The American debt buyer has released its third quarter 2024 data, which show solid performance and effective operational management.
Here are the most relevant data for this quarter:
Net profit: PRA Group recorded a net profit of $27.2 million, equivalent to a diluted earnings per share of $0.69. This result includes an extraordinary tax benefit of $7.7 million, equal to approximately $0.20 per share, which contributed positively to the quarter’s numbers.
Robust investments in portfolio acquisitions. 350 million of dollar was spent to expand its owner portfolio, which is reflected in a new record on the ERC (Estimated remain collections) which reached $7.3 billion.
In terms of collections, $477.11 million were collected in the quarter.
Adjusted EBITDA: PRA Group reported an adjusted EBITDA of $1.1 billion, consolidating its financial position.
But above all, there was a significant growth in revenues in Q3, which increased by 30.5% to $276.7 million compared to $212.1 million in the same period in 2023
Pra Group is listed on the Nasdaq in NY, which seems to have rewarded the company’s data. In fact, the share saw a significant increase between the end of October and the beginning of November.
If you want to see the complete data, click here.
