- PRA Group (PRAA +7.1%) reports Q2 revenue growth of 13.8% Y/Y to $252.1M.
- Global cash collections of $470.3M, an increase of 16% Y/Y and on a currency adj. basis increased 18% Y/Y.
- Cash Collection Source: Americas-Core $294.2M (-14.3% Y/Y); Americas-Insolvency $49.8M (+11.7% Y/Y); Europe-Core $117.6M (+0.5% Y/Y) & Europe-Insolvency of $8.6M (-4.4% Y/Y).
- Portfolio Purchase Source: Americas-Core $122M (-27.8% Y/Y); Americas-Insolvency $26.1M (-46% Y/Y); Europe-Core $136.3M (+44.7% Y/Y) & Europe-Insolvency of $4.7.M (-33.8% Y/Y).
- Cash collections on fully amortized pools were $13.3M and cash collections on nonaccrual pools were $3.8M.
- The company invested $289.1M in finance receivables in Q2 & had in place forward flow commitments of $713.4M.
- Record estimated remaining collections of $6.4B and income recognized on finance receivables of $249.2M (+13.8% Y/Y).
- Previously: PRA Group EPS beats by $0.05, beats on revenue (Aug. 08 2019)