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Encore Capital Group: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

SAN DIEGO (AP) _ Encore Capital Group Inc. (ECPG) on Monday reported a first-quarter loss of $10.5 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the San Diego-based company said it had a loss of 33 cents. Losses, adjusted for one-time gains and costs, were 19 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The provider of debt-management and recovery services posted revenue of $289.1 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $330.6 million.

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Encore Capital Group shares have dropped 19% since the beginning of the year. In the final minutes of trading on Monday, shares hit $28.72, a decline of 12% 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