Financial Data and Key Metrics Changes - Q3 revenue for PROG Holdings was $625.8 million, a decrease of 3.8% compared to $650.4 million in the year-ago period [24] - Adjusted EBITDA for Q3 was $65 million, or 10.4% of revenues, down from $93.6 million, or 14.4% of revenues in the same period last year [24] - GAAP diluted EPS was $0.32, while non-GAAP EPS came in at $0.68 [25] - The accounts receivable provision increased to $104.3 million for Q3 2022 from $61.5 million for Q3 2021, reflecting higher delinquencies year-over-year [21] Business Line Data and Key Metrics Changes - Q3 GMV for the Progressive Leasing segment was down 11.3% year-over-year, primarily due to macroeconomic factors and tighter decisioning [20] - Progressive Leasing revenue was $606.6 million in Q3, a 4.5% decrease from $635 million in the year-ago period [21] - Progressive Leasing write-offs were $43.5 million, or 7.2% of revenues, compared to $34.2 million, or 5.4% of revenues in the year-ago period [22] Market Data and Key Metrics Changes - E-commerce accounted for 16.5% of total Q3 GMV, up from 14.5% for the same period last year [10] - Retail traffic remains down, with several large partners posting double-digit negative comps [12] - The company experienced weak consumer demand across most retail verticals, contributing to the negative GMV comp [11][13] Company Strategy and Development Direction - The company is focused on increasing its balance of share with key retailers and expanding its e-commerce partnerships [10][11] - Management emphasized the importance of technological innovations and pipeline conversions to mitigate macroeconomic headwinds [15][17] - The company has lowered its full-year 2022 financial outlook due to ongoing challenges in the macro environment [26] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment remains challenging, with expectations for Q4 GMV to be similar to Q3's year-over-year percentage decline [16] - The company is optimistic about converting more retail partners from its pipeline over the next several years [11] - Management highlighted the strength of the business model, demonstrating effective portfolio management and cash flow generation even in a difficult environment [18] Other Important Information - The company ended September with a cash position of $222 million and has reduced its outstanding share count by 27% since the beginning of 2021 [16][25] - During Q3, the company repurchased 588,000 shares, with $373.5 million remaining under its $1 billion share repurchase program [25] Q&A Session Summary Question: Impact of GMV Deceleration - Management indicated that GMV pressures were primarily due to macroeconomic weakness and decisioning changes made throughout Q2, with more than 50% of Q3's decline attributed to decisioning [29][30] Question: Prospects for GMV Recovery - Management expressed that recovery in consumer demand is difficult to predict, but they remain encouraged by their ability to execute growth initiatives despite the challenging retail environment [31][34] Question: Competitive Environment - Management noted that the challenging environment provides opportunities to demonstrate the strength of their business model and to capture market share from smaller competitors facing funding issues [35][36] Question: Accounts Receivable Provision Dynamics - Management explained that the accounts receivable provision is still heavily weighted towards the old portfolio, but they expect relief as newer decisioning practices take effect [41][42] Question: Write-off Rates and Future Expectations - Management stated that they expect write-offs in Q4 to be similar to Q3 levels, aiming for the high end of their annual target range of 6% to 8% [76][77] Question: Retail Partner Pipeline - Management confirmed that the current retail environment is conducive for their flexible payment solutions, and they are optimistic about converting their pipeline into partnerships [51][52] Question: Operating Expenses and Flexibility - Management indicated that while SG&A expenses may tick up in Q4 due to seasonal factors, they maintain a highly variable cost structure that allows for flexibility [66][68]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________ FORM 10-Q ________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED September 30, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 1-39628 ________________________________ PROG HOLDINGS, INC. (Exact name of r ...

PROG Holdings Inc. (NYSE:PRG) Q2 2022 Results Conference Call July 27, 2022 8:30 AM ET Company Participants Brian Garner - CFO John Baugh - VP, IR Steve Michaels - President, CEO Conference Call Participants Alessandra Jimenez - Raymond James Anthony Chukumba - Loop Capital Brad Thomas - KeyBanc Capital Markets Hal Goetsch - Loop Capital Jason Haas - Bank of America Kyle Joseph - Jefferies Vincent Caintic - Stephens Operator Good morning and welcome to the PROG Holdings, Inc., Second Quarter 2022 Earnings ...

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2022 OR WASHINGTON, D.C. 20549 ________________________________ FORM 10-Q ________________________________ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION FOR THE TRANSITION PERIOD FROM TO Securities registered pursuant to Section 12(b) of the Act: Common Stock, $0.50 Par Value PRG New York St ...

Financial Data and Key Metrics Changes - Q1 consolidated revenues decreased by 1.5% year-over-year, amounting to $710.5 million compared to $721 million in the previous year [27] - Adjusted EBITDA for Q1 was $64.6 million, representing a margin of 9.1%, down from $118.1 million or 16.4% in the same period last year [27] - GAAP diluted EPS was $0.49, while non-GAAP EPS was $0.57 [28] Business Line Data and Key Metrics Changes - Progressive Leasing's revenue was $692.9 million, a 2.1% decrease from $708 million in the prior year [21] - The gross leased asset balance increased by 17.6%, which is expected to drive stronger revenue in the latter half of the year [13][22] - Write-offs for Progressive Leasing were $50.3 million, or 7.3% of revenue, compared to $18.6 million and 2.6% in the previous year [25] Market Data and Key Metrics Changes - Progressive Leasing's GMV declined by 1.1% year-over-year, with e-commerce GMV growing by 10% year-over-year, representing 15.9% of total GMV in Q1 [12] - The company anticipates that the macroeconomic environment will remain challenging but believes it can capture a larger share of the underserved market [18] Company Strategy and Development Direction - The company is focusing on several initiatives to increase GMV, including co-branded marketing campaigns and enhanced customer experience [11] - The management believes that the current economic environment presents an opportunity to capture a larger share of the market as consumers seek flexible payment solutions [18] - The company is committed to investing in technology and product development to enhance its offerings and maintain competitive advantage [67] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that Q1 results represent the low point for EBITDA margins and GMV growth for the year [11] - The company expects write-offs to remain within the targeted annual range of 6% to 8% for 2022 [15] - Management noted that the business has shown resilience in various economic cycles and anticipates growth opportunities in the current environment [18] Other Important Information - The company repurchased approximately $78.1 million of its common stock during Q1, with $482.8 million remaining under its $1 billion share repurchase program [29] - The company ended the quarter with $600 million in gross debt and $184 million in cash, resulting in a net leverage of approximately 1.2 times trailing 12-month adjusted EBITDA [28] Q&A Session Summary Question: Can you provide more details on the new e-commerce retail partner? - Management indicated that the new partner is Wayfair, which presents a significant opportunity for growth [59] Question: How do you expect the year to shape up, particularly for Q2? - Management expects Q2 to show improvement but noted that the most significant acceleration will occur in the back half of the year [49][53] Question: What are the implications of the tax refund season on results? - Management described the tax season as muted this year, with typical behaviors observed but difficult to separate from the impact of prior stimulus [85] Question: What percentage of customers are repeat customers? - Approximately 50% of leases originated in any given period are from repeat customers, an increase from the mid-30s percentage a few years ago [94]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________ FORM 10-Q ________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 1-39628 ________________________________ PROG HOLDINGS, INC. (Exact name of regis ...

PROG Holdings, Inc. (NYSE:PRG) Q4 2021 Earnings Conference Call February 23, 2022 8:30 AM ET Company Participants John Baugh - IR Steve Michaels - CEO Brian Garner - CFO Conference Call Participants Kyle Joseph - Jefferies Jason Haas - Bank of America Bobby Griffin - Raymond James Anthony Chukumba - Loop Capital Brad Thomas - KeyBanc Michael Young - Truist Vincent Caintic - Stephens Operator Good morning and welcome to PROG Holdings Inc.'s Fourth Quarter and Fiscal Year 2021 Financial Results Conference Cal ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission file Number. 1-39628 PROG HOLDINGS, INC. (Exact name of registrant as specified in its charter) Georgia 85-2484385 (State or other jurisdiction of in ...

PROG Holdings, Inc. (NYSE:PRG) Q3 2021 Earnings Conference Call November 3, 2021 8:30 AM ET Company Participants John Baugh - Vice President of Investor Relations Steve Michaels - Chief Executive Officer Brian Garner - Chief Financial Officer Conference Call Participants Anthony Chukumba - Loop Capital Kyle Joseph - Jefferies Jason Haas - Bank of America Bobby Griffin - Raymond James Brad Thomas - KeyBanc Capital Markets Vincent Caintic - Stephens Inc. Hal Goetsch - Loop Capital Markets Operator Good day an ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________ FORM 10-Q ________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 1-39628 ________________________________ Securities registered pursuant to Se ...