PRA Group returns to profitability in Q1 2024; EPS of $0.09 vs. ($1.50) loss

PRA GROUP INC

2024-Q1 EPS reported $0.09 revenue$255,586,000

Net income of $3.5M vs. ($58.6M) loss in Q1 2023; diluted EPS $0.09.
Total cash collections $449.5M, up 9.3% YoY; U.S. Core collections rose to $256.9M.
Portfolio purchases of $245.8M in Q1; forward flow commitments of $473.9M over 12 months.
Total portfolio revenue surged to $253.7M from $151.3M, driven by $51.7M in positive changes in recoveries.
Reiterates 2024 targets: double-digit cash collections growth, 60%+ cash efficiency ratio, 6%-8% ROATE.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PRA GROUP INC reported first quarter of 2024 results: revenue $253.7 million, net income $3,475, EPS $0.09. Guidance reaffirmed.

Period: first quarter of 2024
Revenue: $253.7 million
Net income: $3,475
EPS: $0.09
Guidance: reaffirmed
Result: reported results

Exact text from the filing

first quarter of 2023 ("Q1 2023"). The increase was driven by higher cash collections in our U.S., Europe, and Brazil Core portfolios. • Total portfolio revenue in Q1 2024 was $253.7 million compared to $151.3 million in Q1 2023. Three Months Ended March 31, ($ in thousands) 2024 2023 Portfolio income $ 202,056 $ 188,242 Changes in expected future recoveries $ 15,836

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Source: SEC EDGAR

accession 0001185348-24-000022

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