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Mar 31, 2023
EVERTEC Q1 2023 Earnings Report
Reported strong results driven by merchant acquiring and payment processing in Puerto Rico and Latin America, leading to raised annual guidance.
Key Takeaways
EVERTEC reported a 6% increase in revenue to $159.8 million for Q1 2023. GAAP Net Income attributable to common shareholders decreased by 23% to $30.1 million, while adjusted earnings per common share increased by 5% to $0.69. The company has raised its annual guidance for 2023.
Revenue increased 6% to $159.8 million.
GAAP Net Income attributable to common shareholders decreased 23% to $30.1 million and decreased 13% to $0.46 per diluted share
Adjusted EBITDA decreased 8% to $67.1 million and Adjusted earnings per common share increased 5% to $0.69
Share repurchases totaled $6.3 million
Revenue by Segment
Forward Guidance
The Company is revising its financial outlook for 2023 as follows:
Positive Outlook
- Total consolidated revenue is now anticipated to be between $644 million and $652 million representing growth of approximately 4.1% to 5.4% growth, compared with $638 to $647 million previously estimated.
- Adjusted earnings per common share between $2.59 to $2.68 representing approximately 2.4% to 6% growth as compared to $2.53 in 2022, as recast,, compared with $2.53 to $2.64 previously estimated.
- We continue to expect capital expenditures to be approximately $70 million.
- We continue to expect an effective tax rate of approximately 16% to 17%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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