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Jun 30, 2024
EVERTEC Q2 2024 Earnings Report
Second quarter results were reported, with revenue increasing and net income attributable to common shareholders also increasing.
Key Takeaways
EVERTEC reported strong second quarter results with a 27% increase in revenue to $212.0 million and a 13% increase in GAAP Net Income attributable to common shareholders to $31.9 million, driven by the Sinqia acquisition and organic growth across all segments.
Revenue increased 27% to $212.0 million.
GAAP Net Income attributable to common shareholders increased 13% to $31.9 million and increased 14% to $0.49 per diluted share.
Adjusted EBITDA increased 16% to $86.1 million and Adjusted earnings per common share increased 17% to $0.83.
Completed the outstanding accelerated share repurchase on July 9, 2024.
Revenue by Segment
Forward Guidance
The Company's financial outlook for 2024 is as follows:
Positive Outlook
- Total consolidated revenue between $846 million and $854 million approximately 22% to 23% growth.
- Adjusted earnings per common share between $2.98 to $3.07 approximately 6% to 9% growth as compared to $2.82 in 2023.
- Capital expenditures are now anticipated to be approximately $85 million, including Sinqia.
- Effective tax rate of approximately 5% compared to a 6% to 7% in 2023.
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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