PROG Cuts FY26 Guidance, Adds $237.3M to Buyback and Plans $100M ASR
PRG sits 23% above its 52-week low of $25.18.
Summary
PROG Holdings trimmed its 2026 revenue and earnings outlook on consumer pressure while expanding its buyback authorization to $500 million and announcing a planned $100 million accelerated share repurchase.
Key Events · Earnings and Guidance · PRG
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Q3 Revenue Up 25.6% to $725.8M
Consolidated revenue from continuing operations was $725.8 million versus $577.7 million a year ago, driven by the Purchasing Power acquisition and Four's growth. Non-GAAP diluted EPS was $1.06, up 21.8%.
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Full-Year Guidance Cut
Citing a more pressured consumer, the company lowered its FY2026 revenue outlook to $3,015M-$3,050M from $3,025M-$3,100M, non-GAAP diluted EPS to $4.70-$4.85 from $4.75-$5.00, and Adjusted EBITDA to $345M-$355M from $355M-$375M.
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Q4 Outlook Introduced
Fourth-quarter 2026 guidance set at revenue of $827M-$862M, Adjusted EBITDA of $86M-$96M and non-GAAP diluted EPS of $1.20-$1.32.
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Buyback Raised to $500M
The board added $237.3 million to the existing repurchase program, bringing total available to $500 million, and extended the term through October 26, 2029.
Analysis · PRG · Trade & Services
The guidance cut is the number that moves the stock. Q3 revenue rose 25.6% to $725.8 million on the Purchasing Power acquisition, but management trimmed the full-year outlook, citing a more pressured consumer. Non-GAAP diluted EPS guidance drops to $4.70-$4.85 from $4.75-$5.00, and Adjusted EBITDA to $345-$355 million from $355-$375 million. Against that, the board added $237.3 million to the buyback, taking available capacity to $500 million, and the company intends a $100 million accelerated share repurchase in Q4. The buyback is a partial offset, not a fix for weaker earnings.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.7% of the 1698 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, PRG was trading at $30.93 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $25.18 to $47.73. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.