PRA Group Q3 net income $27.2M ($0.69 EPS) vs year-ago loss; raises 2024 ROATE target to 8%+

PRA GROUP INC

2024-Q3 EPS reported $1.32 revenue$821,292,000

Net income $27.2M ($0.69 diluted EPS) vs net loss of $12.3M ($0.31 loss) in Q3 2023; includes $0.20 tax benefit.
Total cash collections $477.1M, up 13.7% YoY; record ERC of $7.3B.
Portfolio purchases $350M; forward flow commitments of $491.1M over next 12 months.
2024 cash efficiency target ~60%; ROATE target raised to 8%+ (from 6%-8%).
2025 targets: portfolio >$1B, cash collections growth 8%-10%, double-digit ROATE.

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