Encore Capital Group (ECPG) Misses Q4 EPS by 4c; Will Seel Propel Financial Services, Sees $150M in Post-Tax Proceeds
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Encore Capital Group Announces Fourth Quarter and Full-Year 2015 Financial Results; International Growth and Domestic Execution Drive Solid Performance
February 24, 2016 4:05 PM ESTFourth quarter revenues increase 8% to a record $298 millionFourth quarter Non-GAAP Economic EPS increases 12% to $1.31Estimated Remaining Collections increase to record $5.7 billionEncore deploys $345 million worldwide in fourth quarterEncore reaches agreement to sell its tax lien subsidiary, Propel Financial Services
SAN DIEGO, Feb. 24, 2016 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company providing debt recovery solutions for consumers across a broad range of assets, today reported consolidated financial results for the fourth quarter and full year ended December... More
Encore Capital Group Enters Agreement to Sell Propel Financial Services to Prophet Capital Asset Management
February 24, 2016 4:05 PM EST- Encore Cites Expanded Opportunities to Invest Capital for Greater Returns- Transaction Expected to Establish Propels Enterprise Value at More Than $340 Million- Sale Expected to Generate More Than $150 Million of After-Tax Proceeds for Encore
SAN DIEGO, Feb. 24, 2016 (GLOBE NEWSWIRE) -- Encore Capital Group (NASDAQ: ECPG), an international specialty finance company, today announced that it entered into an agreement to sell its wholly owned subsidiary Propel Financial Services to Prophet Capital Asset Management, an Austin, Texas-based Registered Investment Adviser. The transaction, which would establish Propels... More
