PRA Group (NASDAQ: PRAA) reported Q4 EPS of $0.60, $0.11 better than the analyst estimate of $0.49. Revenue for the quarter came in at $269.13 million versus the consensus estimate of $251.98 million.

Fourth Quarter Highlights

• Global cash collections of $456.6 million, an increase of 13%, or 14% on a currency adjusted basis, compared to the fourth quarter of 2018.
• Record Estimated Remaining Collections (ERC) of $6.8 billion, an increase of $611.1 million, or 10%, compared to the fourth quarter of 2018.
• Total portfolio purchases for the quarter of $402.3 million.
• Income recognized on finance receivables of $262.8 million, an increase of 14% compared to the fourth quarter of 2018.
• Income from operations of $70.8 million, an increase of 120% compared to the fourth quarter of 2018.
• Cash efficiency ratio of 59.7% during the quarter compared to 55.0% in the fourth quarter of 2018.

"2019 was a year that demonstrated what our focus on the long-term can deliver. In the Americas, we continued to reap the benefits of our investment in the legal collections channel, the change in ownership in Brazil and the acquisition in Canada. In Europe, our patience and discipline placed us in a unique competitive position to drive record portfolio purchases," said Kevin Stevenson, president and chief executive officer. "Our willingness to invest in people, digital, data, and legal over the past few years prepared us to capitalize on the U.S. market where we see steady supply, rational returns, and healthy market share; and in Europe, where we see increasing supply, increasing returns and increasing market share. Our efforts drove additional records in cash collections, revenue, and ERC for the year."

For earnings history and earnings-related data on PRA Group (PRAA) click here.