Encore Capital Group (ECPG) Tops Q3 EPS by 6c

Encore Capital Group (NASDAQ: ECPG) reported Q3 EPS of $1.17, $0.06 better than the analyst estimate of $1.11.

"Encore delivered record earnings per share during the third quarter, driven by our continued focus on growing the core business while diversifying into new geographies and asset classes," said Kenneth A. Vecchione, President and Chief Executive Officer. "Our international operations contributed more than one fourth of the quarter's collections, which grew meaningfully to $407 million. Similarly, we deployed more than one third of our capital overseas, enabling us to grow our Estimated Remaining Collections to a record $5.1 billion."

"On the core business front, the acquisition of Atlantic Credit & Finance closed during the quarter, and the integration is progressing as we expected," Vecchione said. "ACF's continued success in collecting on recently charged-off, higher-balance accounts expands our capabilities and enables us to deploy additional capital in the recently charged-off market segment in the U.S. Our asset class expansion, coupled with our global diversification strategy, has positioned Encore to continue to thrive in a time of ongoing industry change and consolidation."

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

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