The massive EPS beat and raised guidance signal strong operational momentum, particularly at Four and Purchasing Power. Expect positive price reaction at open. Monitor Progressive Leasing's revenue trajectory and debt reduction progress. The raised guidance provides a catalyst for upward estimate revisions.
Price Chart
Executive Summary
PROG Holdings reported Q1 2026 non-GAAP diluted EPS of $1.24, a 58.9% beat vs consensus of $0.78, and revenue of $742.7M (+1.36% vs $732.7M estimate). The company raised full-year 2026 guidance across revenue, EPS, and Adjusted EBITDA, citing momentum at Four (BNPL) and Purchasing Power acquisition. Progressive Leasing revenue declined 8.4% but earnings improved.
Key Financial Metrics
Key Facts
- Non-GAAP diluted EPS from continuing ops $1.24 vs consensus $0.78 (beat 58.9%)
- Consolidated revenue $742.7M vs $732.7M estimate (beat 1.36%)
- Full-year 2026 guidance raised: revenue $3.0B-$3.1B (prev $2.95B-$3.07B); non-GAAP EPS $4.40-$4.80 (prev $4.00-$4.45)
- Consolidated GMV up 54.4% to $805.6M; Four GMV up 133.6%
- Progressive Leasing segment revenue -8.4% YoY but EBT +6.9%; GMV -2.2% but returned to growth exiting quarter
- Net leverage reduced to 2.0x; $210M net recourse debt reduction since Purchasing Power acquisition
Financial Impact
Non-GAAP EPS beat by $0.46 (58.9%) and revenue beat by $10M (1.36%); full-year guidance raised by $0.40-$0.35 at midpoint for EPS and $50M-$30M for revenue
Risk Factors
- Progressive Leasing revenue continued to decline 8.4% YoY; GMV down 2.2%
- High leverage from Purchasing Power acquisition (gross debt $943.7M)
- Macro pressures on consumer disposable income may impact lease-to-own and BNPL demand
- Integration risk for Purchasing Power
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001808834-26-000065 |
| Exhibit: ex-992q12026earningssupp.htm | 0001808834-26-000065 |
| Document: prg-20260429.htm | 0001808834-26-000065 |
| Document: 0001808834-26-000065-index-headers.html | 0001808834-26-000065 |
| Document: 0001808834-26-000065-index.html | 0001808834-26-000065 |
| Document: 0001808834-26-000065.txt | 0001808834-26-000065 |
| 8-K Data (Synthetic) | 0001808834-26-000065 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 11w ago | Insider Cluster | $42.71 | awaiting T+60 | — | $29.61 (−30.67%) |
Jul 29, 2026 12w ago | 8-K | $42.78 $31.83 | ▼ −25.60% | ▼ −30.33% | $29.61 (−30.79%) |
May 8, 2026 24w ago | 3 | $35.31 $45.85 | ▲ +29.85% | ▲ +25.46% | $29.61 (−16.14%) |
May 7, 2026 24w ago | 8-K | $35.71 $45.79 | ▲ +28.23% | ▲ +24.39% | $29.61 (−17.08%) |
Apr 29, 2026 25w ago | 8-K | $35.84 $43.71 | ▲ +21.96% | ▲ +17.85% | $29.61 (−17.38%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers