Encore Cap Group Inc Stock Price, News & Analysis

Encore Capital Group (Nasdaq: ECPG) has announced plans to offer £250 million in senior secured notes due 2028 to qualified institutional buyers. The offering, subject to market conditions, aims to secure funding that will allow the company to redeem £226.2 million of existing 7.500% senior secured notes due 2023. This issuance will be fully guaranteed by its material subsidiaries and secured by the company's assets. The notes will not be registered under the Securities Act and are intended for private offering only.

Encore Capital Group (ECPG) reported strong Q1 2021 results with record collections of $606 million, up 15%, and a GAAP net income of $95 million, or $2.97 EPS. The company reduced its leverage ratio to 2.1x from 2.6x year-over-year. Portfolio purchases declined 21% to $170 million due to market conditions. Strong cash generation allowed for a $20 million share repurchase, part of a $300 million multi-year authorization. The company targets attractive capital deployment and anticipates continued strong returns.

Encore Capital Group (ECPG) is set to announce its first quarter 2021 financial results on May 5, 2021, after market closure. A conference call will be hosted the same day at 2:00 PM Pacific to discuss the results, featuring CEO Ashish Masih and CFO Jonathan Clark. The public can access the live webcast on Encore's Investor Relations page, with a replay available for those unable to join. Encore Capital, headquartered in San Diego, specializes in debt recovery solutions and services for various financial assets.

Encore Capital Group (Nasdaq:ECPG) announced its participation in the virtual Raymond James 42nd Annual Institutional Investors Conference on March 3, 2021. Key executives, including CEO Ashish Masih, will engage with investors, with Masih presenting at 3:50 PM Eastern Time. A live webcast of the presentation will be accessible, along with the presentation materials, on the company’s website. Encore specializes in debt recovery solutions, aiding consumers with financial recovery through its unique Consumer Bill of Rights.

Encore Capital Group (ECPG) announced participation in the virtual Credit Suisse 22nd Annual Financial Services Forum on February 26, 2021. Key executives, including CEO Ashish Masih and CFO Jonathan Clark, will meet with investors, with Masih presenting at 11:20 am ET. A live webcast and presentation details will be available on the company’s website. As a specialty finance firm, Encore focuses on debt recovery solutions and operates under a unique Consumer Bill of Rights, serving consumers globally.

Encore Capital Group, Inc. (ECPG) reported record collections, revenues, and earnings for 2020. The company achieved a GAAP net income of $212 million, up 26%, and a GAAP EPS of $6.68, up 25%. Collections reached $2.1 billion, a 4% increase, while total revenues grew by 7% to $1.5 billion. A new global funding structure is yielding lower costs. Leverage ratio decreased to 2.4x from 2.7x. However, Q4 2020 earnings showed a decline in both GAAP net income and EPS due to refinancing expenses, highlighting potential challenges ahead.

Encore Capital Group (ECPG) will announce its Q4 and full year 2020 financial results on February 24, 2021, after market close. A conference call with executives will follow at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. Investors can listen to the live webcast on the company's website or join via telephone. Encore Capital provides debt recovery solutions and operates through subsidiaries globally, purchasing or servicing financial asset portfolios from banks and other entities.

Encore Capital Group (ECPG) successfully completed an upsized offering of €415 million in senior secured floating rate notes due 2028, enhancing its funding structure. The new notes have a reduced coupon of three-month EURIBOR plus 4.250%, replacing the previous €400 million notes due 2024, which had a higher coupon of 6.375%. This refinancing is part of a broader strategy that has resulted in the refinancing of approximately $840 million of debt, positioning the company for improved capital deployment opportunities.

Encore Capital Group (Nasdaq: ECPG) announced the pricing of €415 million in senior secured floating rate notes due 2028, up from an initial €275 million offering. The notes will accrue interest at a rate tied to the three-month EURIBOR plus 4.250%. Proceeds will be used to redeem €400 million of existing notes due 2024 and cover related transaction costs. The company anticipates approximately $11 million in after-tax charges in Q4 2020. The offering remains unregistered in the U.S., thus not available to the general public.