PRA Group highlights net leverage decline to 2.60x in investor presentation
PRAA•PRA Group reported net leverage of 2.60x in Q3 2026, its eighth consecutive quarter of deleveraging. Trailing 12-month adjusted EBITDA rose 9% to $1.4 billion, while cash collections increased 6% to $2.2 billion.
1. Leverage and cash flow
PRA Group said net leverage fell to 2.60x in Q3 2026, marking eight consecutive quarters of deleveraging. Trailing 12-month adjusted EBITDA increased 9% to $1.4 billion, and cash collections rose 6% year over year to $2.2 billion.
2. Liquidity and capital plans
Liquidity stood at about $1 billion. The company said it issued $400 million of Senior Notes due 2033 and used the proceeds to repay its NA RCF. Its strategy targets leverage in the mid-2x range, prioritizes core business investments and allows opportunistic share repurchases under a $150 million authorization.
