PROG Holdings Inc (FRA:AZD)

Q1 2026 PROG Holdings Inc Earnings Call Transcript

Apr 29, 2026 / 12:30 PM GMT

Release Date Price: €24.4 (-4.69%)

Transcript 10-Q8-K

Key Points

Positve

PROG Holdings Inc (PRG) delivered a strong first quarter, with results exceeding the high end of their revenue and earnings outlook.
Consolidated GMV grew 54% year-over-year, driven by the addition of Purchasing Power and triple-digit growth at Four.
The company achieved double-digit GMV growth at Purchasing Power, reinforcing its strategic role within the ecosystem.
Four's GMV for the quarter was 134% higher year-over-year, with customer demand for the BNPL product remaining robust.
PROG Holdings Inc (PRG) successfully reduced its net leverage ratio to 2 times, aligning with its long-term target range of 1.5 to 2 times.

Negative

Progressive Leasing's GMV for the first quarter was 2.2% below the same period last year, reflecting challenges from previous tightening actions and the bankruptcy of Big Lots.
Revenue for the Progressive Leasing segment declined by 8.4% year-over-year due to a smaller average lease portfolio.
The consumer environment remains challenging, with elevated gas prices and increased macroeconomic uncertainty impacting customer behavior.
The company faces ongoing pressure from discretionary consumer demand, which remains pressured across several categories.
Purchasing Power's adjusted EBITDA was near break-even, indicating that it is still in the early stages of realizing its full margin potential.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PRG.N - PROG Holdings Inc
Q1 2026 PROG Holdings Inc Earnings Call
Apr 29, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, and thank you for standing by. Welcome to the Prague Holdings Q1 Earnings Conference Call.

At this time, all participants are in listen-only mode.

At this speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, you will need to press *11 on your telephone. You will then hear automated message advising your hand is raised. To withdraw your question, please press *11 again. Please be advised that today's conference is being recorded. I would like to hand the conference over to your first speaker today, John Ball, Vice President of Investor Relations. Please go ahead.

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