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Dec 31, 2023
EVERTEC Q4 2023 Earnings Report
Evertec reported a strong Q4 2023 with revenue increasing 20% and the Sinqia acquisition closed.
Key Takeaways
EVERTEC, Inc. reported a strong fourth quarter, with revenue increasing by 20% to $194.6 million. GAAP Net Income attributable to common shareholders was $11.5 million, or $0.17 per diluted share, a 61% decrease. The company closed the Sinqia acquisition and intends to enter into an accelerated share repurchase agreement for $70 million.
Revenue increased 20% to $194.6 million.
GAAP Net Income attributable to common shareholders was $11.5 million, or $0.17 per diluted share, a 61% decrease.
Adjusted earnings per common share was $0.62, or a 6% decrease.
Closed the Sinqia acquisition on November 1.
Revenue by Segment
Forward Guidance
The Company's financial outlook for 2024 is as follows: Total consolidated revenue between $844 million and $854 million approximately 21.5% to 22.9% growth. Adjusted earnings per common share between $2.82 to $2.94 flat to approximately 4.3% growth as compared to $2.82 in 2023. Capital expenditures are anticipated to be approximately $80 million, including Sinqia. Effective tax rate of approximately 7% to 8%.
Positive Outlook
- Total consolidated revenue between $844 million and $854 million approximately 21.5% to 22.9% growth.
- Adjusted earnings per common share between $2.82 to $2.94 flat to approximately 4.3% growth as compared to $2.82 in 2023.
- Capital expenditures are anticipated to be approximately $80 million, including Sinqia.
- Effective tax rate of approximately 7% to 8%.
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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