Encore Capital reports FY2023 net loss of $206.5M, driven by $238.2M goodwill impairment

ENCORE CAPITAL GROUP INC

2023-FY EPS reported -$8.72 revenue$1,222,680,000

Full-year 2023 GAAP net loss $206.5M ($8.72 loss per share) vs net income $194.6M ($7.46 EPS) in 2022.
Revenue $1,222.7M, down 13% YoY; collections $1,862.6M, down 3%.
Portfolio purchases increased 34% to $1.074B, with a record $815M in the U.S.
Goodwill impairment of $238.2M ($10.06/share) drove net loss; no liquidity impact.
Management expects portfolio purchases and collections to grow in 2024; Q1 committed purchases $230M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ENCORE CAPITAL GROUP INC reported financial results for the quarter and full fiscal year ended December 31, 2023.

Period: the quarter and full fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 21, 2024, Encore Capital Group, Inc. ("Encore") issued a press release announcing its financial results for the quarter and full fiscal year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001084961-24-000006

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