Published on 8 May 2024 on Zacks via Yahoo Finance
PRA Group's (PRAA) Shares Down Despite Q1 Earnings Beat
PRA Group, Inc.’s PRAA shares lost 1.1% since it reported first-quarter 2024 results on May 6, 2024. Despite an earnings beat, investors might have been worried about increased legal collection fees and expenses. However, the negatives were partially offset by robust portfolio income, growing cash collection, improving pricing and better operational results in Brazil, Europe and the United States.
PRAA reported a first-quarter 2024 earnings per share of 9 cents, which outpaced the Zacks Consensus Estimate by a whopping 160%. An adjusted operating loss of $1.5 per share was incurred in the prior-year quarter.