PRA Group (PRAA) Reports In-Line Q2 EPS, Revenues Miss

PRA Group (NASDAQ: PRAA) reported Q2 EPS of $0.43, in-line with the analyst estimate of $0.43. Revenue for the quarter came in at $219.02 million versus the consensus estimate of $221.17 million.

"The second quarter was characterized by the same themes we have experienced since late last year – increased cash collections, increased supply and appropriate staffing in the U.S., and a focus on discipline and operations in Europe. With a record investment quarter in Americas Core coupled with our view that supply will continue to increase in the future, we are now planning to open our next domestic call center," said Kevin Stevenson, president and chief executive officer. "We have also seen an increase in the number of accounts qualifying for our legal collections channel in the U.S. As a result of this, combined with the aforementioned increase in supply, we expect additional legal collection expenses in the back half of the year as we invest in the legal channel."

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

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