PRA GROUP INC
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
PRAA$11.96-5.9%Stored close · as of Nov 10, 2026
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Consolidated Income Statements
For the Three and Six Months Ended June 30, 2024 and 2023
(Amounts in thousands, except per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Portfolio income | $209,290 | $184,290 | $411,346 | $372,532 |
| Changes in expected recoveries | 73,320 | 21,136 | 124,994 | (15,776) |
| Total portfolio revenue | 282,610 | 205,426 | 536,340 | 356,756 |
| Other revenue | 1,619 | 3,810 | 3,475 | 7,950 |
| Total revenues | 284,229 | 209,236 | 539,815 | 364,706 |
| Operating expenses: | ||||
| Compensation and employee services | 74,241 | 65,788 | 147,838 | 148,191 |
| Legal collection fees | 13,762 | 9,551 | 25,874 | 18,389 |
| Legal collection costs | 35,274 | 21,522 | 61,965 | 45,467 |
| Agency fees | 21,008 | 17,677 | 40,731 | 35,055 |
| Outside fees and services | 18,124 | 18,262 | 43,174 | 43,206 |
| Communication | 11,577 | 10,117 | 24,155 | 20,644 |
| Rent and occupancy | 4,136 | 4,319 | 8,280 | 8,767 |
| Depreciation and amortization | 2,637 | 3,482 | 5,357 | 7,071 |
| Other operating expenses | 14,248 | 12,957 | 26,823 | 25,999 |
| Total operating expenses | 195,007 | 163,675 | 384,197 | 352,789 |
| Income from operations | 89,222 | 45,561 | 155,618 | 11,917 |
| Other income and (expense): | ||||
| Interest expense, net | (55,353) | (43,022) | (107,631) | (81,305) |
| Foreign exchange gain/(loss), net | (99) | 429 | 128 | 420 |
| Other | 46 | (230) | (160) | (880) |
| Income/(loss) before income taxes | 33,816 | 2,738 | 47,955 | (69,848) |
| Income tax expense/(benefit) | 8,702 | 1,578 | 11,088 | (17,105) |
| Net income/(loss) | 25,114 | 1,160 | 36,867 | (52,743) |
| Adjustment for net income attributable to noncontrolling interests | 3,598 | 4,964 | 11,876 | 9,690 |
| Net income/(loss) attributable to PRA Group, Inc. | $21,516 | $(3,804) | $24,991 | $(62,433) |
| Net income/(loss) per common share attributable to PRA Group, Inc.: | ||||
| Basic | $0.55 | $(0.10) | $0.64 | $(1.60) |
| Diluted | $0.54 | $(0.10) | $0.63 | $(1.60) |
| Weighted average number of shares outstanding: | ||||
| Basic | 39,364 | 39,190 | 39,319 | 39,111 |
| Diluted | 39,546 | 39,190 | 39,497 | 39,111 |
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