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encore CAPITAL GROUP Better Solutions . Better Life . Encore Capital Group Announces Second Quarter 2021 Financial Results Record collections of $ 612 million GAAP net income of $ 97 million GAAP EPS of $ 3.07 Leverage of 1.9x , down from 2.4x a year ago Share repurchases of $ 27M in Q2 2021 SAN DIEGO , August 4 , 2021 Encore Capital Group , Inc. ( NASDAQ : ECPG ) , an international specialty finance company , today reported consolidated financial results for the second quarter ended June 30 , 2021 . -- " Encore delivered another period of strong performance in the second quarter as we continued to execute our strategy , improve our balance sheet and focus on our capital allocation priorities , " said Ashish Masih , President and Chief Executive Officer . " The primary driver of our financial performance in the period was our record collections for both our MCM and Cabot businesses . We continue to see consumers focus on resolving their debts , which led to a high volume of inbound calls and online engagement . " " On a global basis , our portfolio purchases were $ 143 million in the quarter , which was lower than last year due to a lower level of supply coming to market . Although issuers continue to sell , volumes are lower because of fewer charge - offs . As these conditions persist , we have remained disciplined and continue to purchase at attractive returns . " " Our business continues to generate a significant amount of excess capital , driving a further reduction in our leverage ratio , which is now at the low end of our target range of 2 to 3 times . Consistent with our capital allocation priorities , we spent $ 27 million to repurchase Encore shares during the second quarter , " said Masih . In June , the company refinanced the remainder of its legacy Cabot bonds with £ 250 million of new senior secured notes with a 325 - basis point lower coupon while also extending the maturity from 2023 to 2028 . The company expects the interest savings from the new notes will pay back the call premium from the redemption of the previous notes by the end of 2021 .