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Mar 31, 2021
Encore Q1 2021 Earnings Report
Encore delivered strong operational and financial performance.
Key Takeaways
Encore Capital Group reported a strong first quarter with increased revenues and net income. The company saw a significant rise in collections, driven by growth in both the U.S. and Europe. Portfolio purchases remained substantial, and the company continued to reduce its leverage ratio.
Collections increased 15% to $606 million compared to Q1 2020.
Revenues grew 44% to $417 million year-over-year.
GAAP Net Income was $95 million, a significant increase from the previous year.
The leverage ratio decreased to 2.1x, reflecting strong cash generation.