Prog Holdings narrows FY24 EPS view to $3.30-$3.40 from $3.25-$3.40

Consensus $3.38. Raises FY24 revenue view to $2.44B-$2.46B from $2.4B-$2.45B, consensus $2.44B. Narrows FY24 adjusted EBITDA view to $270M-$275M from $265M-$275M. The company said, “PROG Holdings (PRG) is updating its full year 2024 outlook for revenue and earnings as well as providing its outlook for revenues, net earnings, adjusted EBITDA, GAAP diluted EPS and non-GAAP diluted EPS for the fourth quarter of 2024. This outlook assumes a continuation of the benefits from tightened credit above us, a difficult operating environment with soft demand for leasable consumer goods, no material changes in the Company’s decisioning posture, no material increase in the unemployment rate for our consumer base, an effective tax rate for non-GAAP EPS of approximately 28%, and no impact from additional share repurchases.”