Encore Capital Q3 Earnings Miss Estimates on Lower Purchases by Cabot

Encore Capital Group, Inc. (ECPG) shares have lost 1.9% since it reported third-quarter 2024 results on Nov. 6, 2024. The quarterly earnings suffered from reduced portfolio purchases in the U.K. by Cabot and rising operating expenses. Improved purchasing in the United States and an optimistic outlook for this business in the future partially offset the negatives. ECPG reported third-quarter 2024 adjusted earnings per share (EPS) of $1.26, which missed the Zacks Consensus Estimate by 14.3%. However, the bott ...