PRA Group, Inc. (NASDAQ:PRAA) Q4 2022 Results Conference Call February 27, 2023 5:00 PM ET

Company Participants

Najim Mostamand - Vice President of Investor Relations

Kevin Stevenson - President & Chief Executive Officer

Pete Graham - Executive Vice President & Chief Financial Officer

Conference Call Participants

Bob Napoli - William Blair

David Scharf - JMP Securities

Mark Hughes - Truist

Robert Dodd - Raymond James

Operator

Good afternoon, and welcome to the PRA Group's Q4 2022 Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Mr. Najim Mostamand, Vice President of Investor Relations for PRA Group. Please go ahead, sir.

Najim Mostamand

Thank you. Good evening, everyone, and thank you for joining us today. With me are Kevin Stevenson, President and Chief Executive Officer; and Pete Graham, Executive Vice President and Chief Financial Officer.

We will make forward-looking statements during the call, which are based on management's current beliefs, projections, assumptions and expectations. We assume no obligation to revise or update these statements. We caution listeners that these forward-looking statements are subject to risks, uncertainties, assumptions and other factors that could cause our actual results to differ materially from our expectations.

Please refer to the earnings press release and our SEC filings for a detailed discussion of these factors. The earnings release, the slide presentation that we will use during today's call and our SEC filings can all be found on the Investor Relations section of our website at www.pragroup.com.

Additionally, a replay of this call will be available shortly after its conclusion, and the replay dial-in information is included in the earnings press release. All comparisons mentioned today will be between Q4 2022 and Q4 2021, unless otherwise noted, and our Americas results include Australia.

During our call, we will discuss adjusted EBITDA and debt-to-adjusted EBITDA for the years ended December 31, 2022, and December 31, 2021. Please refer to today's earnings release and the appendix of the slide presentation used during this call for a reconciliation of the most directly comparable U.S. GAAP financial measures to these non-GAAP financial measures.

And with that, I'd now like to turn the call over to Kevin Stevenson, our President and Chief Executive Officer.

Kevin Stevenson

Well, thank you, Najim, and thank you, everyone, for joining us this evening. 2022 was certainly not a normal year. And we witnessed inflation around the world reach multi-decade records. The dollar reached heights not seen since the start of the millennium. The people of Ukraine standing in defense from a Russian invasion and countries continue to grapple with the challenges of COVID-19.