Euronet Worldwide Reports Second Quarter 2026 Financial Results
Rhea-AI Summary
Euronet Worldwide (Nasdaq: EEFT) reported second quarter 2026 revenues of $1,108.4 million, up 3% year over year (2% on a constant currency basis). Operating income declined 14% to $137.1 million, while adjusted EBITDA decreased 6% to $192.8 million. GAAP diluted EPS was $1.71 versus $2.27, but adjusted EPS rose 10% to $2.82.
Digital accelerators revenue increased 31% year over year and represented 26% of quarterly revenue. Payments Infrastructure revenue grew 11% with adjusted EBITDA up 7%; epay revenue increased 5% with similar profit growth. Cross-Border Payments revenue declined 4%, with adjusted EBITDA down 31%, affected by U.S. remittance market contraction and non-recurring prior-year benefits. Euronet repurchased $50 million of stock (~705,000 shares), ended the quarter with $2.22 billion in total cash and $2.65 billion in debt, and reiterated its 2026 adjusted EPS growth outlook of 10%–15%.
Positive
- Adjusted EPS up 10% year over year to $2.82
- Digital accelerators revenue up 31% YoY, 26% of Q2 revenue
- Payments Infrastructure revenue +11%, adjusted EBITDA +7% in Q2 2026
- epay revenue +5%, adjusted EBITDA +5% in Q2 2026
- Digital Cross-Border Payments transactions +33% to 7.9 million
- Share repurchases of $50 million (~705,000 shares) in the quarter
- 2026 adjusted EPS growth outlook reiterated at 10%–15% year over year
Negative
- Consolidated operating income down 14% to $137.1 million
- Adjusted EBITDA down 6% to $192.8 million
- GAAP diluted EPS declined to $1.71 from $2.27
- Cross-Border Payments revenue -4%, adjusted EBITDA -31%, operating income -34%
- epay transactions down 11% to 986 million, mainly lower India volumes
- Net debt increased by $125.3 million during the quarter
- Corporate expense rose to $25.1 million from $22.7 million
News Explained
Euronet refinanced about $700 million of maturing notes with revolver borrowings, while indebtedness stood at $2,654.0 million on June 30.
Euronet’s second-quarter results release reports that the company completed repayment of approximately
The mechanics replace maturing senior-note funding with revolving-facility borrowings; reported total indebtedness was
The release separately reports approximately
Market Reaction – EEFT
Following this news, EEFT has declined 10.05%, reflecting a significant negative market reaction. Our momentum scanner has triggered 14 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $75.26.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 29 | Q1 earnings | Positive | -0.5% | Revenue and adjusted EPS increased, but the 24-hour reaction was -0.52%. |
| Feb 12 | Q4 earnings | Negative | -3.3% | Annual growth and acquisitions accompanied by operating pressure and a -3.26% reaction. |
| Oct 22 | Q3 earnings | Positive | -5.9% | Adjusted EPS and EBITDA growth coincided with a -5.87% 24-hour reaction. |
| Jul 30 | Q2 earnings | Positive | -1.9% | Operating income and digital transactions grew, while the 24-hour reaction was -1.85%. |
| Apr 23 | Q1 earnings | Positive | +1.5% | Growth across all segments accompanied a positive 1.49% 24-hour reaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Euronet's earnings announcements were usually followed by negative 24-hour price reactions despite generally positive operating updates.
Key Terms
adjusted ebitda financial
constant currency financial
non-gaap measures financial
senior notes financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Highlights reflecting key achievements supporting the Company’s strategy and digital goals:
- Revenue from the digital accelerators introduced at the Company’s Investor Day(1) increased
31% year over year and represented26% of second quarter revenues, demonstrating the strong momentum of these strategic initiatives. - Signed CoreCard agreement with Unibanca, a leading bank processor in Peru.
- Entered a direct-to-publisher distribution agreement with Capcom, a Tier-1 game publisher in Japan.
- Signed six new Dandelion digital partners, including Mastercard Move.
- Repurchased
$50 million of common stock, representing approximately 705,000 shares, during the quarter, reflecting our disciplined approach to capital allocation. - Adjusted earnings per share increased
10% year-over-year to$2.82 , highlighting the Company’s ability to deliver profitable growth while continuing to invest in long-term strategic initiatives.
(1) See the investor day presentation at http://ir.euronetworldwide.com.
LEAWOOD, Kan., July 30, 2026 (GLOBE NEWSWIRE) -- Euronet (“Euronet” or the “Company”) (Nasdaq: EEFT), a global leader in payments processing and cross-border transactions, announced today second quarter 2026 financial results.
Euronet reports the following consolidated results for the second quarter 2026 compared with the same period of 2025:
- Revenues of
$1,108.4 million , a3% increase from$1,074.3 million (2% increase on a constant currency1 basis). - Operating income of
$137.1 million , a14% decrease from$158.6 million (14% decrease on a constant currency basis). - Adjusted EBITDA2 of
$192.8 million , a6% decrease from$206.2 million (7% decrease on a constant currency basis). - Net income attributable to Euronet of
$77.4 million , or$1.71 diluted earnings per share, compared with$97.6 million , or$2.27 diluted earnings per share. - Adjusted earnings per share3 of
$2.82 increased10% from$2.56 in the prior year.
See the reconciliation of non-GAAP items in the attached financial schedules.
“Our second quarter results demonstrate the resilience of Euronet's diversified global payments platform and our ability to consistently deliver profitable growth while investing for the future," said Michael J. Brown, Euronet's Chairman and Chief Executive Officer. "We generated
One of the most encouraging developments this quarter was the continued momentum of the digital accelerators we introduced at our Investor Day in May. Collectively, revenue from these initiatives increased
Payments Infrastructure delivered another solid quarter, driven by continued growth in merchant acquiring and payment processing despite seeing some softness in European travel. epay generated another quarter of profitable growth while continuing to expand higher-value digital content and payment products. Cross-Border Payments growth faced pressure from U.S. immigration policy and favorable prior-year dynamics that did not repeat. However, our digital money transfer business and Dandelion platform continued to perform well, reinforcing our confidence in the business’s long-term growth opportunity. Looking ahead, we remain confident in our ability to deliver our full-year adjusted earnings per share growth outlook of
Segment and Other Results
As unveiled at its Investor Day, the Company has changed the name of its EFT Processing Segment to Payments Infrastructure and the name of its Money Transfer Segment to Cross-Border Payments. The Company thinks these name changes more accurately reflect the products and services provided by these segments.
The Payments Infrastructure Segment (formerly EFT Processing Segment) reports the following results for second quarter 2026 compared with the same period or date in 2025:
- Revenues of
$377.1 million , an11% increase from$338.5 million (10% increase on a constant currency basis). - Operating income of
$86.1 million , a2% increase from$84.6 million (2% increase on a constant currency basis). - Adjusted EBITDA of
$117.9 million , a7% increase from$110.6 million (6% increase on a constant currency basis). - Total of 57,814 installed ATMs as of June 30, 2026, a
1% increase from 57,326. Total of 57,071 active ATMs as of June 30, 2026, a1% increase from 56,760 as of June 30, 2025.
The Payments Infrastructure (PI) Segment delivered constant currency revenue growth of
Network expansion was modest, with installed ATMs increasing
The epay Segment reports the following results for the second quarter 2026 compared with the same period or date in 2025:
- Revenues of
$294.0 million , a5% increase from$280.1 million (4% increase on a constant currency basis). - Operating income of
$32.8 million , a5% increase from$31.1 million (5% increase on a constant currency basis). - Adjusted EBITDA of
$34.4 million , a5% increase from$32.8 million (5% increase on a constant currency basis). - Transactions of 986 million, an
11% decrease from 1,107 million. - POS terminals of approximately 739,000 as of June 30, 2026, a
2% increase from 721,000. - Retailer locations of approximately 355,000 as of June 30, 2026, essentially unchanged from 354,000.
The epay segment delivered another quarter of profitable growth, with constant currency revenue increasing
The Cross-Border Payments Segment (formerly known as Money Transfer Segment) reports the following results for the second quarter 2026 compared with the same period or date in 2025:
- Revenues of
$439.6 million , a4% decrease from$457.9 million (5% decrease on a constant currency basis). - Operating income of
$43.3 million , a34% decrease from$65.6 million (35% decrease on a constant currency basis). - Adjusted EBITDA of
$49.7 million , a31% decrease from$71.6 million (32% decrease on a constant currency basis). - Total transactions of 45.7 million, an
1% decrease from 46.1 million. - Total digital transactions of 7.9 million, a
33% increase from 5.9 million. - Network locations of approximately 651,000 as of June 30, 2026, a
3% increase from approximately 631,000.
The Cross-Border Payments (CBP) segment reported a
Corporate and Other reports
Balance Sheet and Financial Position
Total cash, including ATM cash, unrestricted cash and cash equivalents and restricted cash, was
Outlook
The Company reiterates its 2026 adjusted EPS growth of
Non-GAAP Measures
In addition to the results presented in accordance with U.S. GAAP, the Company presents non-GAAP financial measures, such as constant currency financial measures, adjusted EBITDA, and adjusted earnings per share. These measures should be used in addition to, and not a substitute for, revenues, operating income, net income and earnings per share computed in accordance with U.S. GAAP. We believe that these non-GAAP measures provide useful information to investors regarding the Company's performance and overall results of operations. These non-GAAP measures are also an integral part of the Company's internal reporting and performance assessment for executives and senior management. The non-GAAP measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies. The attached schedules provide a full reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measure.
The Company does not provide a reconciliation of its forward-looking non-GAAP measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for GAAP and the related GAAP and non-GAAP reconciliation, including adjustments that would be necessary for foreign currency exchange rate fluctuations and other charges reflected in the Company's reconciliation of historic numbers, the amount of which, based on historical experience, could be significant.
(1) Constant currency financial measures are computed as if foreign currency exchange rates did not change from the prior period. This information is provided to illustrate the impact of changes in foreign currency exchange rates on the Company's results when compared to the prior period.
(2) Adjusted EBITDA is defined as net income excluding, to the extent incurred in the period, interest expense, income tax expense, depreciation, amortization, share-based compensation and other non-operating or non-recurring items that are considered expenses or income under U.S. GAAP. Adjusted EBITDA represents a performance measure and is not intended to represent a liquidity measure.
(3) Adjusted earnings per share is defined as diluted U.S. GAAP earnings per share excluding (1), to the extent incurred in the period, the tax-effected impacts of: a) foreign currency exchange gains or losses, b) share-based compensation, c) acquired intangible asset amortization, d) non-cash income tax expense, e) non-cash investment loss/gain, and (f) dilutive shares related to the Company's convertible notes. Adjusted earnings per share represents a performance measure and is not intended to represent a liquidity measure.
Conference Call and Slide Presentation
Euronet Worldwide will host an analyst conference call on July 30, 2026, at 9:00 a.m. Eastern Time to discuss these results. The call may also include discussion of Company developments on the Company's operations, forward-looking information, and other material information about business and financial matters. To listen to the call via telephone please register at Euronet Worldwide Second Quarter 2026 Earnings Call. The conference call and accompanying slide show presentation will be accessible via webcast by following the link posted on http://ir.euronetworldwide.com. Participants should register at least five minutes prior to the scheduled start time of the event. A slideshow will be included in the webcast.
Investors may also access the Company's Investor Day presentation, which provides additional information regarding Euronet's long-term strategy, growth accelerators, and financial objectives, through the Investor Relations section of the Company's website at http://ir.euronetworldwide.com.
A webcast replay will be available beginning approximately one hour after the event at http://ir.euronet worldwide.com and will remain available for one year.
About Euronet Worldwide, Inc.
Euronet (Nasdaq: EEFT) is a global leader in payment processing and cross-border transactions, operating for more than 30 years and now serving clients in 200+ countries and territories. We support financial institutions, merchants and global brands with technology-driven solutions, while enabling businesses and consumers to send, receive and spend money seamlessly worldwide. By operating one of the world’s largest independent electronic payment networks spanning merchant acquiring, transaction processing and point-of-sale infrastructure, Euronet enables real-time, digital and cross-border movement of money at global scale. In 2025, Euronet processed more than 20 billion transactions across its network. Headquartered in Leawood, Kansas USA, Euronet operates from 74 offices worldwide. For more information, visit www.euronet.com.
Statements contained in this news release that concern Euronet's or its management's intentions, expectations, or predictions of future performance, are forward-looking statements. Euronet's actual results may vary materially from those anticipated in such forward-looking statements as a result of a number of factors, including: conditions in world financial markets and general economic conditions, including impacts from pandemics or other disease outbreaks; inflation; military conflicts in the Ukraine and the Middle East, and the related economic sanctions; our ability to successfully integrate any acquired operations; economic conditions in specific countries and regions; technological developments, including artificial intelligence affecting the market for our products and services; our ability to successfully introduce new products and services; foreign currency exchange rate fluctuations; the effects of any breach of our computer systems or those of our customers or vendors, including our financial processing networks or those of other third parties; interruptions in any of our systems or those of our vendors or other third parties; our ability to renew existing contracts at profitable rates; changes in fees payable for transactions performed for cards bearing international logos or over switching networks such as card transactions on ATMs; our ability to comply with increasingly stringent regulatory requirements, including anti-money laundering, anti-terrorism, anti-bribery, consumer and data protection and privacy; changes in laws and regulations affecting our business, including tax and immigration laws and any laws regulating payments, including dynamic currency conversion transactions and digital assets; changes in our relationships with, or in fees charged by, our business partners; competition; the outcome of claims and other loss contingencies affecting Euronet; the cost of borrowing (including fluctuations in interest rates), availability of credit and terms of and compliance with debt covenants; and renewal of sources of funding as they expire and the availability of replacement funding. These risks and other risks are described in the Company's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Copies of these filings may be obtained via the SEC's Edgar website or by contacting the Company. Any forward-looking statements made in this release speak only as of the date of this release. Except as may be required by law, Euronet does not intend to update these forward-looking statements and undertakes no duty to any person to provide any such update under any circumstances. The Company regularly posts important information to the investor relations section of its website.
| EURONET WORLDWIDE, INC. | ||||||
| Condensed Consolidated Balance Sheets | ||||||
| (in millions) | ||||||
| As of | ||||||
| June 30, | As of | |||||
| 2026 | December 31, | |||||
| (unaudited) | 2025 | |||||
| ASSETS | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 1,196.7 | $ | 1,040.3 | ||
| ATM cash | 987.2 | 650.3 | ||||
| Restricted cash | 36.8 | 23.2 | ||||
| Settlement assets | 1,425.3 | 1,910.4 | ||||
| Trade accounts receivable, net | 363.9 | 334.5 | ||||
| Prepaid expenses and other current assets | 321.7 | 311.5 | ||||
| Total current assets | 4,331.6 | 4,270.2 | ||||
| Property and equipment, net | 371.8 | 375.3 | ||||
| Right of use lease asset, net | 149.9 | 153.9 | ||||
| Goodwill and acquired intangible assets, net | 1,266.7 | 1,303.5 | ||||
| Other assets, net | 373.1 | 385.8 | ||||
| Total assets | $ | 6,493.1 | $ | 6,488.7 | ||
| LIABILITIES AND EQUITY | ||||||
| Current liabilities: | ||||||
| Settlement obligations | $ | 1,425.3 | $ | 1,910.4 | ||
| Accounts payable and other current liabilities | 852.1 | 905.2 | ||||
| Current portion of operating lease obligations | 55.8 | 54.9 | ||||
| Short-term debt obligations | 827.0 | 984.2 | ||||
| Total current liabilities | 3,160.2 | 3,854.7 | ||||
| Debt obligations, net of current portion | 1,826.8 | 1,037.0 | ||||
| Operating lease obligations, net of current portion | 97.1 | 100.6 | ||||
| Capital lease obligations, net of current portion | 0.2 | 0.6 | ||||
| Deferred income taxes | 75.9 | 78.3 | ||||
| Other long-term liabilities | 87.6 | 95.0 | ||||
| Total liabilities | 5,247.8 | 5,166.2 | ||||
| Total equity | 1,245.3 | 1,322.5 | ||||
| Total liabilities and equity | $ | 6,493.1 | $ | 6,488.7 | ||
| EURONET WORLDWIDE, INC. | ||||||||
| Consolidated Statements of Operations | ||||||||
| (unaudited - in millions, except share and per share data) | ||||||||
| Three Months Ended | ||||||||
| June 30, | ||||||||
| 2026 | 2025 | |||||||
| Revenues | $ | 1,108.4 | $ | 1,074.3 | ||||
| Operating expenses: | ||||||||
| Direct operating costs, exclusive of depreciation | 639.6 | 620.6 | ||||||
| Salaries and benefits | 193.3 | 173.5 | ||||||
| Selling, general and administrative | 98.4 | 87.8 | ||||||
| Depreciation and amortization | 40.0 | 33.8 | ||||||
| Total operating expenses | 971.3 | 915.7 | ||||||
| Operating income | 137.1 | 158.6 | ||||||
| Other income (expense): | ||||||||
| Interest income | 4.8 | 6.2 | ||||||
| Interest expense | (20.6 | ) | (28.2 | ) | ||||
| Foreign currency exchange loss, net | (0.2 | ) | (5.7 | ) | ||||
| Other income | 3.2 | 0.4 | ||||||
| Total other expense, net | (12.8 | ) | (27.3 | ) | ||||
| Income before income taxes | 124.3 | 131.3 | ||||||
| Income tax expense | (46.7 | ) | (33.6 | ) | ||||
| Net income | 77.6 | 97.7 | ||||||
| Net income attributable to noncontrolling interests | (0.2 | ) | (0.1 | ) | ||||
| Net income attributable to Euronet Worldwide, Inc. | $ | 77.4 | $ | 97.6 | ||||
| Add: Interest expense from assumed conversion of convertible notes, net of tax | 1.7 | 0.1 | ||||||
| Net income for diluted earnings per share calculation | $ | 79.1 | $ | 97.7 | ||||
| Earnings per share attributable to Euronet | ||||||||
| Worldwide, Inc. stockholders - diluted | $ | 1.71 | $ | 2.27 | ||||
| Diluted weighted average shares outstanding | 46,177,113 | 42,954,631 | ||||||
| EURONET WORLDWIDE, INC. | ||||||||||||||||
| Reconciliation of Net Income to Operating Income (Expense) and Adjusted EBITDA | ||||||||||||||||
| (unaudited - in millions) | ||||||||||||||||
| Three months ended June 30, 2026 | ||||||||||||||||
| Payments Infrastructure | epay | Cross- Border Payments | Corporate Services | Consolidated | ||||||||||||
| Net income | $ | 77.6 | ||||||||||||||
| Add: Income tax expense | 46.7 | |||||||||||||||
| Add: Total other expense, net | 12.8 | |||||||||||||||
| Operating income (expense) | $ | 86.1 | $ | 32.8 | $ | 43.3 | $ | (25.1 | ) | $ | 137.1 | |||||
| Add: Depreciation and amortization | 31.8 | 1.6 | 6.4 | 0.2 | 40.0 | |||||||||||
| Add: Share-based compensation | — | — | — | 15.7 | 15.7 | |||||||||||
| Earnings before interest, taxes, depreciation, amortization, share-based compensation (Adjusted EBITDA) (1) | $ | 117.9 | $ | 34.4 | $ | 49.7 | $ | (9.2 | ) | $ | 192.8 | |||||
.
| Three months ended June 30, 2025 | ||||||||||||||||
| Payments Infrastructure | epay | Cross- Border Payments | Corporate Services | Consolidated | ||||||||||||
| Net income | $ | 97.7 | ||||||||||||||
| Add: Income tax expense | 33.6 | |||||||||||||||
| Add: Total other expense, net | 27.3 | |||||||||||||||
| Operating income (expense) | $ | 84.6 | $ | 31.1 | $ | 65.6 | $ | (22.7 | ) | $ | 158.6 | |||||
| Add: Depreciation and amortization | 26.0 | 1.7 | 6.0 | 0.1 | 33.8 | |||||||||||
| Add: Share-based compensation | — | — | — | 13.8 | 13.8 | |||||||||||
| Earnings before interest, taxes, depreciation, amortization, share-based compensation (Adjusted EBITDA) (1) | $ | 110.6 | $ | 32.8 | $ | 71.6 | $ | (8.8 | ) | $ | 206.2 | |||||
(1) Adjusted EBITDA is a non-GAAP measure that should be considered in addition to, and not a substitute for, net income computed in accordance with U.S. GAAP.
| EURONET WORLDWIDE, INC. | ||||||||
| Reconciliation of Adjusted Earnings per Share | ||||||||
| (unaudited - in millions, except share and per share data) | ||||||||
| Three Months Ended | ||||||||
| June 30, | ||||||||
| 2026 | 2025 | |||||||
| Net income attributable to Euronet Worldwide, Inc. | $ | 77.4 | $ | 97.6 | ||||
| Foreign currency exchange loss | 0.2 | 5.7 | ||||||
| Intangible asset amortization (1) | 9.6 | 4.7 | ||||||
| Share-based compensation (2) | 15.7 | 13.8 | ||||||
| Income tax effect of above adjustments (3) | 7.2 | (13.7 | ) | |||||
| Non-cash investment gain (4) | (3.6 | ) | (0.4 | ) | ||||
| Non-cash GAAP tax expense (5) | 3.5 | 3.0 | ||||||
| Adjusted earnings (6) | $ | 110.0 | $ | 110.7 | ||||
| Adjusted earnings per share - diluted (6) | $ | 2.82 | $ | 2.56 | ||||
| Diluted weighted average shares outstanding (GAAP) | 46,177,113 | 42,954,631 | ||||||
| Effect of adjusted EPS dilution of convertible notes | (8,047,923 | ) | (176,123 | ) | ||||
| Effect of unrecognized share-based compensation on diluted shares outstanding | 931,235 | 406,912 | ||||||
| Adjusted diluted weighted average shares outstanding | 39,060,425 | 43,185,420 | ||||||
(1) Intangible asset amortization of
(2) Share-based compensation of
(3) Adjustment is the aggregate U.S. GAAP income tax effect on the preceding adjustments determined by applying the applicable statutory U.S. federal, state and/or foreign income tax rates.
(4) Non-cash investment gain of
(5) Adjustment is the non-cash GAAP tax impact recognized on certain items such as the utilization of certain material net deferred tax assets and amortization of indefinite-lived intangible assets.
(6) Adjusted earnings and adjusted earnings per share are non-GAAP measures that should be considered in addition to, and not as a substitute for, net income and earnings per share computed in accordance with U.S. GAAP.
Contact: Euronet Worldwide, Inc. Stephanie Taylor +1-913-327-4200