Encore Capital Group(ECPG) - 2024 Q4 - Annual Results

Financial Performance - Total revenues for the year ended December 31, 2024, were $1,316,361, an increase of 7.7$1,222,680 in 2023[20] - The net loss for the year ended December 31, 2024, was $139,244, a decrease from a net loss of$206,492 in 2023, representing a 32.5% improvement[22] - Adjusted EBITDA for the year ended December 31, 2024, was $332,928, slightly down from$333,615 in 2023[23] - Operating expenses for the year ended December 31, 2024, totaled $1,159,031, a decrease of 3.9$1,206,145 in 2023[20] - The company reported a goodwill impairment charge of $100.6 million for the year ended December 31, 2024, compared to$238.2 million in 2023[25] - The company incurred interest expenses of $252,545 for the year ended December 31, 2024, compared to$201,877 in 2023, reflecting a 25.1% increase[23] - Net cash provided by operating activities for the year ended December 31, 2024, was $156,168, slightly up from$152,991 in 2023[22] Portfolio Purchases and Collections - Global portfolio purchases in 2024 increased by 26% to a record $1.35 billion[3] - U.S. portfolio purchases in 2024 reached$1 billion, a 23% increase[2] - Cabot portfolio purchases in 2024 increased by 36% to $200 million in Q4[2] - Q4 2024 portfolio purchases surged by 69$495.1 million[5] - Global collections in 2024 rose by 16% to $2.16 billion[3] - Q4 2024 collections were$554.6 million, a 21% increase year-over-year[5] - Collections applied to principal balance for the year ended December 31, 2024, were $1,004,230, up from$776,280 in 2023, indicating a 29.2% increase[23] - Estimated Remaining Collections (ERC) for 2024 were $8.5 billion, up 4$2.4 billion[2] Goodwill and Restructuring - A goodwill charge of $101 million was recorded in Q4 due to restructuring actions in the Cabot business[2]