PRA (US:PRAA)2022-05-16 09:58Financial Performance - Global cash collections reached $481 million in Q1 2022[4] - Net income attributable to PRA Group was $40 million in Q1 2022[4], a decrease of 32% compared to $58 million in Q1 2021[13] - Total revenues decreased by 17% from $289 million in Q1 2021 to $241 million in Q1 2022[11] - Diluted earnings per share decreased by 24% from $1.27 in Q1 2021 to $0.97 in Q1 2022[15] Investments and Capital Allocation - Portfolio purchases totaled $147 million in Q1 2022[4, 6] - The company repurchased $39 million of common stock in Q1 2022 at an average price of $45.88[4, 28] - $128 million remains in the share repurchase authorization[28] Operational Efficiency and Portfolio - The company's cash efficiency ratio remains high at 65.1% in Q1 2022[20] - Estimated Remaining Collections (ERC) is diversified, with 52% in Europe and 40% in the U S [23] - Total Borrowings $2539 million and Debt to Adjusted EBITDA is 1 89x as of March 31, 2022[26]