PROG Holdings raises FY23 EPS $3.10- $3.25 from $2.50 -$2.77, consensus $2.67

The Company is revising upwards its full year earnings and revenue outlook and providing a Q3 2023 outlook for revenues, net earnings, adjusted EBITDA, GAAP diluted EPS, and non-GAAP diluted EPS. The primary factors driving the increase in PROG Holdings’ annual earnings outlook are the strength of the Company’s earnings in the first half of 2023 and the expectation that improved gross margins from strong portfolio management will continue. This outlook assumes a difficult operating environment with continued soft demand for consumer durable goods, no material changes in the Company’s decisioning posture or portfolio performance, and no impact from additional share purchases