Encore Capital Q2 GAAP EPS $1.08, revenue down 9% YoY; portfolio purchases up 59% to $274M

ENCORE CAPITAL GROUP INC

2023-Q2 EPS reported $1.83 revenue$635,674,000

GAAP net income $26.3M ($1.08 per share) vs $60.4M ($2.29) a year ago, down 56%.
Revenue $323M, down 9% YoY from $357M; global collections $477M, down 4%.
Portfolio purchases surged 59% to $274M, driven by $213M in U.S. (flat QoQ).
Estimated Remaining Collections (ERC) $7.98B, up 6% YoY.
CEO expects steady ERC and earnings growth on higher U.S. purchases and improving returns.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ENCORE CAPITAL GROUP INC reported second quarter ended June 30, 2023 results: net income $26,305 (in thousands), EPS $1.08.

Period: second quarter ended June 30, 2023
Net income: $26,305 (in thousands)
EPS: $1.08
Result: reported results

Exact text from the filing

On August 2, 2023, Encore Capital Group, Inc. (“Encore”) issued a press release announcing its financial results for the quarter ended June 30, 2023.

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ENCORE CAPITAL GROUP INC filing history →

Source: SEC EDGAR

accession 0001084961-23-000087

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