Core Insights - Encore Capital Group reported strong financial performance in Q3 2025, with significant increases in portfolio purchases and collections, leading to a substantial rise in earnings per share [2][5][4]. Financial Performance - Portfolio purchases reached $346 million, a 23% increase compared to Q3 2024, with U.S. purchases at $261 million, up 13% year-over-year [2][4]. - Record collections amounted to $663 million, reflecting a 20% increase from the previous year, with U.S. collections at $502 million, up 25% [2][4]. - Earnings per share for Q3 2025 were $3.17, a remarkable 152% increase from $1.26 in Q3 2024 [2][4]. Business Segments - The U.S. MCM business showed strong results, with portfolio purchases of $261 million and record collections of $502 million [2]. - The Cabot business in Europe reported portfolio purchases of $85 million and collections of $160 million, an 8% increase compared to the same quarter last year [2]. Guidance and Future Outlook - The company raised its global collections guidance for the full year 2025 to approximately $2.55 billion, indicating an 18% year-over-year growth [2]. - Portfolio purchasing guidance remains unchanged, with expectations to exceed $1.35 billion in purchases made in 2024 [2]. Share Repurchase Program - The company repurchased $10 million of its common stock in Q3 and nearly $25 million in Q4 to date, totaling approximately $60 million year-to-date [3]. - The board authorized an additional $300 million to its existing share repurchase program [3].

Core Points - Vijay Mallya has discontinued an application to annul a UK bankruptcy order, allowing the "Trustee in Bankruptcy" to continue asset recovery efforts for a consortium of banks led by the State Bank of India, related to a judgment debt of approximately £1.05 billion owed by his defunct Kingfisher Airlines [7][2][5] - The High Court upheld the bankruptcy order, confirming that the order remains in effect, and the trustee can investigate and realize assets without hindrance from Mallya's annulment application [2][5][6] - Mallya's separate annulment application was based on claims that the banks' debt had already been recovered in India, but this application has not progressed due to a lack of movement on an Indian writ petition [5][6][7] Legal Proceedings - The case dates back to 2017 when banks registered a judgment from the Indian Debt Recovery Tribunal in English courts, which involved a personal guarantee from Mallya for loans to Kingfisher Airlines [6][7] - A worldwide freezing order was granted to the banks in May 2018, leading to a series of hearings that culminated in a bankruptcy order against Mallya on July 26, 2021 [6][7] - Mallya remains on bail in the UK while a confidential legal matter, believed to be related to an asylum application, is being resolved [7]