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Dec 31, 2024
EVERTEC Q4 2024 Earnings Report
Evertec announced its fourth quarter and full year 2024 financial results, including the acquisition of Nubity and Grandata, and provided its 2025 outlook.
Key Takeaways
Evertec reported strong fourth quarter 2024 results with revenue increasing 11% to $216.4 million and Adjusted EBITDA increasing 24% to $88.6 million. Full year 2024 revenue grew 22% to $845.5 million, and the company completed the acquisitions of Nubity and Grandata.
Fourth quarter revenue increased 11% to $216.4 million, or approximately 14.5% on a constant currency basis.
Adjusted EBITDA for the fourth quarter increased 24% to $88.6 million.
GAAP Net Income attributable to common shareholders for the fourth quarter increased 249.0% to $40.1 million, or $0.62 per diluted share.
The company closed on the acquisition of 100% of Nubity, Inc. on November 19th.
Revenue by Segment
Forward Guidance
For 2025, Evertec anticipates total consolidated revenue between $889 million and $899 million, representing approximately 5.1% to 6.3% growth on a GAAP basis, or 5.5% to 6.7% on a constant currency basis. Adjusted earnings per common share are projected to be between $3.34 and $3.45.
Positive Outlook
- Anticipated total consolidated revenue growth of 5.1% to 6.3% on a GAAP basis for 2025.
- Projected adjusted earnings per common share growth of 1.8% to 5.2% for 2025.
- Constant currency revenue growth expected to be between 5.5% and 6.7%.
- Constant currency adjusted earnings per common share growth expected to be between 2.6% and 6.0%.
- Effective tax rate anticipated to be low, between 6% and 7%.
Challenges Ahead
- Capital expenditures are anticipated to be approximately $85 million, which is a significant outflow.
- The guidance is an outlook and subject to various risks and uncertainties.
- The company's reliance on its relationship with Popular, Inc. could impact its ability to grow.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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