PRA Group Reports Q3 2026 Results with Increased Portfolio Income and Deleveraging
PRA Group (PRAA) reported third-quarter 2026 financial results characterized by a strategic shift toward European markets. While total revenues decreased to $286 million from $311 million in the prior year due to lower expected recoveries, portfolio income grew by 5% to $271 million, driven by recent acquisitions in Europe. The company's Estimated Remaining Collections (ERC) rose 5% year-over-year to $8.8 billion. Operational efficiency improved significantly through workforce reduction initiatives and organizational simplification, leading to a 9% increase in trailing 12-month adjusted EBITDA. Management also achieved its eighth consecutive quarter of deleveraging, bringing net leverage down to 2.6x. Despite competitive pressures in the U.S. market, the company maintains strong liquidity with $1 billion in total cash and credit availability.
Tickers: $PRAA
Topics: deleveraging EBITDA net income portfolio growth revenue
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Part of the story Fintech Sector Reports Strong Q3 2026 Results and Raised Annual Guidance (26 articles)