Evertec Inc

EVTC

Equity

ISIN PR30040P1032 / Valor 20671378

New York Stock Exchange, Inc (2024-11-21)

USD 36.06+3.50%

Evertec Inc
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About company

Evertec Inc is a leading provider of issuer processing solutions and services in Brazil, as well as technological solutions for financial institutions in Brazil, Chile, and Peru. The company has a strong presence in the market and continues to expand its business through strategic acquisitions. With a focus on store management, suppliers, and payment administration, Evertec Inc is a key player in the financial technology industry in Latin America.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Evertec Inc's revenue for the second quarter of 2024 increased by 27% to $212.0 million, compared to $167.1 million in the same quarter of the previous year. This growth was driven by the contribution from the Sinqia acquisition and organic growth across all of the Company's segments.

Net Income

For the quarter ended June 30, 2024, Evertec Inc's GAAP Net Income attributable to common shareholders was $31.9 million, or $0.49 per diluted share. This represents an increase of $3.7 million or $0.06 per diluted share compared to the prior year, driven by increased revenues and a decrease in income tax expense.

Adjusted EBITDA

Evertec Inc reported an Adjusted EBITDA of $86.1 million for the second quarter of 2024, an increase of 16% compared to the prior year quarter. The Adjusted EBITDA margin was 40.6%, reflecting a decrease of approximately 400 basis points due to the addition of Sinqia, which contributes at a lower margin.

Adjusted Net Income

Adjusted Net Income for Evertec Inc in the second quarter of 2024 was $53.8 million, an increase of $7.2 million compared to $46.6 million in the prior year. Adjusted earnings per common share were $0.83, up from $0.71 in the previous year, driven by higher Adjusted EBITDA and a decrease in non-GAAP tax expense.

Share Repurchase

On July 9, 2024, Evertec Inc completed its previously announced accelerated share repurchase transaction. The company received an additional 467,362 shares, in addition to the 1,516,793 shares received in March, and all of the shares received as part of the ASR were retired.

Summarized from source with an LLMView Source

Key figures

-0.17%1Y

-16.9%3Y

13.1%5Y

Performance

28.6%1Y

28.4%3Y

33.2%5Y

Volatility