By Kelly Cloonan

Shares of Prog Holdings gained after the company raised its full-year guidance after reporting better-than-expected results in its latest quarter.

The stock climbed 23% earlier in the session, to $35.47, on track for its largest percent increase since 2020. Shares were recently up about 21%, and have risen 18% year to date.

The financial technology holding company now forecasts revenue of $3 billion to $3.1 billion for the year, up from its prior projection of $2.95 billion to $3.07 billion.

The company now expects adjusted earnings per share of $4.40 to $4.80, up from a range of $4 to $4.45 previously.

The updated guidance comes after the company posted higher adjusted earnings per share and revenue in its latest quarter, with both metrics beating analysts' expectations, according to FactSet.

Chief Executive Steve Michaels said the quarterly results were helped by improving trends at its Progressive Leasing brand and growth at its Four and Purchasing Power businesses.

"We saw continued momentum in our ecosystem with increasing engagement across products, which is driving higher customer lifetime value and improving acquisition efficiency," Michaels said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

April 29, 2026 15:04 ET (19:04 GMT)

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