Mon, Mar 3, 11:14 AM (54 days ago)
**Summary of EVERTEC, Inc. (EVTC) 2024 Annual Report** For the fiscal year ended December 31, 2024, EVERTEC, Inc. reported revenues of $845.5 million, a 22% increase from $694.7 million in 2023, primarily driven by acquisitions (Sinqia, Grandata, and Nubity) and organic growth across all segments. Net income was $114.8 million, with diluted earnings per share at $1.73. Operating expenses rose to $679.8 million, reflecting increased personnel costs and acquisition-related expenses. The company maintains a strong market position, with 31% of revenue derived from its significant client, Popular, Inc. Strategically, EVERTEC is focused on expanding its footprint in Latin America, capitalizing on the shift towards digital payments. However, it faces risks including reliance on key clients, regulatory challenges, and cybersecurity threats. The company’s financial condition remains robust, supported by $273.6 million in cash and a $200 million revolving credit facility. Looking ahead, EVERTEC aims to leverage its diversified business model and technological investments to drive growth while navigating potential economic fluctuations and competitive pressures. The company also plans to continue its stock repurchase program, with $138 million remaining for future use.