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Jun 30, 2024
Encore Q2 2024 Earnings Report
Encore's second quarter performance showed strong growth in portfolio purchasing, collections, and cash generation.
Key Takeaways
Encore Capital Group reported a strong second quarter with increased portfolio purchases, particularly in the U.S., and a 15% increase in global collections compared to the previous year. The company is raising its 2024 guidance due to its strong position in the U.S. market.
Highly favorable purchasing conditions continue in the U.S. market.
Global portfolio purchases reached $279 million, including a record $237 million in the U.S.
Global collections increased by 15% to $547 million compared to Q2 2023.
GAAP EPS was reported at $1.34.
Encore
Encore
Encore Revenue by Segment
Encore Revenue by Geographic Location
Revenue by Segment
Servicing Revenue
CapyFin.comOther revenues Revenue
CapyFin.comRevenue by Geographic Location
U.S. purchases Revenue
CapyFin.comEurope purchases Revenue
CapyFin.com Forward Guidance
Encore is raising its 2024 guidance provided in February. The company now anticipates global portfolio purchasing will exceed $1,150 million and year-over-year collections growth to be approximately 11% to over $2,075 million.
Positive Outlook
- Global portfolio purchasing this year will exceed $1,150 million.
- Year-over-year collections growth to be approximately 11%.
- Collections are expected to be over $2,075 million.
- Company maintains its commitment to the consumer credit ecosystem.
- Company is focused on helping consumers restore their financial health.
Revenue & Expenses
Visualization of income flow from segment revenue to net income