PRA Group, Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $372.2 million for the second quarter of 2026, a 29.4% increase from $287.7 million in the same period last year. The company's net income attributable to PRA Group, Inc. was $57.9 million, up 36.7% from $42.4 million in the prior year. For the first half of 2026, net income rose to $86.1 million, compared to $46.0 million in the first half of 2025, reflecting a year-over-year increase of 87.1%. The company attributed this growth to higher portfolio income and substantial changes in expected recoveries, which increased by 191.1% to $96.9 million in the second quarter.
In terms of operational metrics, PRA Group's finance receivables, net, increased to $4.7 billion as of June 30, 2026, a slight rise from $4.7 billion at the end of 2025. The company reported cash collections of $558.5 million for the second quarter, marking a 4.2% increase from the previous year. The company also noted a decrease in portfolio purchases, which totaled $296.6 million in the second quarter, down 14.4% from $346.5 million in the same quarter of 2025. This reduction was primarily due to a disciplined purchasing strategy focused on net returns.
PRA Group has made strategic moves to enhance its operational efficiency, including a second wave of cost reductions aimed at simplifying its U.S. business. The company has also consolidated its call center operations and reduced its workforce, resulting in a 16.6% decrease in full-time equivalents to 2,417 employees as of June 30, 2026. Additionally, the company refinanced its European revolving credit facility in April 2026, extending its maturity and adjusting certain financial covenants.
Looking ahead, PRA Group remains optimistic about its growth trajectory, particularly in its European markets, where it has updated forecasts for expected recoveries based on sustained cash collections performance. The company anticipates continued geographic diversification, with U.S. and European operations contributing significantly to its estimated remaining collections of $8.9 billion. The management's forward-looking statements indicate a commitment to maintaining a diversified capital structure while pursuing further portfolio acquisitions and operational improvements.
About PRA GROUP INC
PRA Group Inc. is a global financial services company specializing in purchasing, managing, and collecting nonperforming loans from consumers across multiple asset classes, including credit cards, auto loans, and insolvency portfolios. Operating in 18 countries, it leverages data-driven models, digital channels, and legal strategies to maximize recoveries, while maintaining compliance with complex international and domestic regulations. Its core value lies in efficient portfolio acquisition and collection, supported by strong relationships and a diversified global presence.
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