Call Start: 08:30 January 1, 0000 9:15 AM ET
PROG Holdings, Inc. (NYSE:PRG)
Q2 2023 Earnings Conference Call
July 26, 2023 08:30 ET
Company Participants
John Baugh - VP, IR
Steve Michaels - President & CEO
Brian Garner - CFO
Conference Call Participants
Kyle Joseph - Jefferies
Jason Haas - Bank of America
Bradley Thomas - KeyBanc Capital Markets
Anthony Chukumba - Loop Capital
Bobby Griffin - Raymond James
Operator
Standing by, and welcome to the PROG Holdings Second Quarter 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] As a reminder, today's program is being recorded.
And now I'd like to introduce your host for today's program, Mr. John Baugh, Vice President, Investor Relations. Please go ahead, sir.
John Baugh
Thank you, and good morning, everyone. Welcome to the PROG Holdings second quarter 2023 earnings call. Joining me this morning are Steve Michaels, PROG Holdings' President and Chief Executive Officer; and Brian Garner, our Chief Financial Officer. Many of you have already seen a copy of our earnings release issued this morning, which is available on our Investor Relations website, investor.progholdings.com.
During this call, certain statements we make will be forward looking, including comments regarding our GMV performance and lease merchandise write-offs in future periods, shareholder return over time, our updated 2023 full year outlook and our outlook for the third quarter of 2023. I want to call your attention to our safe harbor provision for forward-looking statements that can be found at the end of the earnings press release that we issued earlier this morning. That safe harbor provision identifies risks that may cause actual results to differ materially from the expectations discussed in our forward-looking statements. There are additional risks that can be found in our annual report on Form 10-K for the year ended December 31, 2022, which we encourage you to read. Listeners are cautioned not to place undue emphasis on forward-looking statements we make today, and we undertake no obligation to update any such statements.
On today's call, we will be referring to certain non-GAAP financial measures, including adjusted EBITDA and non-GAAP EPS, which have been adjusted for certain items which may affect the comparability of our performance with other companies. These non-GAAP measures are detailed in the reconciliation tables included with our earnings release. The company believes that these non-GAAP financial measures provide meaningful insight into the company's operational performance and cash flows and provides these measures to investors to help facilitate comparisons of operating results with prior periods and to assist them in understanding the company's ongoing operational performance.