PRA Group up 6.1% post Q1 results

|About: PRA Group, Inc. (PRAA)|By:, SA News Editor

PRA Group (PRAA +6.1%) reports Q1 revenue growth of 8% Y/Y to $223.18M.

Global cash collections of $426.6M, an increase of 12% Y/Y, driven by operational efforts & portfolio purchasing.

Cash Collection Source: Americas-Core $246.2M (+8.7% Y/Y); Americas-Insolvency $55.3M (+11% Y/Y); Europe-Core $118.1M (+20.4% Y/Y) & Europe-Insolvency of $7M (+40% Y/Y).

The company invested $168.3M in finance receivables in Q1 & had in place forward flow commitments of $351.3M.

Portfolio Purchase Source: Americas-Core $131.4M (+14.1% Y/Y); Americas-Insolvency $13.4M (-80% Y/Y); Europe-Core $18M (-54.4% Y/Y) & Europe-Insolvency of $5.4M (-10% Y/Y).

Nearly 3,100 full-time U.S. based collectors, an increase of 13% Q/Q.

ERC of $5.78B which increased $634.5M Y/Y & $73.7M Q/Q.

Net finance receivable revenue of $217.7M (+11.9% Y/Y).

Previously: PRA Group beats by $0.12, beats on revenue (May 9)

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