Earnings Call Summary | Encore Capital Group(ECPG.US) Q1 2024 Earnings Conference
Earnings Call Summary | Encore Capital Group(ECPG.US) Q1 2024 Earnings Conference
The following is a summary of the Encore Capital Group, Inc. (ECPG) Q1 2024 Earnings Call Transcript:
以下是安可资本集团有限公司（ECPG）2024年第一季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Encore Capital Group reported record U.S. deployments in Q1, with portfolio purchases amounting to $296 million, a 7% increase from the same period last year.
Q1 collections totaled $511 million, a 10% increase from Q1 2023.
The Group's GAAP net income and earnings per share (EPS) in Q1 rose by 25% and 27% respectively compared to the same period the previous year.
Cash generation was up 14% compared to Q1 2023.
Encore's leverage at the end of Q1 was 2.8x, a slight reduction from 2.9x at the end of 2023.
Encore Capital Group报告称，第一季度美国的投资部署创历史新高，投资组合购买额为2.96亿美元，比去年同期增长7％。
第一季度的收款总额为5.11亿美元，比2023年第一季度增长了10％。
该集团第一季度的GAAP净收入和每股收益（EPS）与去年同期相比分别增长了25％和27％。
与2023年第一季度相比，现金产生量增长了14％。
第一季度末，Encore的杠杆率为2.8倍，较2023年底的2.9倍略有下降。
Business Progress:
业务进展：
Q1 marked strong US portfolio purchasing, with a record deployment of $237 million in the US market due to favorable purchasing conditions.
Despite the competitive European market with inconsistent higher cost of capital, the company primarily allocated its capital to the US market because of higher returns.
Selectivity is being practiced in UK and Europe due to less attractive returns.
The company successfully issued $500 million of 2029 senior secured notes in Q1, marking its entry in the U.S. high yield bond market.
The company plans to use the funds from this offering to redeem its 2026 sterling senior secured notes in November 2024.
They reiterated their 2024 guidance, projecting that their portfolio purchasing will exceed the 2023 total, and expecting collections to grow approximately 8% to over $2 billion.
The company achieved an efficiency ratio of 52% on a trailing 12-month basis, with flat expenses and increased collections in the quarter.
Management anticipates improved efficiency ratios and growing operating leverage due to increasing collections and plans to continue bolstering purchasing in 2024.
第一季度标志着美国投资组合的强劲购买力，由于有利的购买条件，美国市场的投资组合达到创纪录的2.37亿美元。
尽管欧洲市场竞争激烈，资本成本持续上涨，但由于回报率更高，该公司主要将其资本分配给美国市场。
由于回报不那么吸引人，英国和欧洲正在实行选择性。
该公司在第一季度成功发行了5亿美元的2029年优先担保票据，标志着其进入美国高收益债券市场。
该公司计划使用本次发行的资金在2024年11月赎回其2026英镑的优先担保票据。
他们重申了2024年的指导方针，预计他们的投资组合购买量将超过2023年的总购买量，并预计藏品将增长约8％，达到20亿美元以上。
该公司在过去的12个月中实现了52％的效率率，该季度的支出保持不变，收款有所增加。
管理层预计，由于收款增加，效率比率将提高，运营杠杆率将提高，并计划在2024年继续增加采购。
More details: Encore Capital Group IR
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Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多详情，请访问投资者关系网站。本文仅供投资者参考，不构成任何投资建议。
译文内容由第三方软件翻译。