November 23, 2017 5:53 AM ET

Consumer Finance

Company Overview of Encore Capital Group, Inc.

Company Overview

Encore Capital Group, Inc., a specialty finance company, together with its subsidiaries, provides debt recovery solutions for consumers across a range of financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery. It is also involved in the debt management of portfolios consisting of higher balance and semi-performing accounts; and the management of non-performing loans. In addition, the company provides portfolio management services to banks for non-performing loans; and financial solutions to individuals...

3111 Camino Del Rio North

Suite 103

San Diego, CA 92108

United States

Founded in 1998

7,085 Employees

Phone:

877-445-4581

Key Executives for Encore Capital Group, Inc.

President, CEO & Director
Age: 51
Total Annual Compensation: $375.4K
Chief Financial Officer and Executive Vice President
Age: 58
Total Annual Compensation: $508.3K
President of International
Age: 56
Total Annual Compensation: $563.8K
Executive VP, General Counsel & Chief Administrator Officer
Age: 50
Total Annual Compensation: $320.8K
Compensation as of Fiscal Year 2016.

Encore Capital Group, Inc. Key Developments

Encore Capital Group Announces Executive Changes

Encore Capital Group announced that Willem Mesdag has resigned from its Board of Directors effective November 1, 2017. Mr. Mesdag had served on the Board since May 2007 and as the Company's non-executive Chairman since February 2014. With the announcement of Mr. Mesdag's departure, the Board unanimously elected Michael Monaco, a current independent director, as Chairman. Mr. Monaco currently serves as a Senior Advisor at FTI Consulting, Inc.

Encore Capital Group, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017

Encore Capital Group, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported total revenues of $306,699,000 compared to $179,415,000 a year ago. Income from operations was $103,870,000 compared to loss of $21,182,000 a year ago. Income before income taxes was $59,988,000 compared to loss of $65,714,000 a year ago. Net income attributable to the company’s stockholders was $28,194,000 or $1.05 per diluted share compared to loss of $1,524,000 or $0.06 per basic and diluted share a year ago. Adjusted income attributable to the company was $30,692,000 or $1.15 per diluted share compared to $3,613,000 or $0.14 per diluted share a year ago. For the nine months period, the company reported net income of $76,199,000 compared to $5,494,000 a year ago. Net cash provided by operating activities was $81,691,000 compared to $85,268,000 a year ago. Purchases of property and equipment were $20,518,000 compared to $16,548,000 a year ago.

Encore Capital Group, Inc. and J.C. Flowers & Co. LLC Looking To Sale Stake In Cabot Credit Management Group Ltd.

Encore Capital Group, Inc. (NasdaqGS:ECPG) and J.C. Flowers & Co. LLC is looking to sell a portion of their holdings in Cabot Credit Management Group Ltd. when it gets listed on London Stock Exchange

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