record in our balance primary the the collections of MCM our important Bruce, good improve from The highlights as better was you driver both businesses. To in some Cabot Thanks, second to delivered our understand performance the financial performance priorities. our afternoon, for results, let's for allocation with Thank strategy, quarter begin joining and everyone. capital focus Encore our quarter. QX we and and strong our earnings on another call. execute sheet continued our
high to see calls of inbound volume online a which resolving continue to engagement. debts, consumers and We led their on focus
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into quarter. with to is the close to focus, the the where recently third portfolios risk-adjusted markets, in we market strategy, to an returns. concentrate our Consistent entered of pillar can sale highest in The our sell achieve Colombia Peru. strategy, and on first leads The expected agreement our us efforts we this
market Our dynamics. in valuable by in U.S. environment largest delivered two another and of an quarter most the characterized MCM is meaningful In record collections QX,
First, our cost-efficient resolve channel out through call continue to to reach center to us digital consumers debts. and their
pandemic through collections channel a collection to increased XX% U.S. not grew due in courts QX the as million Second, to mix. tempered legal as shift and during do expect $XX have reopened. the this of in deployed legal legal services impacts MCM our be activity We the supply long-term
to continue at deploy We returns. capital attractive
the week, industry the will XXXX. on XX, by last announced CFPB As November rules become effective
process, in this our finally uncertainty to field see industry. the multiyear which resolve will the and playing pleased leveled completion are We participants of for
using addition, will allow and methods new consumers us communications rules the engage to prefer. consumers modernize In with
new We confirmed by have to the implement fully effective the prepared rules date.
business to our U.K. and in Europe. Turning the
the Our exceeded Collections effects X%. impactful. most quarters second its the first of XXXX half portfolios were grew in COVID-related expectations collections pandemic performance year-end of to Cabot return continues when quarter period by levels the for after a XXXX compared at normal our Collections several volatility. to QX year, of for the last owned XX%
as collections maintained as of XXXX has purchases become competitive which quarter second market. in across drove discipline to has all and our now exceeded coming Despite supply in and to the channel pricing European return-focused to last the Europe the to of and for quarter higher. Cabot's back our increased fact in QX that footprint constrained million purchasing. last delinquencies more have we on our Portfolio the the cost compared XXXX. sellers portfolio quarter million of low, U.K. are and total investments the remain of year, collect half higher of Second already QX $XXX legal second increased compared were $XX Deployments first XX% in year,
pillar The advantages. strategy competitive second our enhancing of focuses our on
generate cash Our competitive platform enables us to consistently flow. significant
months business, the steady ending the our our efficiency portfolios. June in in Our our cash generation resilience of XX%, operations the increased for improvement XX the reflecting and of
reduced and our contributed generation consistent the to deleveraging sheet. balance has our borrowings Our growth of cash in
capital flexibility our include consider purchases us Our disciplined attractive which portfolio strong M&A repurchases. with allocation we share strategic when also returns, and at priorities, and additional cash generation provides
ability emphasize returns. as both measure it performance as it's us We We can that the through operation competitive well our to cycle. deliver Our the account important important to risk appropriately advantages collections because our delivers ROIC capital. allow as maintain into of we our business underlying believe long-term demonstrate takes investing that price business our our also differentiated an when to of strong returns credit
our ROIC during improvements markets. financial volatility a Our uncertainty time by and performance solid in are was our that global the indicators second and business the in characterized in over of performance quarter period
returns or around our companies to in find industry. attractive at other We continue to believe it is difficult such
successful strategy We of our our The believe our of a sheet critical a third strong sheet pillar strengthening balance to makes being constant is that sector. in priority. balance
Our strengthening enabled now our near in of leverage two which X.X times targeted leverage industry. ratio has to driven performance three operating our deployment low reduce on times to in of reduce turn balance continued strong to the is reduction. cash have a capital and debt-to-equity lowest is to at has higher us and focus times and ratio focused times, A flow, X.X which a end led of the sheet the to range levels
have financing over completed our QX, the our funds. of refinancing over significantly lowered have in year, we established believe future I'd opportunities. accomplishments capital we call of result to for capitalize And at a now us the hand cost look to structure on detailed results. we As last including we a will that best-in-class the to our a like allow financial Jon more
