Encore Capital Group, Inc. (NASDAQ:ECPG) Q1 2020 Earnings Conference Call - Final Transcript

May 11, 2020 • 05:00 pm ET


Encore Capital Group, Inc. (NASDAQ:ECPG) Q1 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Encore Capital Group's Q1 2020 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Bruce Thomas, Vice President of Investor Relations for Encore. Sir, you may begin.

Bruce Thomas

Thank you, operator. Good afternoon, and welcome to Encore Capital Group's First Quarter 2020 Earnings Call. Joining me on the call today are Ashish Masih, our President and Chief Executive Officer; Jonathan Clark, Executive Vice President and Chief Financial Officer; Ryan Bell, President of Midland Credit Management based in San Diego; and Craig Buick, CEO of Cabot Credit Management based in London. Ashish and Jon will make prepared remarks today, and then we'll be happy to take your questions.

We ask for your patience as consistent with social distancing best practices, each of us from the company will be speaking from a different location. We'll do our best to mitigate any impact this may have on the execution of the call.

Unless otherwise noted, comparisons made on the conference call will be between the first quarter of 2020 and the first quarter of 2019.

In addition, today's discussion will include forward-looking statements subject to risks and uncertainties. Actual results could differ materially from these forward-looking statements. Please refer to our SEC filings for a detailed discussion of potential risks and uncertainties.

During this call, we will be using rounding and abbreviations for the sake of brevity. We will also be discussing non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are included in our earnings presentation, which was filed on Form 8-K earlier today. As a reminder, this conference call will also be made available for replay on the Investors section of our website, where we will also post our prepared remarks following the conclusion of this call.

With that, let me turn the call over to Ashish Masih, our President and Chief Executive Officer.

Ashish Masih

Thanks, Bruce, and good afternoon, everyone. Thank you for joining our earnings call.

We are living in an unprecedented time due to the COVID-19 pandemic. It is impacting the health of our loved ones, the businesses we rely upon, the state of the global economy and the way we live our daily lives. For those who are on the call, I hope that you and your families are safe, healthy and finding ways to stay connected under the current circumstances.

Before we begin, I want to recognize those impacted directly by the coronavirus and their families and friends as well as the selfless heroes, the health care workers, first responders and law enforcement officers, who are tirelessly working with immense courage to help us all through this crisis. I would also like to thank our 7,000-plus employees around the world, who have stepped up to the challenges of these unprecedented times. At Encore, we have been helping people recover from financial difficulty and turned