Encore Capital Group (NASDAQ:ECPG) shares plunged 5.1% in pre-market trading on Friday, following the company's disappointing full-year 2024 results that missed expectations on both the top and bottom lines.

The consumer finance company reported revenue of $1.32 billion for 2024, up 7.7% year-over-year, but below analyst estimates by 7.5%. Net loss narrowed by 33% to $139.2 million, but earnings per share of $5.83 loss also missed expectations.

Encore Capital's revenue miss was driven by lower-than-expected performance in its core portfolio purchasing and recovery segment, which contributed the entire $1.32 billion in revenue for the year. On the expense side, higher general and administrative costs weighed on profitability, accounting for 60% of total operating expenses.