Encore Capital Group Earnings: Here’s Why the Stock is Up Now
Encore Capital Group, Inc. (NASDAQ:ECPG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.33%.
Encore Capital Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.66% to $0.85 in the quarter versus EPS of $0.82 in the year-earlier quarter.
Revenue: Rose 10.66% to $156.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Encore Capital Group, Inc. reported adjusted EPS income of $0.85 per share. By that measure, the company beat the mean analyst estimate of $0.81. It beat the average revenue estimate of $147.73 million.
Quoting Management: “For the quarter, we delivered strong financial results, while making strategic investments designed to build a global platform for continued growth,” said Ken Vecchione, Encore’s President and Chief Executive Officer. “We saw solid growth in collections and revenue and continued to reduce our cost to collect.”
Key Stats (on next page)…