AP NEWS

Encore Capital Group: 3Q Earnings Snapshot

November 8, 2018

SAN DIEGO (AP) _ Encore Capital Group Inc. (ECPG) on Wednesday reported third-quarter profit of $20.7 million.

The San Diego-based company said it had net income of 69 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.19 per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of $1.19 per share.

The provider of debt-management and recovery services posted revenue of $336.8 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $341.6 million.

Encore Capital Group shares have declined 38 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.22, a fall of 45 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ECPG at https://www.zacks.com/ap/ECPG

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