Encore Capital Group (ECPG) Tops Q3 EPS by 25c

Encore Capital Group (NASDAQ: ECPG) reported Q3 EPS of $1.64, $0.25 better than the analyst estimate of $1.39. Revenue for the quarter came in at $356 million versus the consensus estimate of $348.73 million.

“The third quarter was another outstanding period for Encore,” said Ashish Masih, President and Chief Executive Officer. “We have again achieved record results across a number of key financial measures and we are delivering our strongest performance in years.

“We continue to make solid progress on our strategic priorities that are contributing to our success. We are strengthening our balance sheet, focusing our resources on the U.S. and U.K. markets, where we have the highest returns, and continuing to enhance our competitive advantages through innovation.

“In the U.S., portfolio purchases of $173 million were up 41% compared to the same period a year ago, keeping us on track to establish a new record for purchases in the U.S. in 2019. In Europe, Cabot’s debt leverage continues to improve, driven by gains in operating efficiency and our focus on purchasing portfolios at higher returns. At the same time in Europe, cash collections grew 3% and estimated remaining collections grew 4%, both in constant currency terms,” said Masih.

For earnings history and earnings-related data on Encore Capital Group (ECPG) click here.

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