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Prog Holdings (PRG) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Prog Holdings (PRG) Q3 2026 earnings results →
Q3 2026 Revenue up 26% year over year to $726M · 5¢ of every $1 of revenue kept as net profit · operating margin 9.1%
Prog Holdings made $726M in Q3 2026 (+26% Y/Y): Lease revenues and fees $552M, Product and service revenues $129M, Other revenue $44.6M. Operating margin 9.1%, net earnings $37.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
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What changed this quarter
Revenue was $725.8M in Q3 2026, up 26% year over year and up 1% from the previous quarter. Lease revenues and fees was the largest line at 76% of revenue. Other revenue added $23.4M year over year (up 111%), 16% of the total change. Lease revenues and fees declined 1%.
Operating profit was $66.0M, a 9.1% margin (unchanged year over year). Of the extra revenue versus Q3 2025, 9% reached operating profit, below the 9% margin then. Total costs grew 26% against revenue growth of 26%. The fastest-growing cost line was SG&A (+40%). Net earnings were $37.2M, up 12% year over year. The effective tax rate was 28.5%.
Operating cash flow was $108.2M (down 2% year over year), 291% of net earnings. Non-cash charges added back $10.3M of depreciation and amortization and $8.1M of share-based compensation. Working capital and other items added $52.5M. Capital expenditures of $4.8M left free cash flow of $103.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $726M | +26% | 9.1% | $37.2M | $108M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $720M | +22% | 9.1% | $37.0M | $106M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $743M | +11% | 8.8% | $36.1M | $172M |
| Q4 2025 | 10-K | Feb 18, 2026 | $575M | +3% | 6.7% | $40.5M | −$54.9M |
| Q3 2025 | 10-Q | Oct 22, 2025 | $578M | -5% | 9.1% | $33.1M | $110M |
| Q2 2025 | 10-Q | Jul 23, 2025 | $589M | -0.6% | 10.1% | $38.5M | $69.9M |
| Q1 2025 | 10-Q | Apr 23, 2025 | $668M | +4% | 8.4% | $34.7M | $210M |
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About Prog Holdings
Unless otherwise indicated or unless the context otherwise requires, all references in this Annual Report on Form 10-K to the "Company," "we," "us," "our" and similar expressions are references to PROG Holdings, Inc. ("PROG Holdings") and its consolidated subsidiaries. PROG Holdings is a financial technology holding company that provides transparent and competitive payment options to consumers. PROG Holdings' operating segments include Progressive Leasing, an in-store, app-based, and e-commerce point-of-sale lease-to-own solutions provider, and Four Technologies, Inc. ("Four"), a modern, cloud-native mobile app which offers Buy Now, Pay Later ("BNPL") payment options to consumers through the Four platform. PROG Holdings also owns MoneyApp, a mobile application that offers customers interest-free cash advances.
In its own words, from its 10-K, filed Feb 18, 2026.
Prog Holdings against its Services-Equipment Rental & Leasing, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +12%. Operating margin: 9.1% against the peers' median 21.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PRG Prog Holdings | Q3 2026 | $726M | +26% | 9.1% |
| URI United Rentals | Q3 2026 | $4.9B | +16% | 28.8% |
| United Rentals North America | Q2 2026 | $4.4B | +12% | 25.8% |
| SUNB Sunbelt Rentals Holdings | Q1 FY27 | $3.1B | +11% | 22.2% |
| EQPT EquipmentShare.com | Q2 2026 | $1.4B | +26% | 6.4% |
| UPBD Upbound Group | Q3 2026 | $1.1B | -2% | 6.2% |
| Sumisho Air Lease | Q3 2026 | $593M | -18% | 21.4% |
| CTOS Custom Truck One Source | Q3 2026 | $495M | +3% | 7.7% |
| Aircastle | Q2 FY27 | $283M | +24% | 28.4% |
Source: Prog Holdings 10-Q on SEC EDGAR · CIK 1808834 · Services-Equipment Rental & Leasing, NEC
13F: who owns PRG and who is buying
More on PRG
- How Prog Holdings makes money: revenue by segment
- Prog Holdings next earnings date and what analysts expect
- Prog Holdings stock forecast, price target and fair value
- Who owns Prog Holdings stock: holders, funds and Congress trades
- Prog Holdings guidance and outlook
- Is Prog Holdings a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Prog Holdings guidance history: guided vs reported
- Prog Holdings operating margin by quarter
- Prog Holdings net income by quarter
- Prog Holdings free cash flow by quarter
- Prog Holdings capital expenditures by quarter
- Prog Holdings Lease revenues and fees revenue by quarter
- Prog Holdings Product and service revenues revenue by quarter
- Prog Holdings Other revenue revenue by quarter