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), a leader in acquiring and collecting nonperforming loans, will present at the William Blair 42nd Annual Growth Stock Conference on June 7, 2022, at 1:00 PM ET. The event offers investors insights into the company's operations. A webcast will be accessible via the Investor Relations section of PRA Group's website. With a global presence, the company aids in returning capital to creditors, enhancing financial services for consumers across the Americas, Europe, and Australia.
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PRA Group, Inc. (Nasdaq: PRAA) CEO Kevin Stevenson received the Community Builders Award on May 20, 2022, recognizing his commitment to exemplary leadership and community advocacy. Stevenson has significantly impacted the debt collection industry, fostering a culture of giving back, with $10 million donated to charities and an additional $250,000 recently designated for employee-nominated nonprofits. Under his leadership, PRA Group has created over 1,500 jobs in Virginia, demonstrating a long-term focus on community and employee engagement.
PRA Group (Nasdaq: PRAA) has launched a Mental Emotional Well-Being Employee Resource Group (ERG) to enhance mental health awareness among employees. This initiative aims to provide support and resources for mental wellness, addressing issues such as grief and anxiety. Led by Chris Tignor and Timothy Santo, the ERG reflects the company’s commitment to mental health, paralleling their support for community programs like EQUI-KIDS. Additionally, PRA Group has contributed $100,000 to the Children's Hospital of the King's Daughters to support mental health initiatives.
PRA Group, Inc. (Nasdaq: PRAA) announced the promotion of Jan Husby to Chief Information Officer, effective immediately. Husby, who has over 30 years of IT experience, previously served as CIO for PRA's European operations. In his new role, he will lead IT strategies across PRA Group's global platform, reporting directly to the CFO. Husby's leadership aims to enhance and integrate information technology to support the company's future evolution. He has a master's in Computer Science from Cornell University.
PRA Group, Inc. (Nasdaq: PRAA) reported its Q1 2022 financial results, showing a net income of $40.0 million, down from $58.4 million year-over-year. Diluted earnings per share fell to $0.97 from $1.27. Total cash collections amounted to $481.0 million, a decrease of $74.9 million compared to Q1 2021, attributed to reduced U.S. collections. The company invested $147.5 million in portfolio purchases. Operating expenses declined by $10.1 million, while the effective tax rate was 11.7%. PRAA plans to report Q2 results on August 8, 2022.
PRA Group, Inc. (PRAA) appointed Rakesh Sehgal as Senior Vice President and Head of Corporate Development, effective May 5, 2022. Based in New York, Rakesh will oversee global corporate development, including mergers and acquisitions. With over two decades of experience, he has managed over $50 billion in M&A transactions at General Electric and GE Capital. CFO Pete Graham emphasized Rakesh's role in driving long-term growth and shareholder value as the company prepares for its next phase of evolution.
PRA Group, Inc. (Nasdaq: PRAA) will announce its first quarter 2022 results on May 9, 2022, after market close, followed by a webcast at 5 p.m. E.T. Interested investors can access the call by dialing 844-835-9982 in the U.S. or 412-317-5267 outside the U.S. Additionally, the company plans to release its second quarter 2022 results on August 8, 2022. As a leading firm in acquiring nonperforming loans, PRA Group aims to help expand financial services across several regions.
PRA Group, Inc. (Nasdaq: PRAA) announced the successful refinancing of its European credit facilities on April 1, 2022. This includes an $800 million UK credit facility and a resized $750 million facility for the rest of Europe. The refinancing process has been supported by both new and existing lenders, enhancing the company's flexibility and lowering borrowing costs. The CFO, Pete Graham, acknowledged the ongoing support from their banking partners during this transition.
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