Pra Group Inc Stock Price, News & Analysis

PRA Group, Inc. (Nasdaq: PRAA) has successfully completed the refinancing of its $750 million European revolving credit facility as of November 23, 2022. The refinancing includes a €730 million revolving credit facility and an uncommitted accordion feature allowing for an additional €500 million, subject to specific terms. Executive Vice President and CFO Pete Graham stated this move enhances the company's balance sheet and capital position, enabling further investment in European markets with anticipated portfolio supply growth.

PRA Group, Inc. (Nasdaq: PRAA) reported Q3 2022 financial results, highlighting total portfolio purchases of $183.1 million and cash collections of $412.3 million. Diluted earnings per share were $0.63, down from $0.76 in Q3 2021. Total cash collections decreased by 15.6% year-over-year, largely due to a 29.3% decline in U.S. collections. Operating expenses were reduced by 6.5%, indicating improved cost management. The company repurchased $25.0 million, with $67.7 million remaining under the program. Estimated remaining collections stand at $5.3 billion.

PRA Group, Inc. (Nasdaq: PRAA), a leader in acquiring nonperforming loans, will announce its third quarter 2022 results post-market on November 3, 2022. A conference call will follow at 5 p.m. E.T. for investors and analysts. Additionally, the firm plans to report its fourth quarter and full-year results on February 27, 2023. For more details, stakeholders can access the webcast at PRA Group Events.

PRA Group, Inc. (PRAA) President and CEO Kevin Stevenson delivered a keynote at the Virginia Chamber's 2022 Education and Workforce Conference, attended by over 400 leaders. Stevenson emphasized the need for private sector investment in education to strengthen Virginia's workforce. He proposed three key initiatives: enhancing pathways to in-demand careers, creating equitable philanthropic partnerships, and collaborating with higher education institutions. PRA Group, headquartered in Norfolk, has been committed to Virginia's economic growth for over 25 years, supporting local organizations and promoting work-based learning opportunities.

PRA Group, Inc. (Nasdaq: PRAA) announced the release of a new investor presentation, detailing its business, financials, and role in the nonperforming loans (NPL) industry. Highlights include insights into the NPL market, financial performance, and strategies for increasing portfolio supply. The company emphasizes shareholder value growth and communication with investors. Access the full presentation on their investor relations website for more information.

PRA Group's CEO, Kevin Stevenson, has been recognized for the third consecutive year in the Virginia 500 Power List for 2022-23, highlighting influential leaders in various sectors. The recognition emphasizes Stevenson's role in the nonperforming loan industry and the company's commitment to improving consumer financial futures. PRA Group aims to contribute positively to communities and the economy through its efforts in debt resolution and employee development. The announcement reflects PRA Group's prominence in the financial sector.

PRA Group, Inc. (Nasdaq: PRAA) reported Q2 2022 financial results, highlighting total portfolio purchases of $231.3 million and cash collections of $444.1 million. Net income was $36.5 million, with diluted earnings per share at $0.91, a decrease from $1.22 in Q2 2021. The company noted a strong balance sheet, with $1.6 billion available under credit facilities. However, cash collections fell 18.3% from the previous year, primarily due to lower U.S. collections. Despite these challenges, PRAA remains committed to disciplined capital allocation and share repurchases.