Encore Capital Group: 2Q Earnings Snapshot
SAN DIEGO (AP) _ Encore Capital Group Inc. (ECPG) on Wednesday reported second-quarter earnings of $36.7 million.
The San Diego-based company said it had profit of $1.17 per share. Earnings, adjusted for one-time gains and costs, came to $1.28 per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of $1.28 per share.
The provider of debt-management and recovery services posted revenue of $346.9 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $356.8 million.
Encore Capital Group shares have increased 45% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $34.04, a fall of nearly 5% in the last 12 months.