PRA Group, Inc. (NASDAQ:PRAA) Q2 2024 Earnings Conference Call August 5, 2024 5:00 PM ET

Company Participants

Najim Mostamand - Vice President, Investor Relations
Vikram Atal - President and Chief Executive Officer
Rakesh Sehgal - Executive Vice President and Chief Financial Officer

Conference Call Participants

David Scharf - Citizens JMP
Mark Hughes - Truist
Sean-Paul Adams - Raymond James

Operator

Good evening and welcome to PRA Group’s Second Quarter 2024 Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the call over to Mr. Najim Mostamand, Vice President, 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 our earnings press release issued today 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 Q2 2024 and Q2 2023, 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 June 30, 2024, and December 31, 2023. Please refer to the appendix of the slide presentation used during this call for a reconciliation of the most directly comparable US 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. The second quarter was another important step in demonstrating the turnaround in our US business, delivering against our financial and operational targets for 2024 and positioning the company for future growth.