PRA Group (NASDAQ: PRAA) reported Q4 EPS of $0.65, $0.03 better than the analyst estimate of $0.62. Revenue for the quarter came in at $273.9 million versus the consensus estimate of $252.1 million.

Fourth Quarter Highlights (compared to the fourth quarter of 2019)

• Total cash collections increased 6% to $481.9 million on a reported basis and a constant currency adjusted basis.
• Total revenues increased 2% to $273.9 million.
• Income from operations increased 26% to $89.2 million.
• Cash efficiency ratio1 of 61.9% during the quarter compared to 59.7% in the fourth quarter of 2019.
• Net income attributable to PRA Group, Inc. increased 9% to $29.8 million.
• Diluted earnings per share increased 8% to $0.65.
• Debt to Adjusted EBITDA2 for the last 12 months decreased to 1.99x from 2.53x at December 31, 2019.
• Total portfolio purchases of $289.8 million.
• Estimated Remaining Collections (ERC) of $6.5 billion.

"Cash collections grew in the quarter driven primarily by increases in nonlegal collections in the U.S. and by Core and Insolvency in Europe. In the U.S., we continue to see customers choosing to voluntarily resolve their debts through the call centers and digital platforms. In Europe, cash collections were driven by record portfolio purchases in 2019, as well as strong investment levels in 2020 at increased underwritten net returns," said Kevin Stevenson, president and chief executive officer. "Looking ahead, we entered 2021 with a similar base of maximum forward flow commitments as 2020, but we expect they will deliver more actual investment volume. We believe that the pipeline for 2021 is strong, particularly in Europe, and we remain optimistic about supply globally."

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