PRA Group reports Q2 net income $21.5M ($0.54 EPS) vs loss a year ago; cash collections up 13%

PRA GROUP INC

2024-Q2 EPS reported $0.63 revenue$539,815,000

Net income $21.5M ($0.54 diluted EPS) vs net loss $3.8M in Q2 2023.
Total cash collections $473.9M, up 13% YoY, driven by U.S. and Europe.
Total portfolio purchases $379.4M, third-highest quarterly in five years.
Operating expenses $195.0M, up 19.1% YoY on legal channel investments.
Forward flow commitments $385.6M; credit availability $1.4B as of June 30.

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