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Mar 31, 2023
Intermex Q1 2023 Earnings Report
Intermex experienced revenue and customer growth in Q1 2023.
Key Takeaways
Intermex reported a strong first quarter in 2023, marked by a 26.8% increase in revenue to $145.4 million and a 0.9% increase in net income to $11.8 million. The company's growth was driven by the inclusion of La Nacional and solid core growth, resulting in a 37.4% increase in unique active customers and a 28.6% increase in money transfer transactions.
Revenue increased by 26.8% to $145.4 million.
Net income increased by 0.9% to $11.8 million.
Diluted EPS increased by 3.3% to $0.31 per share.
Adjusted EBITDA increased by 16.4% to $24.1 million.
Intermex
Intermex
Forward Guidance
The Company is reiterating its previously issued full-year guidance and providing second-quarter guidance:
Positive Outlook
- Full-year 2023 Revenue of $667.0 million to $688.5 million, an increase of 22% to 26%.
- Full-year 2023 Net Income of $66.5 million to $69.0 million, an increase of 16% to 20%.
- Full-year 2023 Adjusted EBITDA of $120.0 million to $124.5 million, an increase of 14% to 18%.
- Second-quarter 2023 Revenue of $168.6 million to $174.1 million, an increase of 23% to 27%.
- Second-quarter 2023 Net Income of $16.8 million to $17.1 million, an increase of 5% to 7%.
Challenges Ahead
- Second-quarter 2023 Adjusted EBITDA of $30.7 million to $31.4 million, an increase of 11% to 14%.