PROG Holdings Q2 revenue slightly beats estimates 

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

*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

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(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.)