PROG Holdings, Inc. (NYSE:PRG) Q4 2022 Earnings Conference Call February 22, 2023 8:30 AM ET

Company Participants

John Baugh - Vice President, Investor Relations

Steve Michaels - President and Chief Executive Officer

Brian Garner - Chief Financial Officer

Conference Call Participants

Brad Thomas - KeyBanc

Anthony Chukumba - Loop Capital

Jason Haas - Bank of America

Alessandra Jimenez - Raymond James

Hal Goestch - Loop Capital

Vincent Caintic - Stephens

Operator

Good day, and thank you for standing by. Welcome to the PROG Holdings Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to your speaker today, John Baugh, Vice President, Investor Relations. Please go ahead.

John Baugh

Thank you, and good morning everyone. Welcome to the PROG Holdings fourth quarter 2022 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 expectations related to the benefits we expect from the three pillars of our strategy, our lease portfolio performance in 2023, including with respect to delinquencies and write-offs, our GMV for 2023, and our outlook for the 2023 full-year and first quarter.

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 expect to file later today. 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.