Prog Holdings, Inc. · NYSE:PRG
Prog — Q3 2026 Earnings Presentation
26 slides from Prog's earnings presentation, Oct 28, 2026
Slide 1: Q3 2026 Earnings Supplement
PROG Internal PROG Holdings, Inc. Q3 2026 Earnings Supplement October 28, 2026 Exhibit 99.3
Slide 2: Forward-looking statements
2 Statements, estimates and projections in this earnings supplement regarding our business that are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements.
Slide 3: PROG Holdings Q3 2026 Headlines
PROG Internal 3 PROG Holdings Q3 2026 Headlines • Consolidated revenues from continuing operations of $725.8 million, up 25.6%; Net earnings from continuing operations of $37.5 million • Adjusted EBITDA from continuing operations of $80.0 million, up 21.8% • Diluted EPS from continuing operations of
Slide 4: CEO commentary on third-quarter results
PROG Internal 4 “Our third-quarter results reflect the strength and resilience of our diversified platform and the discipline with which we run it, with consolidated GMV growth of 59% and continued profitability even against a more pressured consumer backdrop,” said Steve Michaels, PROG Holdings’ Ch
Slide 5: PROG Holdings Q3 Consolidated Results
PROG Internal Adjusted EBITDA in millions 5 $577.7 $574.6 $742.7 $719.7 $725.8 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Non-GAAP EPSRevenue in millions 11.4% 10.7% 12.2% 12.3% 11.0% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Adjusted EBITDA as a % of PROG Holdings consolidated revenues PROG Holdings Q3
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Slide 7: PROG Holdings Consolidated Q3 Results (from continuing operations)
PROG Internal 7 2026 2025 Consolidated GMV $912.0 $574.0 58.9% Revenue $725.8 $577.7 25.6% GAAP Net Earnings $37.5 $32.3 16.1% Adjusted Net Earnings $43.0 $35.3 22.2% Adjusted EBITDA $ $80.0 $65.7 21.8% Adjusted EBITDA % 11.0% 11.4% -40 bps GAAP Diluted Earnings Per Share $0.92 $0.80 15.0% Non-GAAP
Slide 8: PROG Holdings Consolidated Results: cash, debt, leverage
PROG Internal 8 PROG Holdings Consolidated Results Cash and Cash Equivalents As of 9/30/2026 $108.9M Gross Recourse Debt1 As of 9/30/2026 $600M Net Leverage Ratio2 As of 9/30/2026 1.5x Operating Cash Flow From Continuing Operations Nine Months Ended 9/30/2026 $392.7M 1) Recourse debt does not includ
Slide 9: PROG Holdings Revised Full-Year 2026 Outlook
PROG Internal 9 PROG Holdings Revised Full-Year 2026 Outlook Given ongoing macroeconomic pressures and the challenged consumer, the Company is reducing its revenues and earnings outlook ranges for the fiscal year ending December 31, 2026. The outlook assumes an operating environment for the remainde
Slide 10: PROG Holdings Q4 2026 Outlook
PROG Internal 10 PROG Holdings Q4 2026 Outlook The Company is providing selective fourth quarter 2026 outlook metrics. The outlook assumes an operating environment for the remainder of the year that is consistent with current conditions, including the current financial pressures and uncertainties fo
Slide 11: Appendix
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Slide 12: Non-GAAP financial measures definitions
PROG Internal Non-GAAP net earnings from continuing operations, non-GAAP diluted earnings from continuing operations per share, and adjusted EBITDA are supplemental measures of our performance that are not calculated in accordance with generally accepted accounting principles in the United States ("
Slide 13: Reconciliation of Net Earnings and Diluted EPS to Non-GAAP
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Reconciliation of Net Earnings and Diluted Earnings Per Share to Non- GAAP Net Earnings and Diluted Earnings Per Share (In thousands, except per share amounts)
Slide 14: Reconciliation of Net Earnings and Diluted EPS to Non-GAAP
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Reconciliation of Net Earnings and Diluted Earnings Per Share to Non- GAAP Net Earnings and Diluted Earnings Per Share (In thousands, except per share amounts)
Slide 15: Quarterly Segment EBITDA
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Quarterly Segment EBITDA (In thousands)
Slide 16: Quarterly Segment EBITDA
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Quarterly Segment EBITDA (In thousands)
Slide 17: Quarterly Segment EBITDA
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Quarterly Segment EBITDA (In thousands)
Slide 18: Quarterly Segment EBITDA
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Quarterly Segment EBITDA (In thousands)
Slide 19: Consolidated & Progressive Leasing Adjusted EBITDA %
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Consolidated & Progressive Leasing Adjusted EBITDA %
Slide 20: Reconciliation of Revised Full Year 2026 Outlook for Adjusted EBITDA
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of Revised Full Year 2026 Outlook for Adjusted EBITDA (In thousands)
Slide 21: Reconciliation of Previous Full Year 2026 Outlook for Adjusted EBITDA
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of Previous Full Year 2026 Outlook for Adjusted EBITDA (In thousands)
Slide 22: Reconciliation of Q4 2026 Outlook for Adjusted EBITDA
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of the Three Months Ended December 31, 2026 Outlook for Adjusted EBITDA (In thousands)
Slide 23: Reconciliation of Revised Full Year 2026 Outlook for Diluted EPS
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of Revised Full Year 2026 Outlook for Diluted Earnings Per Share to Non-GAAP Diluted Earnings Per Share
Slide 24: Reconciliation of Previous Full Year 2026 Outlook for Diluted EPS
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of Previous Full Year 2026 Outlook for Diluted Earnings Per Share to Non-GAAP Diluted Earnings Per Share
Slide 25: Reconciliation of Q4 2026 Outlook for Diluted EPS
PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of the Three Months Ended December 31, 2026 Outlook for Diluted Earnings Per Share to Non- GAAP Diluted Earnings Per Share
Slide 26: PROG Internal
PROG Internal