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) has announced plans to offer $300 million in senior notes due 2025 in a private transaction. The offering, exempt from the registration requirements of the Securities Act, will be guaranteed by existing and future subsidiaries. Proceeds from the notes will primarily be used to repay $295 million of outstanding revolving borrowings under its North American Credit Agreement. This transaction aims to optimize the company’s financial structure and is directed at qualified institutional buyers.
PRA Group, Inc. (Nasdaq: PRAA) reported robust Q2 2020 results, with net income surging to $57.9 million, up 211% from Q2 2019. Diluted earnings per share reached $1.26, a 207% increase year-over-year. Global cash collections hit a record $509.9 million, reflecting an 8% increase compared to Q2 2019. Total revenues also achieved a record of $271.9 million. Despite a decrease in investment levels affecting Americas Insolvency collections, the overall performance demonstrates strong cash collection trends, particularly in the U.S.
PRA Group, Inc. (Nasdaq: PRAA), a leader in acquiring nonperforming loans, will announce its second quarter 2020 results on August 6, 2020, after market close. A webcast and conference call will follow at 5 p.m. E.T.. Investors can listen to the call by calling 844-835-9982 in the U.S. or 412-317-5267 internationally. The company also plans to report its third quarter results on November 5, 2020. For more details, visit their investor relations page.
PRA Group (Nasdaq: PRAA) announced the appointment of Brett Paschke to its Board of Directors effective July 1, 2020. Paschke, a partner and managing director at William Blair & Company, will serve on the Audit and Compliance Committees. He has extensive experience in capital markets, having led the Equity Capital Markets Group since 2009. His expertise in nonperforming loans and public company strategies is expected to enhance PRA's strategic direction. Paschke holds a BA from Princeton University and an MBA from Harvard Business School.
PRA Group, Inc. (Nasdaq: PRAA) announced the resignation of Geir Olsen from its board of directors effective June 14, 2020, to focus on other business obligations. Olsen, who led PRA Group Europe since its acquisition of Aktiv Kapital in July 2014, had been a board member since January 2016, contributing valuable insights and leadership. Chairman Steve Fredrickson expressed gratitude for Olsen's contributions, particularly in navigating the European market. Olsen acknowledged the positive experiences during his tenure and wished the company continued success.