PROG (NYSE:PRG) Posts Earnings Results, Beats Estimates By $0.24 EPS

Posted by on Jul 29th, 2026

PROG (NYSE:PRG – Get Free Report) posted its earnings results on Wednesday. The fintech holding company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.24, FiscalAI reports. The company had revenue of $719.72 million for the quarter, compared to analyst estimates of $713.50 million. PROG had a return on equity of 21.94% and a net margin of 5.88%. PROG updated its Q3 2026 guidance to 1.000-1.200 EPS and its FY 2026 guidance to 4.750-5.000 EPS.

Here are the key takeaways from PROG’s conference call:

  • Q2 results exceeded expectations: Revenue reached $719.7 million, while adjusted EBITDA of $88.4 million and non-GAAP EPS of $1.19 surpassed the high end of guidance. Management raised its 2026 outlook to $3.025-$3.1 billion of revenue, $355-$375 million of adjusted EBITDA, and $4.75-$5.00 of non-GAAP EPS.
  • Growth broadened across the ecosystem. Consolidated GMV rose 60% year over year; Progressive Leasing returned to 3.4% GMV growth, Four GMV more than doubled with 111% growth, and Purchasing Power delivered double-digit GMV growth.
  • Four continued to scale profitably: Revenue increased 118% to $35.1 million and adjusted EBITDA reached $8.7 million, with nearly 80% growth in active shoppers and approximately 80% of GMV coming from Four+ subscribers.
  • Consumer pressure remains a portfolio risk. Progressive Leasing write-offs rose to 8.4% of revenue and are expected to finish 2026 near the high end of the 6%-8% target range, reflecting inflation, higher gas prices, and pressure in furniture and appliance demand.
  • Deleveraging enabled capital returns: Recourse debt fell by $50 million during the quarter, reducing net leverage to 1.7x, and the company resumed share repurchases by buying back 280,000 shares while continuing its quarterly dividend.

PROG Price Performance

Shares of NYSE:PRG traded down $3.05 during midday trading on Wednesday, hitting $42.03. The company had a trading volume of 612,927 shares, compared to its average volume of 515,124. The business’s 50-day simple moving average is $40.61 and its 200-day simple moving average is $35.22. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 11.43 and a beta of 1.78. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.27 and a quick ratio of 2.41. PROG has a twelve month low of $25.80 and a twelve month high of $47.73.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 19th. PROG’s dividend payout ratio (DPR) is currently 15.30%.

PROG News Summary

Here are the key news stories impacting PROG this week:

  • Positive Sentiment: PROG reported second-quarter earnings of $1.19 per share, well above the $0.95-$0.96 analyst consensus and up from $1.02 a year earlier. Revenue reached $719.72 million, also exceeding the roughly $713.5 million consensus estimate. PROG Holdings Surpasses Q2 Earnings and Revenue Estimates
  • Positive Sentiment: Management maintained an upbeat view of the business, citing second-quarter revenue toward the higher end of its outlook. The results included Purchasing Power, acquired on January 2, 2026, expanding PROG’s reported operations. PROG Holdings Reports Second Quarter 2026 Results
  • Positive Sentiment: Full-year 2026 EPS guidance of $4.75-$5.00 is above the $4.66 analyst consensus, while full-year revenue guidance of $3.0 billion-$3.1 billion is broadly in line with expectations. PROG Holdings Reports Second Quarter 2026 Results
  • Neutral Sentiment: The earnings release reflects improving leasing demand and growth at Four Technologies, but analysts continue to monitor write-offs and pressure on consumers’ financial health. PROG Holdings Q2 Preview
  • Negative Sentiment: Third-quarter revenue guidance of $715 million-$750 million has a midpoint of $732.5 million, below the $746.7 million consensus estimate. Although the Q3 EPS range of $1.00-$1.20 brackets a consensus estimate of $1.05, the softer revenue outlook likely weighed on the stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PRG shares. Stephens lifted their price objective on shares of PROG from $40.00 to $47.50 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 price target on shares of PROG in a research report on Thursday, April 30th. Wall Street Zen cut PROG from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Zacks Research lowered shares of PROG from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, TD Cowen upped their price target on PROG from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, PROG has an average rating of “Moderate Buy” and an average target price of $47.36.

Get Our Latest Stock Report on PROG

Hedge Funds Weigh In On PROG

Several large investors have recently modified their holdings of the business. Quarry LP grew its holdings in shares of PROG by 82.8% in the fourth quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock valued at $33,000 after purchasing an additional 506 shares in the last quarter. WealthCollab LLC boosted its holdings in shares of PROG by 28.1% in the 3rd quarter. WealthCollab LLC now owns 2,680 shares of the fintech holding company’s stock valued at $87,000 after buying an additional 588 shares in the last quarter. Swiss National Bank lifted its position in PROG by 0.9% in the third quarter. Swiss National Bank now owns 78,200 shares of the fintech holding company’s stock valued at $2,531,000 after acquiring an additional 700 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in PROG by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the fintech holding company’s stock valued at $648,000 after acquiring an additional 1,162 shares in the last quarter. Finally, Vident Advisory LLC boosted its position in shares of PROG by 7.7% in the 3rd quarter. Vident Advisory LLC now owns 18,880 shares of the fintech holding company’s stock valued at $611,000 after purchasing an additional 1,349 shares during the period. Institutional investors and hedge funds own 97.92% of the company’s stock.

About PROG

(Get Free Report)

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.

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Earnings History for PROG (NYSE:PRG)

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