ENCORE CAPITAL GROUP, INC. ECPG Income Statement

Encore capital group, inc. (ECPG)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Revenues
Revenue from receivable portfolios
357,365	329,418	316,217	312,495	311,158	298,104	295,357	292,662	281,009	276,104	264,024	263,407	249,838	333,712	159,534	267,452	270,094	265,739	265,523	270,301	264,110	255,248	251,785	248,231	237,568	226,776	225,387	152,024	140,683	139,594	140,682	138,731	126,405	116,452	115,843	111,093	105,326	93,822	91,845
Changes in expected current and future recoveries
98,661	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Servicing revenue
28,680	28,984	31,204	32,316	34,023	35,235	37,388	39,453	35,968	28,324	23,111	18,681	19,971	21,849	19,881	21,990	18,923	18,107	13,391	12,361	13,672	11,654	13,445	14,149	11,349	6,115	5,792	380	301	-	426	183	-	-	-	-	-	-	-
Other revenues
1,697	-	-	-	529	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income - tax lien business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,982	-	-	-	-	-	-	-
Interest expense - tax lien business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	650	-	-	-	-	-	-	-
Net interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,052	6,815	4,824	4,208	4,379	3,717	3,602	-	4,110	2,332	-	-	-	-	-	-	-
Servicing fees and other related revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,977	4,145	4,386
Total revenues
289,081	367,847	347,421	344,811	345,710	338,720	332,745	332,115	316,977	306,770	287,135	282,088	269,809	355,561	179,415	289,442	289,017	283,846	278,914	282,662	277,782	247,211	273,282	269,195	253,741	237,099	235,558	156,121	144,586	143,908	145,218	141,246	126,405	111,507	115,843	111,093	110,303	97,967	96,231
Allowance reversals on receivable portfolios, net
0	-20,053	8,515	2,063	1,367	10,001	4,029	17,632	9,811	28,369	19,564	-8,829	2,132	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total revenues, adjusted by net allowances
289,081	347,794	355,936	346,874	347,077	348,721	336,774	349,747	326,788	317,481	306,699	290,917	271,941	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating expenses
Salaries and employee benefits
93,098	91,666	96,638	96,227	91,834	93,211	95,634	90,960	89,259	94,446	77,232	75,786	68,278	68,173	67,783	75,499	69,642	68,165	62,995	65,569	65,552	55,275	61,175	64,355	58,137	50,986	52,253	32,969	28,832	28,193	25,397	25,190	22,304	21,549	20,087	17,129	19,040	16,166	16,484
Stock-based compensation expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,810	1,765	1,549	1,446
Cost of legal collections
66,279	53,224	48,971	51,448	49,027	49,621	50,473	51,255	53,855	50,598	48,094	53,409	47,957	42,808	56,932	46,807	54,308	59,013	58,760	57,076	54,998	52,065	53,742	50,029	49,825	49,265	50,953	44,483	42,258	45,500	43,544	41,024	38,635	39,686	40,169	40,686	36,509	33,851	31,235
Other operating expenses
27,164	23,520	25,753	29,546	29,614	31,456	30,691	39,039	33,748	28,689	25,859	24,030	26,360	25,317	24,131	24,946	26,343	24,932	22,217	21,735	24,326	17,738	22,061	23,712	26,423	20,531	19,056	13,797	13,265	10,085	14,829	12,427	11,598	7,458	9,904	8,250	10,096	9,512	9,027
Collection agency commissions
13,176	16,960	17,343	13,560	16,002	13,361	10,682	12,151	11,754	10,025	10,622	11,494	11,562	7,899	8,848	9,274	10,120	9,326	9,381	8,466	10,685	8,068	9,517	7,482	8,276	10,380	14,158	5,230	3,329	2,980	4,227	4,166	3,959	3,388	3,264	3,596	3,914	5,389	6,413
General and administrative expenses
31,877	37,921	38,168	32,620	39,547	35,189	41,893	41,986	39,284	55,330	32,500	36,932	33,318	31,002	34,871	32,934	35,239	35,733	86,789	37,638	31,197	29,469	35,532	38,282	36,694	32,284	33,486	27,601	16,342	15,467	14,091	18,582	13,658	9,798	10,704	9,089	10,169	6,982	7,425
Depreciation and amortization
10,285	11,293	10,000	9,741	9,995	9,996	9,873	10,923	10,436	14,158	8,522	8,672	8,625	8,740	8,032	8,235	9,861	9,102	8,043	7,878	8,137	7,222	6,933	6,829	6,117	5,020	4,523	2,158	1,846	1,647	1,533	1,420	1,240	1,016	1,054	958	1,053	816	752
Goodwill impairment
-	-	10,718	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
241,879	234,584	247,591	233,142	236,019	232,834	239,246	246,314	238,336	253,246	202,829	210,323	196,100	183,939	200,597	197,695	205,513	206,271	248,185	198,362	194,895	169,837	188,960	190,689	185,472	168,466	174,429	126,238	105,872	103,872	103,621	102,809	91,394	79,320	85,182	81,518	82,546	74,265	72,782
Income from operations
47,202	113,210	108,345	113,732	111,058	115,887	97,528	103,433	88,452	64,235	103,870	80,594	75,841	87,445	-21,182	91,747	83,504	84,338	30,729	84,300	82,887	77,374	84,322	78,506	68,269	68,633	61,129	29,883	38,714	40,036	41,597	38,437	35,011	32,187	30,661	29,575	27,757	23,702	23,449
Other (expense) income
Interest expense
54,662	53,515	54,365	63,913	54,967	56,956	65,094	60,536	57,462	51,692	52,755	50,516	49,198	48,447	48,632	50,597	50,691	50,187	47,816	46,250	42,303	42,264	43,498	43,218	37,962	29,747	29,186	7,482	6,854	6,540	7,012	6,497	5,515	4,979	5,175	5,369	5,593	4,928	4,880
Other income (expense)
1,439	-2,577	-11,546	-1,244	-2,976	-3,803	-2,539	-4,615	2,193	-1,157	8,873	2,529	602	-130	4,100	3,134	7,124	647	-924	395	2,117	305	-532	75	265	40	-299	-4,122	159	32	610	-106	272	-204	-342	35	116	148	-90
Total other expense
-53,223	-56,092	-65,911	-65,157	-57,943	-60,759	-67,633	-65,151	-55,269	-52,849	-43,882	-47,987	-48,596	-48,577	-44,532	-47,463	-43,567	-49,540	-48,740	-45,855	-40,186	-41,959	-44,030	-43,143	-37,697	-29,707	-29,485	-11,604	-6,695	-6,508	-6,402	-6,603	-5,243	-5,183	-5,517	-5,334	-5,477	-4,780	-4,970
(Loss) income before income taxes
-6,000	57,133	42,434	48,575	53,100	55,128	29,895	38,282	33,183	11,386	59,988	32,607	27,245	38,868	-65,714	44,284	39,937	34,798	-18,011	38,445	42,701	35,415	40,292	35,363	30,572	38,926	31,644	18,279	32,019	33,528	35,195	31,834	29,768	27,004	25,144	24,241	22,280	18,922	18,479
Provision for income taxes
4,600	13,833	3,000	11,800	3,700	9,052	16,900	11,300	9,500	8,607	17,844	13,531	12,067	28,374	-13,768	13,451	10,148	3,988	-6,361	14,921	14,614	12,663	10,154	14,010	11,742	15,278	10,272	7,267	12,571	13,361	13,887	12,846	11,660	10,166	9,834	9,475	8,601	6,632	6,749
Income from continuing operations
-	-	-	-	-	-	-	-	-	2,779	42,144	19,076	15,178	10,494	-51,946	30,833	29,789	30,810	-11,650	23,524	28,087	-	-	-	-	-	21,372	-	-	20,167	21,308	18,988	18,108	-	15,310	14,766	-	-	-
Loss from discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	0	0	0	-199	829	0	0	-3,182	-29,214	2,286	1,661	1,880	-	-	-	-	-	-308	-	-	0	0	-2,392	-6,702	-	60	9	-	-	-
Net (loss) income
-10,579	43,232	39,413	36,822	49,442	46,033	13,016	26,974	23,713	2,779	42,144	19,076	14,979	11,323	-51,946	30,833	26,607	1,596	-9,364	25,185	29,967	27,957	30,138	21,353	18,830	22,216	21,064	11,012	19,448	-	21,308	-	-	-	-	-	-	-	-
Net loss (income) attributable to noncontrolling interest
-125	147	544	161	188	-1,003	-7,709	676	1,886	-9,902	13,950	-1,179	-7,119	-11,489	-50,422	1,245	913	2,584	1,595	-2,472	542	1,307	-197	-2,208	-4,350	-737	-822	0	0	-	-	-	-	-	-	-	-	-	-
Net (loss) income attributable to Encore Capital Group, Inc. stockholders
-10,454	43,085	38,869	36,661	49,254	47,036	20,725	26,298	21,827	12,681	28,194	20,255	22,098	22,812	-1,524	29,588	25,694	-988	-10,959	27,657	29,425	26,650	30,335	23,561	23,180	22,953	21,886	11,012	19,448	20,167	21,308	16,596	11,406	17,134	15,370	14,775	13,679	12,290	11,730
Amounts attributable to Encore Capital Group, Inc.:
Income from continuing operations
-	-	-	-	-	-	-	-	-	12,681	28,194	20,255	22,297	21,983	-1,524	29,588	28,876	28,226	-13,245	25,996	27,545	-	-	-	-	-	22,194	-	-	-	21,308	-	-	-	-	-	-	-	-
Loss from discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	0	0	0	-199	829	0	0	-3,182	-29,214	2,286	1,661	1,880	-	-	-	-	-	-308	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to Encore Capital Group, Inc. stockholders
-10,454	43,085	38,869	36,661	49,254	47,036	20,725	26,298	21,827	12,681	28,194	20,255	22,098	22,812	-1,524	29,588	25,694	-988	-10,959	27,657	29,425	26,650	30,335	23,561	23,180	22,953	21,886	11,012	19,448	20,167	21,308	16,596	11,406	17,134	15,370	14,775	13,679	12,290	11,730
(Loss) earnings per share attributable to Encore Capital Group, Inc.:
Basic earnings (loss) per share from:
Continuing operations (USD per share)
-	-	-	-	-	-	-	-	-	0.49	1.08	0.78	0.86	0.85	-0.06	1.15	1.13	1.12	-0.52	1.00	1.06	-	-	-	-	-	0.87	-	-	0.82	0.85	0.76	0.73	-	0.62	0.60	-	-	-
Discontinued operations (USD per share)
-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	-0.01	0.03	0.00	0.00	-0.12	-1.14	0.09	0.07	0.07	-	-	-	-	-	-0.01	-	-	0.00	0.00	-0.09	-0.27	-	0.00	0.00	-	-	-
Basic (USD per share)
-0.33	1.39	1.24	1.17	1.58	1.55	0.69	1.01	0.84	0.49	1.08	0.78	0.85	0.88	-0.06	1.15	1.01	-0.02	-0.43	1.07	1.13	1.03	1.17	0.91	0.90	0.90	0.86	0.46	0.83	0.82	0.85	0.67	0.46	0.70	0.62	0.60	0.56	0.51	0.49
Diluted earnings (loss) per share from:
Continuing operations (USD per share)
-	-	-	-	-	-	-	-	-	0.49	1.05	0.77	0.85	0.85	-0.06	1.14	1.12	1.11	-0.52	0.97	1.01	-	-	-	-	-	0.82	-	-	0.78	0.82	0.74	0.70	-	0.60	0.58	-	-	-
Discontinued operations (USD per share)
-	-	-	-	-	-	-	-	-	-0.01	0.00	0.00	0.00	0.04	0.00	0.00	-0.13	-1.10	0.09	0.06	0.07	-	-	-	-	-	-0.01	-	-	0.00	0.01	-0.10	-0.26	-	0.00	0.00	-	-	-
Diluted (USD per share)
-0.33	1.36	1.23	1.17	1.57	1.54	0.69	1.00	0.83	0.48	1.05	0.77	0.85	0.89	-0.06	1.14	0.99	0.01	-0.43	1.03	1.08	0.98	1.11	0.86	0.82	0.82	0.81	0.44	0.80	0.79	0.82	0.64	0.44	0.65	0.60	0.58	0.54	0.49	0.47
Weighted average shares outstanding:
Basic (shares)
31,308	31,076	31,338	31,225	31,201	31,179	29,867	26,150	26,056	26,018	26,011	25,983	25,876	25,783	25,777	25,742	25,550	25,481	25,450	25,885	26,072	25,986	25,879	25,798	25,749	25,689	25,535	23,966	23,446	24,651	25,071	24,919	24,779	24,957	24,638	24,433	24,260	23,947	23,713
Diluted (shares)
31,308	31,454	31,657	31,426	31,359	31,342	30,121	26,409	26,416	26,406	26,736	26,391	26,087	26,117	25,777	25,874	25,868	26,904	25,450	26,919	27,315	26,960	27,332	27,492	28,196	28,364	27,183	24,855	24,414	25,732	26,047	25,825	25,740	26,095	25,604	25,610	25,451	25,154	24,958
Unrealized loss on derivative instruments, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,790	682	-	-2,042	-888	836	-	-
Income tax (provision) benefit related to unrealized gain (loss) on derivative instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-796	-351	329	-	-
Other comprehensive loss, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,790	682	-	-1,246	-537	507	-	-
Comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,806	12,088	-	14,124	14,238	14,186	-	-