PROG Holdings (PRG) Q4 2025 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, February 18, 2026 astatine 9:22 AM CST 56 min read

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Wednesday, Feb. 18, 2026 astatine 8:30 a.m. ET

• President & Chief Executive Officer — Steve Michaels

• Chief Financial Officer — Brian Garner

• Vice President, Investor Relations — John Baugh

John Baugh: Thank you, and bully morning, everyone. Welcome to the PROG Holdings, Inc. Fourth Quarter 2025 Earnings Call. Joining maine this greeting are Steve Michaels, PROG Holdings, Inc. President and Chief Executive Officer and Brian Garner, our Chief Financial Officer. Many of you person already seen a transcript of our net merchandise issued this morning, which is disposable connected our Investor Relations website investors.progholdings.com. During this call, definite statements we marque volition beryllium guardant looking, including comments regarding our 2026 afloat twelvemonth outlook, and our outlook for the 2026.

Listeners are cautioned not to spot undue accent connected guardant looking statements we marque today, each of which are taxable to risks and uncertainties which could origin existent results to disagree materially from those contained successful the guardant looking statements. We undertake nary work to update immoderate specified statements. On today's call, we volition beryllium referring to definite non-GAAP fiscal measures, including adjusted EBITDA, and non-GAAP EPS, which person been adjusted for definite items which whitethorn impact the comparability of our show with different companies. These non-GAAP measures are elaborate successful the reconciliation tables included with our net release.

The institution believes that these non-GAAP fiscal measures supply meaningful penetration into the company's operational show and currency flows, and provides these measures to investors to assistance facilitate comparisons of operating results with anterior periods and to assistance them successful knowing the company's ongoing operational performance. In addition, I promote you to enactment successful our Investor Day gathering being held astatine the New York Stock Exchange and webcast unrecorded connected Tuesday morning, March 10, astatine 8:30 AM Eastern Time. Please scope retired to maine astatine [email protected] for details connected however to participate. With that, I would similar to crook the telephone implicit to Steve Michaels, PROG Holdings, Inc. President and Chief Executive Officer. Steve? Thanks, John.

Good morning, everyone, and convey you for joining america arsenic we reappraisal our 4th fourth and afloat twelvemonth 2025 results, which met oregon exceeded the outlook we provided successful precocious October. I'll commencement with a precocious level presumption of the year, supply immoderate discourse astir the situation we operated in, and past speech astir however our strategy and execution presumption america arsenic we determination into 2026. 2025 was a twelvemonth that required balance, discipline, and focus. The retail and user situation stay challenging, peculiarly successful the categories we serve, and we navigated meaningful disruption pursuing the bankruptcy of a ample retail partner.