Quarterly ResultApr 29, 2026, 09:32 AM
PROG Q1 Revenue +11.1% to $742.7M; EPS $0.89; Purchasing Power Acquired
AI Summary
PROG Holdings, Inc. reported a significant increase in Q1 2026 total revenue, up 11.1% to $742.7 million, with diluted EPS rising 7.2% to $0.89. These results reflect the strategic acquisition of Purchasing Power on January 2, 2026, which contributed $106.4 million in new product and service revenues. While lease revenues declined, operating profit grew by 15.9% to $65.3 million. The company also increased its common stock dividend to $0.14 per share.
Key Highlights
- Acquired Purchasing Power on January 2, 2026, for approximately $424.2 million in cash.
- Total revenue increased 11.1% to $742.7 million for Q1 2026.
- Diluted earnings per share rose 7.2% to $0.89 for Q1 2026.
- Product and service revenues, primarily from Purchasing Power, totaled $106.4 million.
- Lease revenues and fees decreased 8.4% to $596.9 million.
- Operating profit grew 15.9% to $65.3 million for Q1 2026.
- Declared a common stock dividend of $0.14 per share, up from $0.13.
- Cash used in investing activities was $(385.9) million, largely due to the acquisition.
Price Impact
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