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Dec 31, 2022
EVERTEC Q4 2022 Earnings Report
Evertec's Q4 2022 financial performance showed a revenue increase of 4% but decreases in GAAP net income, Adjusted EBITDA, and Adjusted earnings per share. The company completed the refinancing of credit facilities and continued to focus on capital deployment for long-term growth.
Key Takeaways
EVERTEC's Q4 2022 results showed revenue growth but a decline in profitability. Revenue increased by 4% to $161.8 million, driven by growth in Merchant Acquiring and Payment Services segments in Puerto Rico, as well as growth in Latin America. However, GAAP Net Income decreased to $28.7 million, and Adjusted EBITDA decreased by 10% to $68.4 million.
Revenue increased 4% to $161.8 million.
GAAP Net Income attributable to common shareholders was $28.7 million, or $0.44 per diluted share.
Adjusted EBITDA decreased 10% to $68.4 million.
Adjusted earnings per common share was $0.65, a 10% decrease.
Forward Guidance
The Company's financial outlook for 2023 is as follows: Total consolidated revenue between $638 million and $647 million approximately 3.2% to 4.6% growth. Adjusted earnings per common share between $2.53 to $2.64 representing approximately 4.5% to 9.1% growth as compared to $2.42 in 2022. Capital expenditures are anticipated to be approximately $70 million. Effective tax rate of approximately 16% to 17%.
Positive Outlook
- Total consolidated revenue between $638 million and $647 million approximately 3.2% to 4.6% growth.
- Adjusted earnings per common share between $2.53 to $2.64 representing approximately 4.5% to 9.1% growth as compared to $2.42 in 2022.
- Capital expenditures are anticipated to be approximately $70 million.
- Effective tax rate of approximately 16% to 17%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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