Welcome to our dedicated page for Pra Group news (Ticker: PRAA), a resource for investors and traders seeking the latest updates and insights on Pra Group stock.
PRA Group, Inc. (NASDAQ: PRAA) is a collection agency company that focuses on acquiring and collecting nonperforming loans. The company describes itself as a global leader in this area, returning capital to banks and other creditors and helping expand financial services for consumers in the Americas, Europe and Australia. This news page aggregates company announcements, earnings updates and other disclosures that PRA Group releases to the market.
Investors following PRAA news will see regular quarterly results updates, where the company reports portfolio income, total portfolio revenue, cash collections by region and segment, and metrics such as estimated remaining collections (ERC), cash efficiency ratio and adjusted EBITDA. These earnings releases also discuss portfolio purchases in the Americas, Europe and Australia and provide context on how recent investments in nonperforming loan portfolios are performing.
News for PRA Group also includes capital markets activities, such as the 2025 announcements and related SEC filings about the proposed, priced and completed offering of €300 million of 6.250% senior notes due 2032 by its European subsidiary. These items describe the structure of the notes, related guarantees and the intended use of proceeds to repay borrowings under the company’s revolving credit facilities.
In addition, PRA Group issues news about corporate governance and leadership, including the appointment of a new president and chief executive officer, promotions within its European business and participation in investor conferences and webinars. Together, these updates help investors and analysts track PRA Group’s operational performance, financing decisions and leadership developments over time.
Bookmark this page to access a consolidated view of PRAA press releases and related updates as they are issued and referenced in the company’s SEC filings.
PRA Group, Inc. (Nasdaq: PRAA) reported a strong financial performance for Q4 and full year 2021. Net income rose 15% to $34.3 million in Q4, with diluted EPS at $0.79, a 22% increase. Annual net income reached $183.2 million, reflecting a 23% growth. Total cash collections hit a record of $2.1 billion, bolstered by strategic portfolio purchases totaling $972.3 million. The company maintained a healthy cash efficiency ratio of 65.3%. A new $150 million share repurchase program has been authorized, indicating confidence in future growth opportunities.
PRA Group, Inc. (Nasdaq: PRAA) will release its fourth quarter and full year 2021 financial results on February 28, 2022, after market close. A conference call and webcast will follow at 5 p.m. E.T. Investors can access the webcast and slides at the company's investor relations website. Additionally, PRA Group plans to report its first quarter 2022 results after market close on May 9, 2022. As a leader in acquiring and collecting nonperforming loans, PRA Group serves clients in the Americas, Europe, and Australia.
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PRA Group, a leader in acquiring nonperforming loans, has announced a $250,000 increase in its annual charitable giving, celebrating its 25th anniversary. This initiative enables employees to nominate organizations worldwide, resulting in over 200 nominations. Notable beneficiaries include The Terry Fox Foundation and St. Jude Children's Research Hospital. Since 2009, PRA Group has contributed over $7.8 million to various charitable causes. The company emphasizes community engagement, enhanced by virtual events due to COVID-19 restrictions, and maintains a robust employee matching program.
PRA Group (Nasdaq: PRAA) has been announced as the anchor tenant for the HALO Enterprise and Innovation Centre in Kilmarnock, U.K., committing to a 15-year lease. This move will create additional job opportunities for its 300 employees and strengthen local partnerships. The facility emphasizes sustainability, aligning with PRA Group's mission for environmental responsibility. Supported by a £3.5 million investment from the UK Government as part of the Ayrshire Growth Deal, the HALO aims to be a leader in digital and cyber training, fostering local economic growth.
PRA Group, Inc. (PRAA) reported its Q3 2021 financial results, with net income of $34.5 million, down from $42.5 million in Q3 2020. Diluted earnings per share fell to $0.76 from $0.92. Total portfolio purchases surged to $391.9 million, marking a 78% increase from Q2 2021. Europe accounted for $219.6 million of purchases, reflecting strong demand. Estimated remaining collections rose to $6.1 billion. Operating expenses increased by $6.9 million, impacting profitability. The company repurchased $74 million in stock and expanded its buyback program to $230 million.
PRA Group, Inc. (Nasdaq: PRAA) has announced an $80 million increase to its existing share repurchase authorization, reflecting its strong capital position and commitment to enhancing shareholder value. This expansion aligns with recent credit facility amendments and will be managed while balancing the company's investment pipeline and growth targets. The program has no expiration date and is subject to market conditions and regulatory requirements, with purchases made at the discretion of the Board of Directors.
PRA Group, Inc. (Nasdaq: PRAA) is set to report its third quarter 2021 results on November 8, 2021, following a conference call at 5 p.m. E.T.. Investors can access the results via webcast or phone. The company also plans to announce its fourth quarter results after market close on February 24, 2022. As a leading firm in acquiring and collecting nonperforming loans, PRAA aims to support financial services for consumers across the Americas, Europe, and Australia.
PRA Group, Inc. (Nasdaq: PRAA) has priced its upsized offering of $350 million 5.00% Senior Notes due 2029, increased from $300 million. The offering is to close around September 22, 2021, pending customary conditions. The notes will be guaranteed by PRA Group's domestic subsidiaries. Net proceeds will be used to repay approximately $345.5 million of revolving borrowings under its Credit Agreement, maintaining borrowing capacity. This private offering is exempt from registration under the Securities Act.
PRA Group, Inc. (Nasdaq: PRAA) announced a proposed offering of $300 million in senior notes due 2029, subject to market conditions. The notes will be guaranteed by existing and future domestic subsidiaries. The company plans to use proceeds to repay approximately $296 million of revolving credit under its North American Credit Agreement, without affecting the overall borrowing capacity. This offering is aimed at qualified institutional buyers and will not be registered under the Securities Act.