Encore Capital Group (ECPG) is a public company. Encore means more. We always go the extra mile for our consumers, our colleagues, our clients and our investors. It’s what sets us apart.

As an industry leader, and the only company to develop a Consumer Bill of Rights, we promote professional growth and healthy living for our employees, offering top-notch compensation and programs such as leadership and skills training, tuition assistance for continued education and wellness initiatives that have earned us recognition as one of San Diego’s Healthiest Employers.

We firmly believe in work-life balance, and we are committed to actively promoting healthy living and personal and professional satisfaction for our employees.

Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P SmallCap 600, and the Wilshire 4500. Founded in 1953. It has 3,245 employees. Annual revenue is $1.8B. IPO 2003.

Transcript

Operator

Good day. Thank you for standing by. Welcome to the Encore Capital Group Second Quarter 2026 Earnings Conference Call. In one moment, we will begin shortly, so sit tight. Again, welcome to the Encore Capital Group Second Quarter 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star one one on your telephone. You will hear an automated message advising your hand is raised. To withdraw your question, please press star one one again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Bruce Thomas, VP of Global Investor Relations for Encore. Bruce, please go ahead.

Bruce Thomas — VP of Global Investor Relations

Thank you, operator. Good afternoon. Welcome to Encore Capital Group's second quarter 2026 earnings call. Joining me on the call today are Ashish Masih, our President and Chief Executive Officer, Tomas Hernanz, Executive Vice President and Chief Financial Officer, Ryan Bell, President of Midland Credit Management, and John Yung, President of Cabot Credit Management. Ashish and Tomas will make prepared remarks today, and then we'll be happy to take your questions. Unless otherwise noted, comparisons on this conference call will