PROG Holdings cuts 2026 revenue outlook by $70 million

PROG Holdings Inc. (NYSE: PRG) revised its 2026 revenue outlook, reducing projections by approximately $70 million across both high and low ranges due to accounting standard changes.

The fintech holding company said it will apply revenue recognition standard ASC 606 following its January 2026 acquisition of Purchasing Power. This change will primarily affect Purchasing Power's Travel and Service product categories, where revenue will be reported net of certain direct costs.

The company's updated 2026 total revenue guidance ranges from $2.95 billion to $3.07 billion, down from the previous range of $3.02 billion to $3.14 billion provided on February 18, 2026. Purchasing Power's revenue outlook was reduced to $610 million to $660 million from $680 million to $730 million.

PROG Holdings stated the accounting adjustments are not expected to materially impact Purchasing Power's gross margin, earnings before taxes or adjusted EBITDA. The company continues to expect Purchasing Power's 2026 revenue to grow at a low double-digit rate.

The company maintained its other financial expectations for 2026, including assumptions about its current decisioning posture and operating environment expectations. PROG Holdings anticipates continued soft demand for consumer durable goods but does not assume a material economic slowdown from current Iran-related hostilities.

The announcement preceded the company's Investor Day scheduled for March 10, 2026, in New York City. PROG Holdings operates Progressive Leasing, Four Technologies, MoneyApp, and Purchasing Power as its primary business units.

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