Earnings Releases·Nov 5, 2026, 4:07 PM ET

PRA Group — Q3 2026 Earnings Summary

Q3 2026 net income turned positive at $15 million ($0.39 diluted EPS) versus a $408 million loss ($10.43 diluted EPS) in Q3 2025, driven by a $413 million non-cash goodwill impairment charge in the prior year; adjusted EBITDA for the trailing twelve months rose 9% to $1.4 billion.
Total portfolio revenue declined 8% to $285 million due to a drop in changes in expected recoveries to $14 million from $51 million, while portfolio income increased 5% to $271 million and total cash collections fell slightly to $536 million.
Management confirmed the company is on a positive trajectory following the PRA 3.0 strategy launch, citing technology modernization and legal investments as key drivers for future operating leverage and cost reduction.
Capital deployment remained disciplined with $229 million in portfolio purchases for the quarter, while the company issued $400 million in senior notes in October 2026 to extend debt maturity and enhance funding flexibility.