Encore Capital Group(ECPG) - 2023 Q1 - Earnings Call Transcript

Thanks Bruce, and good afternoon, everyone. Thank you for joining us. Encore performance in the first quarter reflected normalized consumer behavior in each of our key markets. As such collections have returned to prepandemic levels for our MCM business in the U.S. and have stabilized for a Cabot business in Europe. At the same time, as anticipated, portfolio supply growth in the U.S. is accelerating with lending and charge off rates steadily growing. Consequently, MCM portfolio purchases in the U.S. in the ...