Encore Capital Group Announces Strong First Quarter 2015

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On May 7th Encore Capital Group (ECPG), an international specialty finance company with operations in eight countries, reported its financial results for the first quarter of 2015.

First Quarter Highlights Top of Form

  • Gross collections from the portfolio purchasing and recovery business grew 7% to a record $425 million, compared to $397 million in the same period of the prior year.
  • Investments in receivable portfolios in the portfolio purchasing and recovery business was $125 million, to purchase $1.0 billion in face value of debt.
  • Encore’s subsidiary Propel Financial Services also purchased $54 million of tax liens during the first quarter of 2015, raising Encore’s total deployment in the quarter to $179 million.
  • Total revenues increased 13% to a record $286 million, compared to $254 million in the same period of the prior year.
  • Adjusted EBITDA increased 7% to $266 million, compared to $250 million in the same period of the prior year.
  • Net income was $29.4 million compared to net income of $23.2 million in the same period of the prior year.
  • Adjusted income attributable to Encore increased 13% to $32.4 million, compared to adjusted income of $28.8 million in the same period of the prior year.

“Encore delivered strong financial performance in the first quarter as our international expansion and consumer-focused programs drove record collections. With our foreign subsidiaries now assimilated into Encore, our businesses outside of the United States grew collections 29% over last year and now comprise more than a quarter of our total collections worldwide,” said Kenneth A. Vecchione, President and Chief Executive Officer.

Read the full release here

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