PRA Group Reports Third Quarter 2026 Results
Key Highlights
- ➤PRA Group (PRAA) Q3 net income $15 million, diluted EPS $0.39
- ➤Portfolio income $271 million, up 5% year over year
- ➤Adjusted EBITDA $1.4 billion, up 9% for trailing twelve months
- ➤Adjusted cash efficiency ratio improved over 200 basis points to 63%
- ➤PRA Group issued $400 million senior notes due 2033 in October
Expert Statements
Martin Sjolund, President and Chief Executive Officer of PRA Group
“Building on the positive momentum generated over the past year, we continued to execute against our PRA 3.0 strategy during the third quarter”
Martin Sjolund, President and Chief Executive Officer of PRA Group
“We generated healthy cash collections, grew portfolio income, lowered operating expenses, and continued making disciplined portfolio investments, while achieving meaningful operational progress across many of our strategic initiatives.”
Martin Sjolund, President and Chief Executive Officer of PRA Group
“During the quarter, our adjusted cash efficiency ratio also improved by more than 200 basis points and Adjusted EBITDA continued to grow, reflecting the operating leverage we are beginning to realize from our cost reduction actions and broader PRA 3.0 initiatives.”
Martin Sjolund, President and Chief Executive Officer of PRA Group
“At the same time, we continued to invest in the business through our legal collections channel and technology modernization efforts, while maintaining a disciplined approach to capital deployment focused on attractive net returns in a healthy supply environment.”
Martin Sjolund, President and Chief Executive Officer of PRA Group
“We also strengthened the foundation of the business through the issuance of $400 million in aggregate principal amount of senior notes due 2033 shortly after the quarter ended, further enhancing our funding flexibility and extending our debt maturity profile.”
Martin Sjolund, President and Chief Executive Officer of PRA Group
“I am pleased with the progress we have made since launching our PRA 3.0 strategy. We believe we are on a good trajectory and that our technology modernization and significant investments in legal will strengthen the business in the years to come.”
Continued Execution of PRA 3.0 Strategy Delivering Results and Building a Stronger Foundation for Long-Term Returns
NORFOLK, Va., Nov. 5, 2026 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA) (the "Company"), a global leader in acquiring and collecting nonperforming loans, today reported its financial results for the third quarter of 2026 ("Q3 2026").
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