Financial technology company PROG Holdings (NYSE: PRG) met Wall Street’s revenue expectations in Q1 CY2026, with sales up 8.6% year on year to $742.7 million. The company’s full-year revenue guidance of $3.05 billion at the midpoint came in 1% above analysts’ estimates. Its non-GAAP profit of $0.85 per share was 8.4% above analysts’ consensus estimates.
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PROG (PRG) Q1 CY2026 Highlights:
- Revenue: $742.7 million vs analyst estimates of $741.2 million (8.6% year-on-year growth, in line)
- Pre-tax Profit: $47.56 million (6.4% margin)
- Adjusted EPS: $0.85 vs analyst estimates of $0.78 (8.4% beat)
- The company dropped its revenue guidance for the full year to $3.05 billion at the midpoint from $3.08 billion, a 1% decrease
- Management raised its full-year Adjusted EPS guidance to $4.60 at the midpoint, a 8.9% increase
- Market Capitalization: $1.16 billion
"We delivered a strong start to 2026, with first quarter results exceeding the high end of our outlook for earnings, and non-GAAP EPS," said PROG Holdings President and CEO Steve Michaels.
Company Overview
Evolving from its origins as Aaron's, Inc. before rebranding in 2020, PROG Holdings (NYSE: PRG) provides alternative payment solutions including lease-to-own options and second-look credit products for consumers who may not qualify for traditional financing.
Revenue Growth
A company’s long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Unfortunately, PROG struggled to consistently increase demand as its $2.52 billion of revenue for the trailing 12 months was close to its revenue five years ago. This was below our standards and is a sign of poor business quality.
We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. PROG’s annualized revenue growth of 2.5% over the last two years is above its five-year trend, which is encouraging. 
Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, PROG grew its revenue by 8.6% year on year, and its $742.7 million of revenue was in line with Wall Street’s estimates.
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Key Takeaways from PROG’s Q1 Results
We were impressed by PROG’s optimistic full-year EPS guidance, which blew past analysts’ expectations. We were also glad its EPS outperformed Wall Street’s estimates. Overall, we think this was a solid quarter with some key areas of upside. The stock traded up 5% to $30.32 immediately after reporting.
Sure, PROG had a solid quarter, but if we look at the bigger picture, is this stock a buy? When making that decision, it’s important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here (it’s free).
