Encore Cap Group Inc Stock Price, News & Analysis

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.

Encore Capital Group (NASDAQ: ECPG) has announced the preliminary results of its modified Dutch auction tender offer, which aimed to procure up to $300 million in shares. The offer, which ended on December 2, 2021, saw a total of 4,474,814 shares tendered at a price of $60.00 each, amounting to a total cost of approximately $268.5 million. This represents around 15% of the total outstanding shares as of October 28, 2021. The final results will be confirmed after a guaranteed delivery period, with purchases funded through cash and credit facilities.

Encore Capital Group has released its first Economic Freedom Study, surveying 2,600 adults across the U.S. and U.K. The findings indicate that while a majority of respondents feel positive about their personal financial futures (57% in the U.S. and 55% in the U.K.), there is significant pessimism regarding the broader economy. Notably, credit card debt remains a major source of stress. Both countries prioritize establishing an emergency fund, and over 60% of respondents express confidence in managing their debts. The study emphasizes the need for support in achieving economic freedom.

Encore Capital Group (NASDAQ: ECPG) has initiated a modified "Dutch auction" tender offer to repurchase up to $300 million of its common stock, at prices ranging from $52.00 to $60.00 per share. The tender offer will close on December 2, 2021. This offer aims to buy back shares using available cash or revolving credit. The company will determine the lowest price per share to fulfill the total consideration, with provisions for an additional 2% of outstanding shares if demand exceeds the initial amount. Shareholders should follow specific guidelines to participate.

Encore Capital Group reported strong Q3 2021 financial results, with collections of $567 million and GAAP EPS of $2.66, a 55% increase from Q3 2020. The company also returned capital through share repurchases totaling $41 million in Q3 and $88 million year-to-date. A $300 million tender offer for common shares is set to launch on November 4. Despite a 7% decline in estimated remaining collections, Encore's leverage ratio improved to 1.8x, below its target range, indicating a strong financial position with $700 million in liquidity.

Encore Capital Group (ECPG) will release its third-quarter 2021 financial results on November 3, 2021, after market close. The company will host a conference call at 2:00 p.m. PT (5:00 p.m. ET) featuring its CEO and CFO discussing the results. The public can access the webcast through Encore's Investor Relations page or listen by phone. A replay will be available for seven days post-call. Encore specializes in debt recovery solutions and operates globally, servicing portfolios from banks and utility providers.

Encore Capital Group (NASDAQ: ECPG) has amended its global senior secured revolving credit facility, reducing LIBOR and EURIBOR floors from 0.75% to 0.00% and extending the termination date to September 2025. This move showcases the strength of Encore's funding structure and reflects ongoing efforts to enhance its balance sheet. The company recently replaced legacy bonds from its European subsidiary, Cabot Credit Management, saving 325 basis points on interest expenses. These strategic financial adjustments aim to improve Encore's overall financial standing.

Encore Capital Group (ECPG) reported strong Q2 2021 results, with record collections of $612 million and GAAP net income of $97 million, translating to GAAP EPS of $3.07. The company reduced its leverage to 1.9x from 2.4x year-over-year. Portfolio purchases amounted to $143 million, down 4% compared to last year, due to lower market supply. Encore's operating expenses rose 23% to $253 million, impacting net income, which fell 26% year-over-year. The company continues to prioritize capital allocation, spending $27 million on share repurchases.