Thu, Aug 1, 9:07 PM (88 days ago)
Evertec, Inc. reported a strong quarterly performance for the period ending June 30, 2024, with revenues rising 27% year-over-year to $212 million. This growth was driven by the acquisition of Sinqia and organic growth across all segments. Operating income increased by 25% to $43.4 million, while Adjusted EBITDA rose 16% to $86.1 million. Key segments, including Payment Services, Latin America Payments and Solutions, Merchant Acquiring, and Business Solutions, all saw revenue and EBITDA growth. However, interest expenses surged due to increased debt from the Sinqia acquisition. Despite this, net income attributable to common stockholders was $31.9 million, up from $28.2 million in the prior year. The company also completed a $70 million accelerated share repurchase program. Future uncertainties include economic conditions, regulatory changes, and market risks such as interest rate fluctuations and foreign exchange volatility.