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Sep 30, 2022
EVERTEC Q3 2022 Earnings Report
Third quarter 2022 results reported with revenue relatively flat and net income significantly impacted by the Popular Transaction gain.
Key Takeaways
EVERTEC reported relatively flat revenue at $145.8 million for the third quarter of 2022. GAAP Net Income attributable to common shareholders was $137.8 million, or $2.06 per diluted share, including a $135.6 million gain from the Popular Transaction. Adjusted EBITDA decreased 25% to $52.4 million, and adjusted earnings per common share decreased 35% to $0.40.
Closed Popular Transaction with expected impacts on revenue and margins.
Revenue remained relatively flat at $145.8 million.
GAAP Net Income attributable to common shareholders was $137.8 million or $2.06 per diluted share.
Adjusted earnings per common share was $0.40, a decrease of 35%; excluding the impact from FX remeasurement Adjusted earnings per common share would have been $0.53, a decrease of 15%
Revenue by Segment
Forward Guidance
The Company's financial outlook for 2022 is as follows: Total consolidated revenue continues to be anticipated between $607 million and $615 million. Adjusted earnings per common share is now expected to be between $2.36 to $2.47 representing a decline of 14% to 10% as compared to $2.74 in 2021. Capital expenditures continue to be expected at approximately $60 million. Effective tax rate is now anticipated between 17% and 18%, compared to 14% to 15% previously estimated.
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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