Encore Cap Group Inc Stock Price, News & Analysis

Encore Capital Group (Nasdaq:ECPG) will release its third-quarter 2022 financial results on November 2, 2022, after the market closes.

The company will also hold a conference call at 2:00 p.m. Pacific / 5:00 p.m. Eastern, featuring executives Ashish Masih and Jonathan Clark. A live webcast will be accessible on the Investor Relations page of Encore's website, along with a replay for those unable to attend the live session.

Encore Capital Group (ECPG) has announced that seven of its locations have been certified as a Great Place to Work®. This certification reflects direct feedback from employees through an in-depth survey about workplace experiences. The certified locations include Cabot Financial in U.K., Ireland, Spain, France, Portugal, and Midland Credit Management in Costa Rica and India. The CEO Ashish Masih expressed excitement over the certifications, emphasizing the company's commitment to a thriving work environment. Additionally, the company focuses on professional growth and unique employee recognition.

Encore Capital Group (NASDAQ: ECPG) announced the appointment of William C. Goings to its Board of Directors, effective September 1, 2022. Goings, with extensive experience in the financial services sector, including banking and insurance, will serve on the Compensation and Nominating Committees. Previously, he held executive roles at TD Bank Group and Genworth Financial. His expertise in corporate banking and strategic planning is expected to enhance Encore's leadership. Chairman Michael P. Monaco and President Ashish Masih expressed confidence in Goings' ability to contribute positively to the company.

Encore Capital Group (NASDAQ: ECPG) announced the reappointment of its President and CEO, Ashish Masih, to the U.S.-India CEO Forum by U.S. Commerce Secretary Gina M. Raimondo. This forum aims to strengthen economic ties between the U.S. and India. Masih, who has been part of the forum since 2019, emphasizes the importance of collaboration between the two nations. Encore has operated in India since 2005, focusing on debt recovery and consumer-centric solutions through its subsidiary, the Encore Asset Reconstruction Company. The company also promotes cultural diversity among its employees.

Encore Capital Group, Inc. (NASDAQ: ECPG) reported strong Q2 2022 financial results, with a GAAP net income of $60 million and GAAP EPS of $2.29. Global collections reached $498 million, while portfolio purchases increased by 21% year-over-year to $173 million. Despite a 19% drop in collections and a 37% decrease in net income compared to the same quarter last year, the company remains strategically positioned for future opportunities in portfolio purchasing. The Estimated Remaining Collections (ERC) fell 7% to $7.56 billion.

Encore Capital Group, a leading specialty finance company, announced its financial results for Q2 2022 will be released on August 3, 2022. A conference call will follow at 2:00 p.m. Pacific time. The call will feature key executives discussing the results, available for public access via the company website. Encore Capital focuses on debt recovery solutions and manages portfolios of receivables globally. As a NASDAQ-listed company, it is part of the Russell 2000 and S&P Small Cap 600 indices.

Encore Capital Group (NASDAQ: ECPG) announced that CEO Ashish Masih has been recognized as CEO of the Year by the San Diego Business Journal for large public companies. His leadership has driven significant business performance, with 2021 revenues increasing 8% to $1.6 billion and net income growing 66%. Masih, who has been with Encore for 13 years, has emphasized a collaborative company culture and has launched initiatives related to Environmental, Social, and Governance (ESG) as well as consumer satisfaction studies.

Encore Capital Group (NASDAQ: ECPG) has announced the promotion of Andrew Asch to Senior Vice President, General Counsel, effective August 15, 2022. Asch has been with the company since 2010 and previously served as Senior Vice President, General Counsel of Midland Credit Management. He replaces Greg Call, who is retiring after 12 years at Encore and will assist with the transition until September 1, 2022. Asch's extensive experience is expected to support Encore's mission to help consumers restore financial health.

Encore Capital Group (NASDAQ: ECPG) reported a GAAP net income of $176 million, marking an 86% increase compared to Q1 2021. The company's earnings per share reached $6.40, up 115% from the previous year. Driven by better-than-expected collections of $519 million, the company raised its future collection expectations, contributing an additional $167 million to revenue. Despite a 14% decline in collections year-over-year, revenues still rose 20% to $499.7 million. Encore also repurchased $26 million in shares, reflecting strong cash flows and a low leverage ratio of 1.9x.