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Mar 31, 2022
Intermex Q1 2022 Earnings Report
Strong double-digit growth was reported across all of the Company’s key operating performance measures.
Key Takeaways
Intermex reported strong double-digit growth across all key operating performance measures in Q1 2022, driven by its competitive advantage in the Latin American money transfer market. Revenues increased by 21.2%, net income grew by 29.8%, and digital transactions more than doubled.
Revenues increased 21.2% to $114.7 million.
Net Income increased 29.8% to $11.7 million.
Diluted EPS increased 30.4% to $0.30 per share.
Digital transactions increased 104.6%.
Intermex
Intermex
Forward Guidance
The Company is reiterating full-year revenue guidance of $537 million to $546 million, an increase of 17% to 19% over 2021 full-year results. Full-year 2022 Net Income, Adjusted Net Income, and Adjusted EBITDA guidance has been adjusted as follows: ■ Net Income, $59 million to $60.5 million, an increase of 26% to 29%. ■ Adjusted Net Income, $67 million to $68.5 million, an increase of 17% to 19%. ■ Adjusted EBITDA, $101.5 million to $104 million, an increase of 17% to 20%.
Positive Outlook
- Revenue guidance of $537 million to $546 million is reiterated, representing a 17% to 19% increase over 2021.
- Net Income is expected to be $59 million to $60.5 million, an increase of 26% to 29%.
- Adjusted Net Income is expected to be $67 million to $68.5 million, an increase of 17% to 19%.
- Adjusted EBITDA is expected to be $101.5 million to $104 million, an increase of 17% to 20%.
- Better than anticipated operating efficiencies are being achieved.