---
schema_version: "secwatch.filing_event.v1"
accession: "0001084961-23-000052"
form_type: "8-K"
ticker: "ECPG"
cik: "0001084961"
company_name: "ENCORE CAPITAL GROUP INC"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:08:16.889844+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Encore Capital Q1 net income down 89% to $18.6M; portfolio purchases up 63% to $276M

## Summary
- GAAP EPS $0.75 vs $6.40 YoY; net income $18.6M down from $175.7M; revenue $312.6M (-37%).
- Collections $462.4M (-11%); US portfolio purchases record $213.5M (more than double Q1 2022).
- European headcount reductions incurred $6M pre-tax charge ($0.19 per share impact).
- Portfolio supply accelerating in US; management expects Q2 US purchases similar to Q1.
- Estimated Remaining Collections (ERC) flat at $7.79B; operating expenses up 3%.

## SEC filing metadata
- accession: 0001084961-23-000052
- form_type: 8-K
- ticker: ECPG
- cik: 0001084961
- company_name: ENCORE CAPITAL GROUP INC
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1084961/000108496123000052/0001084961-23-000052-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1084961/000108496123000052/ecpg-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001084961-23-000052
- JSON: https://secwatch.observer/filing/0001084961-23-000052.json
- Plain text: https://secwatch.observer/filing/0001084961-23-000052.txt

## Key facts
- Earnings Releases
  ENCORE CAPITAL GROUP INC reported the first quarter ended March 31, 2023 results: revenue $312,630, net income $18,626, EPS $0.75.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $312,630
  - Net income: $18,626
  - EPS: $0.75
  - Result: reported results
  source text: First Quarter of 2023: Three Months Ended March 31, (in thousands, except percentages and earnings per share) 2023 2022 Change Collections $ 462,356 $ 519,414 (11)% Revenues $ 312,630 $ 499,682 (37)% Portfolio purchases (1) $ 276,431 $ 169,505 63% Estimated Remaining Collections (ERC) $ 7,789,980 $ 7,799,940 0% Operating expenses $ 242,492 $ 234,668 3% GAAP net
  evidence_url: https://www.sec.gov/Archives/edgar/data/1084961/000108496123000052/0001084961-23-000052-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.