secwatch.observer — SEC 8-K summary
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Issuer:     PRA GROUP INC (PRAA)
CIK:        0001185348
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001185348-23-000017
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PRA Group reports Q1 loss of $58.6M; EPS $(1.50) on falling collections and revenue
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- Net loss $58.6M; diluted EPS $(1.50) vs net income $40.0M and EPS $0.97 in Q1 2022.
- Total cash collections $411.3M, down 14.5% YoY; U.S. call center collections down 30.2%.
- Portfolio purchases $230.2M, up 56% YoY; total portfolio revenue fell to $151.3M from $237.4M.
- Appointed Vikram Atal as president and CEO (March 2023) and Owen James as global investments officer (April 2023).
- Operating expenses up 12.1% driven by $7.5M severance and $7.6M litigation costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1185348/000118534823000017/0001185348-23-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1185348/000118534823000017/praa-20230508.htm
  HTML page:      https://secwatch.observer/filing/0001185348-23-000017

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