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Mar 31, 2024
Pra Group Q1 2024 Earnings Report
Turnaround of U.S. business accelerated and continued to gain momentum.
Key Takeaways
PRA Group reported a positive start to 2024 with total cash collections up 9% year-over-year and portfolio revenue increasing significantly, driven by higher portfolio purchases and operational initiatives. The company reiterated its full-year financial and operational targets.
Total portfolio purchases were $245.8 million.
Total cash collections reached $449.5 million, a 9% increase year-over-year.
Estimated remaining collections (ERC) stood at $6.5 billion.
Diluted earnings per share were $0.09.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company reiterates its expectation to achieve the following financial and operational targets for full year 2024:
Positive Outlook
- Strong portfolio investment levels
- Double-digit cash collections growth
- Modest expense growth
- 60%+ cash efficiency ratio
- 6% - 8% return on average tangible equity
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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