PRA Group reports Q2 EPS $1.08 vs. 54c last year

Reports Q2 revenue $287.69M, consensus $279.34M. “The second quarter represented another positive step in our journey of creating sustained shareholder value,” said Martin Sjolund, president and chief executive officer. “We had another period of robust portfolio investments at attractive purchase price multiples, record ERC, and improved portfolio income as we continue to focus on high-return opportunities. Improvement in our cash efficiency ratio reflects the work we have been doing to increase cash collections and manage expenses, leading to Adjusted EBITDA growth that outpaced cash collections growth.”