PRA Group, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Tax Rate Guidance for the Year 2018
May 09, 2018 at 04:05 pm EDT
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PRA Group, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company's total revenues were $223,183,000 compared to $206,558,000 a year ago. Income from operations was $53,614,000 compared to $53,257,000 a year ago. Income before income taxes was $29,369,000 compared to $81,024,000 a year ago. Net income attributable to the company was $21,106,000 or $0.47 per diluted share, compared to $48,167,000 or $1.03 per diluted share, a year ago.
For the year 2018, the company expects 21% the company's best view as of right now for the full year tax rate.
PRA Group, Inc. is a financial and business services company with operations based primarily in the Americas and Europe and Australia. The Companyâs primary business is the purchase, collection and management of portfolios of nonperforming loans. The accounts it purchases are primarily the unpaid obligations of individuals owed to credit originators. It purchases portfolios of nonperforming loans at a discount in two categories: Core and Insolvency. Core operation specializes in purchasing and collecting nonperforming loans, which it purchases since the credit originators have chosen not to pursue, or have been unsuccessful in, collecting the full balance owed. Insolvency operation consists primarily of purchasing and collecting nonperforming loans where the customer is involved in a bankruptcy proceeding, or the equivalent thereof, in certain European countries. It also provides fee-based services on class action claims recoveries in the United States.
PRA Group, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Tax Rate Guidance for the Year 2018
PRA GROUP, INC. 
