Operator

Good day, and thank you for standing by. Welcome to the Encore Capital Group's First Quarter 2026 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 first speaker today, Bruce Thomas, Vice President of Global Investor Relations. Please go ahead.

Bruce Thomas
Vice President of Global Investor Relations

Thank you, operator. Good afternoon, and welcome to Encore Capital Group's First 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; and Ryan Bell, President of Midland Credit Management.

Ashish and Thomas 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 first quarter of 2026 and the first quarter of 2025.

In addition, today's discussion will include forward-looking statements that are based on current expectations and assumptions and are subject to risks and uncertainties.

Actual results could differ materially from our expectations. Please refer to our SEC filings for a detailed discussion of potential risks and uncertainties. We undertake no obligation to update any forward-looking statement.

During this call, we will use rounding and abbreviations for the sake of brevity. We will also be discussing non-GAAP financial measures.