Encore Capital Group: 3Q Earnings Snapshot
SAN DIEGO (AP) _ Encore Capital Group Inc. (ECPG) on Wednesday reported third-quarter earnings of $38.9 million.
On a per-share basis, the San Diego-based company said it had profit of $1.23. Earnings, adjusted for non-recurring costs, came to $1.64 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.
The provider of debt-management and recovery services posted revenue of $355.9 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $350.8 million.
Encore Capital Group shares have risen 44% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $33.74, a climb of 25% in the last 12 months.