PRA Group, Inc. (NASDAQ:PRAA) Q4 2023 Earnings Conference Call February 15, 2024 5:00 PM ET

Company Participants

Najim Mostamand - CFA, Vice President, Investor Relations

Vikram Atal - President and Chief Executive Officer

Rakesh Sehgal - Executive Vice President, Chief Financial Officer

Conference Call Participants

David Scharf - JMP Securities

Mark Hughes - Truist Securities

John Rowan - Janney Montgomery Scott

Robert Dodd - Raymond James

Operator

Good evening and welcome to PRA Group's Fourth Quarter and Full Year 2023 Conference Call. All participants will be in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note 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.

Najim Mostamand

Thank you. Good evening, everyone, and thank you for joining us. With me today are Vik Atal, President and Chief Executive Officer; and Rakesh Sehgal, 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 in 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 2023 and Q4 2022, unless otherwise noted, and our Americas results include Australia. During our call, we will discuss adjusted EBITDA and debt-to-adjusted EBITDA for the 12 months ended December 31, 2023, and December 31, 2022. 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 Vik Atal, our President and Chief Executive Officer.

Vikram Atal

Thank you, Najim, and thank you everyone for joining us this evening. At the start, I want to spend a moment thanking each and everyone of our team members for their hard work, sacrifice and dedication through a challenging year. I could not be proud of their contributions.