PROG Holdings, Inc. (NYSE:PRG) Q2 2024 Earnings Conference Call July 24, 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
Brad Thomas - KeyBanc Capital Markets
Hoang Nguyen - TD Cowen
Bobby Griffin - Raymond James
Anthony Chukumba - Loop Capital Markets
Vincent Caintic - BTIG
Operator
Good day and thank you for standing by. Welcome to PROG Holding's Second Quarter Earnings Conference Call. At this time, all participants are on listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please note that today's conference is being recorded.
I will now hand the conference over to your speaker host, John Baugh, VP of Invest Relations. Please go ahead.
John Baugh
Thank you, and good morning, everyone. Welcome to the PROG Holding's second quarter 2024 earnings call. Joining me this morning are Steve Michaels, PROG Holding's 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 revised 2024 full-year outlook and our outlook for the third quarter of 2024, the health of our portfolio, and our expectations for write-offs for our progressive leasing segment for the remainder of 2024, our expectations regarding GMV for the third quarter and full-year 2024, and our capital allocation priorities, including our ability to continue returning capital to shareholders.
Listeners are cautioned not to place undue emphasis on forward-looking statements we make today, all of which are subject to risks and uncertainties, which could cause actual results to differ materially from those contained in the forward-looking statements. 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.