Encore Cap Group Inc Stock Price, News & Analysis

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.

Encore Capital Group (ECPG) will announce its financial results for Q1 2022 on May 4, 2022, after market close. A conference call will follow at 2:00 p.m. Pacific / 5:00 p.m. Eastern, featuring CEO Ashish Masih and CFO Jonathan Clark discussing the results.

The public can access the live webcast on Encore’s Investor Relations page or by phone. A replay will be available for seven days. Encore Capital Group specializes in debt recovery solutions, acquiring and servicing receivables from various financial institutions globally.

Encore Capital Group (NASDAQ: ECPG) announced an amendment to its global senior secured revolving credit facility, increasing its size by $90 million to $1.14 billion and extending the termination date to September 2026. The CFO noted that this change reflects the strength of their balance sheet and the reduction of capital costs, along with the retirement of $311 million in convertible notes. Additionally, 23% of common shares were repurchased in 2021 for $390 million, enhancing liquidity for future opportunities.

Encore Capital Group (Nasdaq:ECPG) has announced that key executives, including CEO Ashish Masih and CFO Jonathan Clark, will meet with investors at the Raymond James 43rd Annual Institutional Investors Conference on March 8, 2022. Masih will present at 1:40 PM Eastern Time. A live webcast and presentation materials will be available on the company's investor page. Encore Capital Group specializes in debt recovery solutions, assisting consumers with financial recovery while adhering to its unique Consumer Bill of Rights, enhancing consumer commitments.

Encore Capital Group, Inc. (NASDAQ: ECPG) reported record collections, earnings, and returns for 2021, achieving a GAAP net income of $351 million, up 66% from 2020, and a GAAP EPS of $11.26, up 69%. The company's collections rose 9% to $2.31 billion, while revenues increased 8% to $1.61 billion. Portfolio purchases held steady at $664 million. Share buybacks reached $390 million, representing 23% of outstanding shares. Looking ahead, Encore aims to leverage its strong balance sheet and capital allocation strategy to capitalize on emerging opportunities.

Encore Capital Group (ECPG) will announce its financial results for Q4 and full year 2021 on February 23, 2022, post market closure. A conference call featuring CEO Ashish Masih and CFO Jonathan Clark will occur at 2:00 p.m. Pacific time. Investors can access the live webcast on Encore's Investor Relations page. For those unable to attend, a replay will be available for one week following the call. Encore specializes in debt recovery solutions, acquiring debt portfolios from banks and credit unions, and is a component of several indices including the Russell 2000.

Encore Capital Group (NASDAQ: ECPG) announced the completion of its modified Dutch auction tender offer, which aimed to purchase up to $300 million worth of its common stock. The tender offer expired on December 2, 2021, with 4,471,995 shares validly tendered at or below $60.00 per share. Encore accepted all tendered shares at this price, costing approximately $268.3 million. This represents about 15% of the company’s total outstanding shares. Following this, Encore highlighted its strong financial position and plans for future opportunities, maintaining low leverage and liquidity.