PROG Holdings, Inc. (NYSE: PRG) saw its stock price soar 5.04% in pre-market trading on Wednesday following the release of its third-quarter 2025 financial results, which exceeded analyst expectations. The lease-to-own retailer reported strong earnings and provided an updated outlook for the full year, while also announcing a strategic sale of its Vive credit card portfolio.

The company reported third-quarter adjusted earnings per share of $0.90, significantly surpassing the consensus estimate of $0.74. Revenue for the quarter came in at $595.1 million, also beating analyst projections of $586.1 million. PROG Holdings' net earnings for the quarter stood at $33.1 million, or $0.82 per diluted share.

In a notable strategic move, PROG Holdings announced the sale of its Vive credit card receivables portfolio to Atlanticus. This decision is expected to improve the company's capital efficiency and financial flexibility, supporting future growth initiatives. Additionally, the company's Four Technologies segment, which offers Buy Now, Pay Later solutions, demonstrated impressive growth with a 162.8% increase in Gross Merchandise Value (GMV) and achieved its third consecutive quarter of positive adjusted EBITDA.

PROG Holdings also revised its full-year 2025 outlook, now expecting total revenues between $2.41 billion and $2.435 billion, and non-GAAP earnings per share from continuing operations of $3.35 to $3.45. The updated guidance reflects the company's strong performance and its strategic focus on core operations following the Vive portfolio sale.

Steve Michaels, President and CEO of PROG Holdings, commented on the results, stating, "Our third quarter results once again highlight the strength and consistency of our execution, even as consumers face ongoing economic pressures. With a strong product portfolio, solid financial foundation, and continued investment in customer experience, we are well positioned to deliver sustainable growth in 2026 and beyond."