Encore Capital Q3 GAAP EPS $0.79 (-35% YoY); US portfolio purchases $179M at 2.4x multiple

ENCORE CAPITAL GROUP INC

2023-Q3 EPS reported $2.62 revenue$945,293,000

Global collections $465M (+2% YoY); GAAP net income $19.3M vs $31.5M, down 39%.
GAAP EPS $0.79 vs $1.22 in Q3 2022 (-35%); revenue $309.6M (+1% YoY).
Total portfolio purchases $231M, including $179M US at a 2.4x purchase price multiple.
ERC grew to $7.88B from $7.31B (+8% YoY); added ~$175M liquidity post-quarter.
CEO expects record US capital deployment in 2023 and robust supply pipeline for 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

ENCORE CAPITAL GROUP INC reported the third quarter ended September 30, 2023 results: revenue $309,619, net income $19,339, EPS $0.79.

Period: the third quarter ended September 30, 2023
Revenue: $309,619
Net income: $19,339
EPS: $0.79
Result: reported results

Exact text from the filing

2023 2022 Change Portfolio purchases (1) $ 230,559 $ 232,652 (1)% Estimated Remaining Collections (ERC) $ 7,877,621 $ 7,312,336 8% Collections $ 465,339 $ 458,256 2% Revenues $ 309,619 $ 307,752 1% Operating expenses $ 234,101 $ 227,235 3% GAAP net income $ 19,339 $ 31,494 (39)% GAAP earnings per share $ 0.79 $ 1.22 (35)% ______________________ (1) Includes U.S.

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ENCORE CAPITAL GROUP INC filing history →

Source: SEC EDGAR

accession 0001084961-23-000104

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