PROG Holdings, Inc. (NYSE: PRG) shares experienced a sharp decline of 14.61% in pre-market trading on Wednesday, February 19, 2025. The plunge was triggered by the company's disappointing first-quarter earnings guidance, which fell significantly short of analysts' expectations.
In its fourth-quarter 2024 earnings release, PROG Holdings provided guidance for the first quarter of 2025, projecting adjusted earnings per share (EPS) in the range of $0.80 to $0.85. This outlook missed the FactSet consensus estimate of $0.99, indicating that the company's Q1 earnings are likely to fall short of market expectations.
The underwhelming earnings guidance from PROG Holdings sent shockwaves through the market, leading investors to sell off the stock aggressively. The company's shares plummeted in pre-market trading, reflecting the market's disappointment with the company's near-term earnings outlook.
Investors will be closely monitoring PROG Holdings' actual first-quarter results and any potential revisions to its full-year guidance when they are released. The company's ability to regain investor confidence will likely depend on its ability to deliver better-than-expected financial performance in the coming quarters.
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