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Mar 31, 2023
Pra Group Q1 2023 Earnings Report
Reported challenges including a softer-than-expected U.S. tax season, while total cash collections were delivered globally and portfolio purchases increased.
Key Takeaways
PRA Group's Q1 2023 results showed challenges with a softer-than-expected U.S. tax season, but the company met collections expectations on a consolidated basis with $411.3 million in total cash collections globally. They also had a strong purchasing quarter, investing $230.2 million in portfolios, up 56% year-over-year.
Total portfolio purchases were $230.2 million.
Total cash collections reached $411.3 million.
Diluted earnings per share were $(1.50).
Available capacity under the Company's credit facilities was $1.6 billion, or $436.8 million after considering borrowing base restrictions.
Forward Guidance
PRA Group's strategy remains intact, with a commitment to accelerating efforts to deliver sustained performance and create value for shareholders.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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