to generate revenue in the range of $680 million-$730 million and adjusted little i EBITDA between $50 million-$60 million. These projections include some cost synergies but no revenue synergies.
Dec 2, 2025, 1:30 PM
PROG Holdings, Inc. Announces Acquisition of Purchasing Power
PRG
M&A
Guidance Update
New Projects/Investments
- PROG Holdings, Inc. has agreed to acquire Purchasing Power for $420 million in cash, with the transaction expected to close in early 2026.
- The acquisition is projected to contribute between $680 million and $730 million in revenue and $50 million and $60 million of Adjusted EBiTDA in 2026.
- The transaction is anticipated to be double-digit percentage EPS accretive in 2026.
- PROG Holdings will fund the acquisition using ~$175 million cash on hand and ~$260 million in incremental debt financing.
Dec 2, 2025, 1:16 PM
PROG Holdings Reports Mixed Q3 2025 Financial Results
PRG
Earnings
Guidance Update
Demand Weakening
- PROG Holdings reported Q3 2025 revenue of $595.11 million, a 1.8% decline year-over-year, yet it surpassed market expectations.
- Net income significantly dropped to $33.12 million in Q3 2025 from $83.96 million a year ago, though adjusted earnings of $0.90 per share were 21.6% above analyst consensus.
- The Four Technologies buy now, pay later platform achieved its eighth consecutive quarter of triple-digit growth in both gross merchandise volume and revenue.
- The company's full-year revenue guidance midpoint of $2.42 billion is 2.1% below analysts’ estimates, but its adjusted EPS guidance of $3.40 at the midpoint beats analyst estimates by 2%.
Oct 22, 2025, 12:38 PM
PRG Holdings Announces Strong Q3 2025 Results and VIVE Portfolio Sale
PRG
Earnings
Guidance Update
M&A
- PRG Holdings reported strong Q3 2025 results, with non-GAAP diluted EPS of $0.90 exceeding its outlook, consolidated revenue of $595.1 million, and adjusted EBITDA of $67 million.
- The company announced the sale of its VIVE Financial credit card receivables portfolio for approximately $150 million, leading to a revised 2025 full-year consolidated outlook of $2.41 billion to $2.435 billion in revenue, $258 million to $265 million in adjusted EBITDA, and $3.35 to $3.45 in non-GAAP EPS.
- Progressive Leasing maintained strong portfolio performance with Q3 write-offs at 7.4%, while the Four Technologies BNPL platform continued its rapid growth with triple-digit revenue and GMV expansion and $11.1 million in year-to-date adjusted EBITDA. PRG ended Q3 with $292.6 million in cash and a 1.1 times net leverage ratio.
Oct 22, 2025, 12:30 PM
PROG Holdings Reports Strong Q3 2025 Results and Announces VIVE Portfolio Sale
PRG
Earnings
Guidance Update
M&A
- PROG Holdings reported Q3 2025 non-GAAP diluted EPS of $0.90, surpassing its outlook range of $0.70 to $0.75 per share, and consolidated revenue of $595.1 million.
- The company announced the sale of its VIVE Financial Credit Card Receivables Portfolio to Atlanticus Holdings Corporation for approximately $150 million, with the transaction to be reflected in Q4 financial results as discontinued operations.
- Progressive Leasing's GMV declined 10% year-over-year to $410.9 million, primarily due to the Big Lots bankruptcy and intentional tightening actions, while Four Technologies continued its strong performance with triple-digit revenue and GMV growth.
- PROG Holdings updated its full-year 2025 consolidated outlook, projecting revenues between $2.41 billion and $2.435 billion, adjusted EBITDA between $258 million and $265 million, and non-GAAP EPS between $3.35 and $3.45, reflecting the VIVE divestiture.
- The company ended Q3 with $292.6 million in cash and a net leverage ratio of 1.1 times, and has $309.6 million remaining under its share repurchase authorization.
Oct 22, 2025, 12:30 PM
Quarterly earnings call transcripts for PROG Holdings.
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