Overview
Evertec Q2 revenue up 8% to $229.6 mln, beating analysts' expectations
Adjusted EPS for Q2 rises 7% to $0.89, exceeding estimates, per LSEG data
Co increases share repurchase authorization to $150 mln, extends program
Outlook
Evertec raises full-year revenue outlook to $901 mln-$909 mln
Company expects adjusted EPS between $3.44 and $3.52
Evertec anticipates capital expenditures of approximately $85 mln
Company maintains adjusted effective tax rate of 6% to 7%
Result Drivers
ORGANIC GROWTH - Revenue growth driven by organic growth across all segments and contributions from acquisitions
PRICING INITIATIVES - Merchant acquiring revenue benefited from improved spread due to prior year pricing initiatives
ATH MOVIL - Payments Puerto Rico revenue increased from ATH Movil and transaction growth
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$229.60 mln
$222.30 mln (5 Analysts)
Q2 Adjusted EPS
Beat
$0.89
$0.86 (6 Analysts)
Q2 Adjusted Net Income
Beat
$57.70 mln
$55.80 mln (4 Analysts)
Q2 Net Income
$40.50 mln
Q2 Adjusted EBITDA
Beat
$92.60 mln
$90.40 mln (5 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the business support services peer group is "buy"
Wall Street's median 12-month price target for Evertec Inc is $39.00, about 14.3% above its July 29 closing price of $33.44
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nBw3jDtQ1a
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)