Encore Capital Group, Inc. (NASDAQ:ECPG) Q2 2023 Earnings Conference Call August 2, 2023 5:00 PM ET

Company Participants

Bruce Thomas - VP, Global IR

Ashish Masih - President and CEO

Jonathan Clark - EVP and CFO

Ryan Bell - President, Midland Credit Management

Conference Call Participants

Mark Hughes - Trust Securities

John Rowan - Janney Montgomery Scott

Mike Grondahl - Northland Securities

Robert Dodd - Raymond James

Bob Napoli - William Blair

Mark Hughes - Truist

Operator

Good day and thank you for standing by. Welcome to Encore Capital Group's Q2 2023 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Bruce Thomas, Vice President of Global Investor Relations. Please go ahead.

Bruce Thomas

Thank you, operator. Good afternoon and welcome to Encore Capital Group's second quarter 2023 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; and Ryan Bell, President of Midland Credit Management. Ashish and Jon will make prepared remarks today and then we'll be happy to take your questions.

Unless otherwise noted comparisons on this conference call will be made between the second quarter of 2023 and the second quarter of 2022. In addition, today's discussion will include forward-looking statements subject to risks and uncertainties, actual future 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 use 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 us.

I'll begin today's call with a few Q2 highlights. Encore second quarter performance reflected normalized consumer behavior and a stable collections environment in each of our key markets. In the U.S., with lending and charge off rates continuing to steadily increase, the growth in portfolio supply and improvements in portfolio pricing also continue.