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Sep 30, 2024
Encore Q3 2024 Earnings Report
Encore's third quarter performance was strong, driven by the MCM business and favorable purchasing conditions in the U.S.
Key Takeaways
Encore Capital Group reported a strong third quarter, with global portfolio purchases up 23% to $282 million and global collections up 18% to $550 million. The company raised its 2024 guidance, anticipating global portfolio purchasing to exceed $1,250 million and year-over-year collections growth of approximately 15% to over $2,125 million.
Highly favorable purchasing conditions continue in the U.S. market.
Global portfolio purchases increased by 23% to $282 million.
Global collections increased by 18% to $550 million.
GAAP EPS reached $1.26.
Encore
Encore
Forward Guidance
Encore anticipates global portfolio purchasing this year will exceed $1,250 million and expects year-over-year collections growth to be approximately 15% to over $2,125 million.