Welcome to our dedicated page for Encore Cap Group news (Ticker: ECPG), a resource for investors and traders seeking the latest updates and insights on Encore Cap Group stock.
Encore Capital Group Inc (ECPG) is a global leader in consumer debt recovery and receivables management, providing essential financial rehabilitation services through strategic portfolio acquisitions. This news hub offers investors and stakeholders timely updates on corporate developments, regulatory changes, and market positioning.
Access authoritative coverage of earnings reports, strategic partnerships, and operational milestones. Our curated collection features press releases about portfolio purchases, recovery process innovations, and compliance initiatives that shape ECPG's role in specialty finance.
Key updates include debt portfolio acquisitions, financial performance disclosures, leadership changes, and consumer engagement strategies. Track the company's progress in implementing ethical recovery practices across international markets through verified corporate communications.
Bookmark this page for streamlined access to ECPG's latest financial narratives. Regular updates ensure you maintain informed perspectives on the company's market position within the evolving consumer credit landscape.
Encore Capital Group (NASDAQ: ECPG) reported strong Q2 2024 financial results, with global portfolio purchases of $279 million, including a record $237 million in the U.S. Global collections increased by 15% to $547 million compared to Q2 2023. The company achieved GAAP EPS of $1.34, up 24% year-over-year. Encore is raising its 2024 guidance, expecting global portfolio purchases to exceed $1,150 million and year-over-year collections growth of approximately 11% to over $2,075 million. The U.S. market for charged-off receivable portfolios continues to grow, driven by credit card lending growth and rising charge-off rates.
Encore Capital Group (NASDAQ: ECPG) has announced a significant leadership transition. Jonathan C. Clark, Executive Vice President and Chief Financial Officer, will retire at the end of March 2025 after serving the company since 2014. Tomas Hernanz, currently CFO of Cabot Credit Management (an Encore subsidiary), will succeed Clark as CFO in April 2025.
Hernanz, who joined Encore in 2016, brings extensive experience in financial management and has been instrumental in implementing Encore's global funding structure and asset-backed financing facilities. He has previously held senior roles at Goldman Sachs and Citigroup. The company's CEO, Ashish Masih, expressed confidence in Hernanz's ability to drive Encore's disciplined strategy and financial excellence.
Intellicheck (Nasdaq: IDN), a leading identity validation company, has announced the appointment of Adam Sragovicz as a senior financial executive. Sragovicz will transition to the role of CFO on September 1, 2024, following the departure of Jeff Ishmael. He brings extensive experience in financial leadership, having served in senior-level positions at companies like Presidio Property Trust and Encore Capital Group.
Intellicheck's CEO, Bryan Lewis, and Board Chairman, Guy L. Smith, expressed confidence in Sragovicz's ability to support the company's strategic initiatives and drive growth. Sragovicz's responsibilities will include managing all aspects of finance and accounting, with a focus on advancing Intellicheck's market expansion and long-term growth strategies.
Encore Capital Group (Nasdaq: ECPG), an international specialty finance company, has announced it will release its second quarter 2024 financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call and slide presentation at 2:00 p.m. Pacific / 5:00 p.m. Eastern time on the same day.
Key executives, including Ashish Masih (President and CEO), Jonathan Clark (EVP and CFO), and Bruce Thomas (VP of Global Investor Relations), will present and discuss the results. The public can access the live webcast on Encore's Investor Relations page at www.encorecapital.com. For telephone access, pre-registration is required. A replay of the webcast will be available on the company's website shortly after the call concludes.
Encore Capital Group (Nasdaq: ECPG) announced the pricing of an upsized $500 million offering of 8.500% senior secured notes due 2030. This offering increased by $100 million from the originally planned $400 million. The notes are being offered at an issue price of 100% and are secured by substantially all assets of the company and its material subsidiaries. Interest on these notes is payable semi-annually starting November 15, 2024, with maturity on May 15, 2030. The proceeds from this offering will be used to repay drawings under the Global Senior Facility, cover transaction fees, and for general corporate purposes. Additionally, Encore plans to use borrowings to redeem €350 million senior secured notes due 2025 by October 15, 2024. The notes are being offered to qualified institutional buyers and non-U.S. persons, and they will not be registered under the Securities Act.
Encore Capital Group, Inc. announced a proposed senior secured notes offering of $400.0 million due 2030. The notes will be senior secured obligations of the Company, guaranteed by its subsidiaries. The Company intends to use the proceeds for various purposes including repaying existing debts and general corporate needs.
Encore Capital Group, Inc. (NASDAQ: ECPG) reported strong first quarter 2024 financial results with a portfolio purchase of $296 million, global collections of $511 million, and a GAAP EPS of $0.95. The company remains optimistic about 2024 performance, particularly in the U.S. market, despite competitive conditions in Europe. Encore is on track to exceed 2023 portfolio purchases and grow collections by 8% to over $2 billion.
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