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 (Nasdaq: PRAA) will present at the Raymond James Virtual 42nd Annual Institutional Investors Conference on March 1, 2021, at 10:50am ET. The presentation will be available via webcast on PRA Group's Investor Relations website.
PRA Group specializes in acquiring and collecting nonperforming loans, aiding banks and creditors in expanding financial services across the Americas and Europe. For further details, visit www.pragroup.com.
PRA Group, Inc. (PRAA) reported robust financial results for Q4 and full-year 2020. Net income rose by 9% to $29.8 million, with diluted EPS increasing to $0.65. Full-year net income surged 73% to $149.3 million. Q4 cash collections grew by 6% to $481.9 million, while total revenues increased 2% to $273.9 million. The cash efficiency ratio improved to 61.9%. Annual highlights include record cash collections of $2 billion and revenues of $1.1 billion. The company has forward flow commitments of up to $501.9 million, indicating a strong outlook for 2021.
PRA Group, Inc. (Nasdaq: PRAA) announced the retirement of Penelope W. Kyle from its Board of Directors, effective upon the upcoming annual meeting. Ms. Kyle has been a board member since 2005 and held various leadership roles, including chair of the Nominating and Corporate Governance Committee. The company chairman, Steve Fredrickson, acknowledged her contributions to establishing PRA Group as a leader in the nonperforming loan industry. The organization focuses on assisting banks and creditors in managing nonperforming loans globally.
PRA Group, Inc. (Nasdaq: PRAA) will announce its fourth quarter and full year 2020 results on February 25, 2021, after market close. A webcast and conference call will follow at 5 p.m. E.T. Investors can access the call via phone or through the company's website. Additionally, PRA Group plans to report its first quarter 2021 results after market close on May 6, 2021. The company specializes in acquiring and collecting nonperforming loans, supporting financial services for consumers in the Americas and Europe.
PRA Group (Nasdaq: PRAA) will present at the Bank of America Securities 2020 Leveraged Finance Virtual Conference on Nov. 30, 2020, at 11:15am ET. The event will be accessible via a webcast on PRA Group's Investor Relations website, with a replay available until Mar. 2, 2021. PRA Group is a leader in acquiring and collecting nonperforming loans, aiding financial services expansion for consumers in North America and Europe. For further details, visit their official site at www.pragroup.com.
PRA Group, Inc. (Nasdaq: PRAA) reported a significant financial performance for Q3 2020, with net income rising to $42.5 million from $25.0 million in Q3 2019. Diluted earnings per share increased to $0.92, up 67%. Global cash collections reached a record $519.3 million, marking a 15% increase compared to the previous year. Operating expenses decreased by $2.0 million year-over-year. Total portfolio purchases in the quarter were $177.6 million, with an estimated remaining collections (ERC) of $6.3 billion. The company expects rising charge-off rates due to current economic conditions.
PRA Group (Nasdaq: PRAA) will announce its third quarter 2020 results on November 5, 2020, after market close. A webcast and conference call will follow at 5 p.m. E.T.. Investors can access the conference by calling 844-835-9982 in the U.S. or 412-317-5267 internationally. Additionally, PRA Group plans to report its fourth quarter results on February 25, 2021. The company specializes in acquiring and collecting nonperforming loans, supporting financial services expansion.
PRA Group, Inc. (Nasdaq: PRAA) has announced a $210,000 donation to support financial literacy initiatives at West Virginia University (WVU). This partnership aims to fund two seminars focusing on financial literacy for community leaders and educators, positively impacting over 3,500 students. Since 2009, PRA Group has contributed over $7.8 million to similar causes. The partnership aligns with PRA Group's commitment to enhancing financial education, particularly in light of challenges posed by the COVID-19 pandemic.
PRA Group, Inc. (Nasdaq: PRAA) announced the extension and amendment of its North American credit facility on August 26, 2020. Key changes include an additional term loan of $55 million, raising the total term loan to $475 million, and a reduction in domestic revolving credit from $1.068 billion to $1 billion. The Canadian revolving credit facility increased from $50 million to $75 million. The extension moves the maturity date to May 5, 2024, while also adjusting various financial covenants. The CFO expressed optimism about funding for future investment opportunities.
PRA Group, Inc. (Nasdaq: PRAA) has priced $300 million of 7.375% Senior Notes due 2025. The offering, which is set to close around August 27, 2020, is exempt from Securities Act registration requirements. The proceeds will primarily be used to repay $295 million of existing revolving borrowings. The notes will be guaranteed by PRA Group's domestic subsidiaries involved in its North American Credit Agreement. This transaction aims to optimize PRA Group's debt structure while maintaining funding flexibility.