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Jun 30, 2024
Pra Group Q2 2024 Earnings Report
Successfully turned around the U.S. business and delivered against financial and operational targets for 2024.
Key Takeaways
PRA Group reported a strong second quarter with net income of $21.5 million, driven by increased cash collections and portfolio revenue. The company invested $379 million in portfolio purchases and experienced growth in both U.S. and European cash collections.
Net income attributable to PRA Group, Inc. was $21.5 million, resulting in diluted earnings per share of $0.54.
Total portfolio purchases amounted to $379.4 million.
Total cash collections reached $473.9 million.
Estimated remaining collections (ERC) totaled $6.8 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company expects to achieve the following financial and operational targets for full year 2024.
Positive Outlook
- Strong portfolio investment levels
- Double-digit cash collections 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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