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Jun 30, 2023
Pra Group Q2 2023 Earnings Report
PRA Group's performance was driven by strong European operations and increased portfolio purchases.
Key Takeaways
PRA Group reported mixed results for Q2 2023. While portfolio purchases increased significantly and cash collections exceeded internal expectations, the company experienced a net loss. The company remains focused on organic growth and optimizing business processes.
Total portfolio purchases increased 41.7% year-over-year to $327.8 million.
Total cash collections were $419.3 million.
Cash efficiency ratio of 61.2%.
Diluted earnings per share were $(0.10).
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
PRA Group is laying the foundation for a stronger, profitable, and higher performing organization.
Positive Outlook
- Focus on driving organic growth.
- Optimizing business processes.
- Capitalizing on the increase in the supply of portfolios with improved pricing.
- Cash collections exceeded internal expectations, primarily driven by the strength of European operations.
- Balance sheet remains strong, and the company has the funding capacity to continue growing ERC.
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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