Encore Capital Group (ECPG) Misses Q4 EPS by 4c; Will Seel Propel Financial Services, Sees $150M in Post-Tax Proceeds
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Go back to Encore Capital Group (ECPG) Misses Q4 EPS by 4c; Will Seel Propel Financial Services, Sees $150M in Post-Tax Proceeds
February 24, 2016 4:05 PM EST
Fourth 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
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
