Prog Holdings, Inc. has reported its financial results for the fourth quarter of 2025, and the figures show a mixed performance compared to the same period in 2024.
Consolidated revenues from continuing operations for the fourth quarter of 2025 amounted to $574.6 million, marking a decrease of 5.2% from the same period in 2024.
The company's consolidated net earnings from continuing operations for the quarter were $19.9 million, a significant drop from $58.3 million in the prior year period. However, adjusted EBITDA from continuing operations for the quarter was $61.5 million, slightly down from $64.1 million in 2024.
Diluted earnings per share (EPS) from continuing operations for the fourth quarter of 2025 were $0.49, a notable decrease from $1.36 in the year-ago period. On a non-GAAP basis, diluted EPS from continuing operations were down 5.1% at $0.74 in the fourth quarter of 2025, compared with $0.78 for the same period in 2024.
Progressive Leasing, a key segment of Prog Holdings, saw its fourth-quarter gross merchandise value (GMV) at $534.0 million, down 10.6% from the same period in 2024.
The company ended the fourth quarter of 2025 with cash of $308.8 million and gross debt of $600.0 million. Prog Holdings did not repurchase any shares during the fourth quarter and maintains $309.6 million of repurchase capacity under its $500 million share repurchase program. Additionally, the company paid a quarterly cash dividend of $0.13 per share.
Looking ahead, Prog Holdings has issued its full-year 2026 outlook for various financial metrics, which includes almost a full year of ownership of the recently acquired Purchasing Power business. The company also provided its outlook for the first quarter of 2026, anticipating difficult operating conditions with soft demand for consumer durable goods.
The market has reacted to these announcements by moving the company's shares 1.18% to a price of $32.49. Check out the company's full 8-K submission here.
