PROG Holdings Q2 revenue slightly beats estimates

PROG Holdings

29/07/2026 12:40

Overview
US fintech holding company's Q2 revenue from continuing operations rose 22%, slightly beating analyst expectations
Adjusted EPS from continuing operations for Q2 increased 19%, beating analyst expectations
Company attributed growth to all product lines and reduced net leverage to 1.7x

Outlook
PROG Holdings raises 2026 revenue outlook to $3.03 bln-$3.10 bln from $3.00 bln-$3.10 bln
Company sees 2026 diluted non-GAAP EPS between $4.75 and $5.00
PROG Holdings expects Q3 2026 revenue of $715 mln-$750 mln

Result Drivers
ALL PRODUCT LINES - Co said every product in its ecosystem contributed to Q2 growth, with consolidated GMV up 60% year-over-year
FOUR TECHNOLOGIES GROWTH - Four segment posted 111% GMV growth and 118% revenue growth, driving overall results
PURCHASING POWER ACQUISITION - Addition of Purchasing Power contributed $130 mln in revenue and 15% standalone GMV growth

Company press release: ID:nBw8FZpLpa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Consolidated revenues from continuing operations 
Slight Beat*
$719.70 mln
$716.68 mln (8 Analysts)
Q2 Adjusted EPS from continuing operations 
Beat
$1.19
$0.95 (8 Analysts)
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the financial technology (fintech) peer group is "buy"
Wall Street's median 12-month price target for PROG Holdings Inc is $48.00, about 6.5% above its July 28 closing price of $45.08
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 6 three months ago

Reuters Recommended Reads
July 29 - PSQ Holdings Q2 revenue jumps on Fintech growth
July 29 - SoFi lifts 2026 revenue forecast as member growth, new loans hit records
July 28 - PayPal Q2 revenue beats on strong momentum in Venmo and Braintree

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)