PROG Holdings releases transcript of Q1 2026 earnings call
PRG•Quarter highlights
- Q1 continuing-operations revenue: $742.7 million
- Adjusted EBITDA: $90.3 million
- Non-GAAP EPS: $1.24
- Consolidated GMV: up 54% to $806 million
Progressive Leasing GMV fell 2.2% to $393 million; March returned to low-single-digit growth. Gross margin rose 210 bps to 31.5% on lower 90-day purchase-option usage.
Four GMV rose 134% to $280 million; revenue was $35 million and adjusted EBITDA was $12.9 million. Recourse debt was paid down by $210 million, with net leverage at 2x.
Q1 results and outlook
PROG Holdings discussed Q1 2026 results on April 29 with the CEO, CFO and head of investor relations; analysts from Stephens, Raymond James, TD Cowen, Loop Capital, B. Riley and KeyBanc attended.
