PRA Group (PRAA) Misses Q1 EPS by 9c

PRA Group (NASDAQ: PRAA) reported Q1 EPS of $0.85, $0.09 worse than the analyst estimate of $0.94. Revenue for the quarter came in at $224.9 million versus the consensus estimate of $239.93 million.

“Broadly speaking, cash results from our global operations were generally in line with our internally forecasted expectations. Globally, our buying in Q1 was quite strong as we invested $337 million in the quarter. This enabled us to grow estimated remaining collections to a record $5.3 billion,” said Steve Fredrickson, chairman and chief executive officer, PRA Group. “Our strategy going forward continues to be taking advantage of our access to low cost capital, low operating costs, scale and underwriting prowess and pressing those advantages in every market in which we operate.”

For earnings history and earnings-related data on PRA Group (PRAA) click here.

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