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Mar 31, 2024
EVERTEC Q1 2024 Earnings Report
Reported a revenue increase driven by the Sinqia acquisition and organic growth across all segments, while GAAP net income decreased due to increased interest and depreciation expenses.
Key Takeaways
EVERTEC's first quarter of 2024 saw a 28% increase in revenue to $205.3 million, driven by the Sinqia acquisition and organic growth. However, GAAP Net Income decreased by 47% to $16.0 million, primarily due to increased interest and depreciation expenses related to the acquisition.
Revenue increased 28% to $205.3 million.
GAAP Net Income attributable to common shareholders decreased 47% to $16.0 million.
Adjusted EBITDA increased 16% to $78.2 million.
Adjusted earnings per common share increased 4% to $0.72.
Revenue by Segment
Forward Guidance
The Company's financial outlook for 2024 is as follows: Total consolidated revenue between $846 million and $854 million approximately 22% to 23% growth. Adjusted earnings per common share between $2.85 to $2.94 approximately 1% to 4% growth as compared to $2.82 in 2023. Capital expenditures are anticipated to be approximately $80 million, including Sinqia. Effective tax rate of approximately 6% to 7%.
Positive Outlook
- Total consolidated revenue between $846 million and $854 million approximately 22% to 23% growth.
- Adjusted earnings per common share between $2.85 to $2.94 approximately 1% to 4% growth as compared to $2.82 in 2023.
- Capital expenditures are anticipated to be approximately $80 million, including Sinqia.
- Effective tax rate of approximately 6% to 7%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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