Outerwall Inc. lowered its 2015 guidance after a disappointing performance by Redbox, its DVD kiosk business, and said Redbox’s president, Mark Horak, would leave the company.

In after-hours trading, Outerwall shares fell 23% to $44.55.

Outerwall, also home to to the Coinstar and ecoATM brands, said Redbox was hurt by poor third-quarter box...