PROG Holdings, Inc. (NYSE:PRG) Q4 2023 Earnings Conference Call February 21, 2024 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
Kyle Joseph - Jefferies
Jason Haas - Bank of America
Bradley Thomas - KeyBanc Capital Markets
Anthony Chukumba - Loop Capital Markets
Alessandra Jimenez - Raymond James
Operator
Good day, and welcome to the PROG Holdings Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [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 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 2024 full year outlook and our outlook for the first quarter of 2024; the health of our portfolio; our capital allocation priorities, including our ability to continue paying a quarterly cash dividend and repurchase shares in future periods; our expectations regarding GMV and the levels of charge-offs and 90-day purchase options in 2024; our expectations regarding the future performance of our other operations; and our expectations regarding consumer demand for leasable items in 2024. 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.