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2025 Outlook
In light of the deterioration in the macroeconomic environment since the Company issued its full-year outlook on February 19, 2025, the Company is updating its full year 2025 outlook for revenue and earnings as well as providing guidance for the second quarter of 2025. The updated outlook below assumes a difficult operating environment with soft demand for consumer durable goods, no material changes in the Company's current decisioning posture, an effective tax rate for Non-GAAP EPS of approximately 28%, and no impact from additional share repurchases. Additionally, the company has not assumed a recession which, among other factors, would likely be accompanied by a rise in the unemployment rate.
| Revised 2025 Outlook | Previous 2025 Outlook | ||||||||||||
| (In thousands, except per share amounts) | Low | High | Low | High | |||||||||
| PROG Holdings - Total Revenues | $ | 2,425,000 | $ | 2,500,000 | $ | 2,515,000 | $ | 2,590,000 | |||||
| PROG Holdings - Net Earnings | 109,000 | 125,000 | 115,500 | 133,500 | |||||||||
| PROG Holdings - Adjusted EBITDA | 245,000 | 265,000 | 260,000 | 280,000 | |||||||||
| PROG Holdings - Diluted EPS | 2.62 | 3.01 | 2.82 | 3.22 | |||||||||
| PROG Holdings - Diluted Non-GAAP EPS | 2.90 | 3.30 | 3.10 | 3.50 | |||||||||
| Progressive Leasing - Total Revenues | 2,300,000 | 2,360,000 | 2,385,000 | 2,445,000 | |||||||||
| Progressive Leasing - Earnings Before Taxes | 168,000 | 185,000 | 181,000 | 195,000 | |||||||||
| Progressive Leasing - Adjusted EBITDA | 245,000 | 261,000 | 260,000 | 275,000 | |||||||||
| Vive - Total Revenues | 60,000 | 65,000 | 65,000 | 70,000 | |||||||||
| Vive - Loss Before Taxes | (5,000 | ) | (3,500 | ) | (5,500 | ) | (2,500 | ) | |||||
| Vive - Adjusted EBITDA | (2,500 | ) | (1,000 | ) | (2,500 | ) | — | ||||||
| Other - Total Revenues | 65,000 | 75,000 | 65,000 | 75,000 | |||||||||
| Other - Loss Before Taxes | (9,000 | ) | (7,500 | ) | (9,000 | ) | (6,000 | ) | |||||
| Other - Adjusted EBITDA | 2,500 | 5,000 | 2,500 | 5,000 | |||||||||
Three Months Ended June 30, 2025 Outlook | ||||
| (In thousands, except per share amounts) | Low | High | ||
| PROG Holdings - Total Revenues | $ | 575,000 | $ | 595,000 |
| PROG Holdings - Net Earnings | 28,000 | 32,000 | ||
| PROG Holdings - Adjusted EBITDA | 61,000 | 66,000 | ||
| PROG Holdings - Diluted EPS | 0.68 | 0.77 | ||
| PROG Holdings - Diluted Non-GAAP EPS | 0.75 | 0.85 | ||
Posted In: PRG
