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:
以下是安可資本集團有限公司（ECPG）2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
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報告稱，第一季度美國的投資部署創歷史新高，投資組合購買額爲2.96億美元，比去年同期增長7％。
第一季度的收款總額爲5.11億美元，比2023年第一季度增長了10％。
該集團第一季度的GAAP淨收入和每股收益（EPS）與去年同期相比分別增長了25％和27％。
與2023年第一季度相比，現金產生量增長了14％。
第一季度末，Encore的槓桿率爲2.8倍，較2023年底的2.9倍略有下降。
Business Progress:
業務進展：
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.
第一季度標誌着美國投資組合的強勁購買力，由於有利的購買條件，美國市場的投資組合達到創紀錄的2.37億美元。
儘管歐洲市場競爭激烈，資本成本持續上漲，但由於回報率更高，該公司主要將其資本分配給美國市場。
由於回報不那麼吸引人，英國和歐洲正在實行選擇性。
該公司在第一季度成功發行了5億美元的2029年優先擔保票據，標誌着其進入美國高收益債券市場。
該公司計劃使用本次發行的資金在2024年11月贖回其2026英鎊的優先擔保票據。
他們重申了2024年的指導方針，預計他們的投資組合購買量將超過2023年的總購買量，並預計藏品將增長約8％，達到20億美元以上。
該公司在過去的12個月中實現了52％的效率率，該季度的支出保持不變，收款有所增加。
管理層預計，由於收款增加，效率比率將提高，運營槓桿率將提高，並計劃在2024年繼續增加採購。
More details: Encore Capital Group IR
更多詳情： 安可資本集團投資者關係
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：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。