Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Pra Group Inc. (PRAA)
NASDAQ:PRAA
Holding PRAA?
Track your performance easily
Earnings Data
Report Date
Mar 03, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.44Last Year’s EPS
-0.22Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 08, 2018
|% Change Since: 3.65%
|Next Earnings Date:Aug 07, 2018
Earnings Call Sentiment|Positive
The earnings call presented a strong performance with record portfolio purchases, increased cash collections, and significant revenue growth. Operational improvements, particularly in legal collections, and strategic optimization of facilities and workforce were highlighted as key factors driving future growth. However, increased operating expenses and net interest costs, along with ongoing macroeconomic pressures, were noted as challenges.Company Guidance
During the PRA Group's Q3 2024 earnings call, the company provided guidance emphasizing robust financial performance and strategic goals. They reported strong cash collections of $477 million, up 14% year-over-year, with a year-to-date total of $1.4 billion. Portfolio purchases reached $350 million in the quarter, contributing to a year-to-date record of $975 million. The company expects full-year portfolio purchases to total around $1.4 billion, and predicts another year of portfolio purchases exceeding $1 billion in 2025. They highlighted an effective tax rate for Q3 of negative 2% and noted net income of $27 million, or $0.69 per diluted share. The debt-to-adjusted EBITDA ratio was at 3x, with expectations to reduce this ratio through 2025. Looking forward, PRA Group anticipates 8-10% cash collection growth and aims for a return on average tangible equity of over 8% for 2024, with a goal of achieving double-digit returns in 2025.Record Portfolio Purchases
PRA Group purchased $975 million globally year-to-date, a record amount for the company. In the U.S., portfolio purchases during the quarter were $231 million, up 35% from the prior year, and $625 million year-to-date, up 46% year-over-year.
Increased Cash Collections
Cash collections for the quarter were $477 million, up 14% from the prior year. Year-to-date cash collections increased by 12% to $1.4 billion, with the Americas overperforming by 9% and Europe by 11%.
Strong Revenue Growth
Total revenues for the quarter were $281 million, up 30% from the prior year. Year-to-date, revenues increased by 41% to $821 million.
Legal Collections Channel Improvement
U.S. legal cash collections increased from $65 million in Q3 2023 to $98 million in Q3 2024, a 51% year-over-year increase, due to improvements in cycle times and post-judgment monetization.
Strategic Facility and Workforce Optimization
Collector headcount increased to 1,200, with 25% offshore, contributing to $10 million in annualized savings. The company plans to reduce U.S. operating sites to 3 by mid-2025 to further cut costs.
Potential for Further Growth
Expectations for 2025 include portfolio purchases exceeding $1 billion, cash collection growth of 8-10%, and achieving a double-digit return on average tangible equity.
---
PRAA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
PRAA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $20.56 | $23.83 | +15.90% |
| Aug 05, 2024 | $23.24 | $21.18 | -8.86% |
| May 06, 2024 | $25.33 | $25.04 | -1.14% |
| Feb 15, 2024 | $24.51 | $28.00 | +14.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Pra Group Inc. (PRAA) report earnings?
Pra Group Inc. (PRAA) is schdueled to report earning on Mar 03, 2025, TBA Not Confirmed.
What is Pra Group Inc. (PRAA) earnings time?
Pra Group Inc. (PRAA) earnings time is at Mar 03, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PRAA EPS forecast?
PRAA EPS forecast for the fiscal quarter 2024 (Q4) is 0.44.
---