Portfolio Recovery Associates (PRAA) Misses Q1 EPS by 1c

Portfolio Recovery Associates (NASDAQ: PRAA) reported Q1 EPS of $0.86, $0.01 worse than the analyst estimate of $0.87. Revenue for the quarter came in at $193.9 million versus the consensus estimate of $193.68 million.

"PRA is pleased to announce that first quarter collections, revenues and net income were up year-over-year. Our results in the first quarter met our expectations and we've made good progress toward expanding our debt buying business throughout Europe with our announced acquisition of Aktiv Kapital. We are working hard to close the Aktiv acquisition along with the acquisition of Pamplona's IVA platform," said Steve Fredrickson, chairman, president and chief executive officer, PRA.

"While the supply of available debt to acquire in the U.S. remains lower than in years past, PRA invested $153 million across North America and the U.K." Fredrickson said.

For earnings history and earnings-related data on Portfolio Recovery Associates (PRAA) click here.

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