PRA Group reports Q1 EPS 73c vs. 9c last year

Reports Q1 revenue $314.53M, consensus $295.94M. “We had a strong start to 2026, building on the success we achieved last year with continued improvement in our key financial and operational metrics,” said CEO Martin Sjolund. “Cash collections grew 11% from the prior-year period…Our cash efficiency ratio improved to 62%, even with the increase in legal collection costs to support future collections growth. Net income increased to $28M and Adjusted EBITDA for the last twelve months was up 14%, growing faster than cash collections, as we continued to gain operating leverage. Overall, Q1 was another solid quarter, with strong execution across several operational initiatives and improved financial results. Looking ahead to the rest of the year, we plan to continue making progress on our new PRA 3.0 strategy, including modernizing our technology platforms and innovating with our new mobile app in the UK and global AI initiatives. We believe we are in a strong position to continue delivering enhanced results and value for our shareholders, as we transform PRA into a high-performing, technology-enabled global allocator of capital.”