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Mar 31, 2020
Encore Q1 2020 Earnings Report
Reported a GAAP loss of $(0.33) per share and non-GAAP Economic loss of $(0.19) per share, which includes $2.77 per share negative impact of COVID-19-related collections forecast revisions. Achieved record global cash collections of $527 million, but global revenues of $289 million reflect a $109 million non-cash charge due to COVID-19-related collections forecast revisions.
Key Takeaways
Encore Capital Group reported a GAAP loss of $(0.33) per share and non-GAAP Economic loss of $(0.19) per share for Q1 2020. The results were significantly impacted by a $109 million non-cash charge due to COVID-19-related collections forecast revisions. However, the company achieved record global cash collections of $527 million.
GAAP net loss attributable to Encore was $10.5 million, or $(0.33) per fully diluted share.
Adjusted net loss attributable to Encore was $5.9 million, or $(0.19) per fully diluted share.
Record global cash collections of $527 million were achieved.
Total revenues were $289 million, which includes a $109 million non-cash charge related to COVID-19.
Estimated remaining collections (ERC) increased $633 million compared to the end of the prior year, to a record $8.5 billion.
Forward Guidance
Looking forward, Encore has a solid liquidity position and believes the strength of their balance sheet will enable them to capture opportunities in the U.S. and U.K. markets which are poised for substantial growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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