Welcome to our dedicated page for Evertec news (Ticker: EVTC), a resource for investors and traders seeking the latest updates and insights on Evertec stock.
Evertec Inc (EVTC) is a leading provider of transaction processing solutions across Latin America, powering secure payment systems and banking infrastructure for financial institutions, merchants, and governments. This dedicated news hub offers investors and industry professionals timely access to official announcements and strategic developments.
Track critical updates including quarterly earnings reports, technology partnerships, regulatory compliance changes, and market expansion initiatives. Our curated collection ensures transparent access to press releases covering payment processing innovations, merchant acquiring services, and advancements in core banking solutions.
Key updates include new product launches across Evertec's ATH network, strategic collaborations enhancing financial technology ecosystems, and operational milestones in cash processing efficiency. Bookmark this page for streamlined monitoring of EVTC's evolving role in shaping Latin America's digital payment landscape.
EVERTEC (NYSE: EVTC) reported strong Q2 2024 results, with revenue increasing 27% to $212.0 million. GAAP Net Income attributable to common shareholders rose 13% to $31.9 million ($0.49 per diluted share). Adjusted EBITDA grew 16% to $86.1 million, while Adjusted earnings per share increased 17% to $0.83.
The company completed an accelerated share repurchase transaction on July 9, 2024. EVERTEC's 2024 outlook projects total consolidated revenue between $846-854 million (22-23% growth) and Adjusted EPS between $2.98-$3.07 (6-9% growth). The effective tax rate is expected to be approximately 5%.
Growth was driven by the Sinqia acquisition and organic expansion across all segments, particularly in Puerto Rico and Latin America. However, the Adjusted EBITDA margin decreased by 400 basis points due to Sinqia's lower margin contribution.
EVERTEC (NYSE: EVTC) has announced a regular quarterly dividend of $0.05 per share. The dividend was declared on July 18, 2024, and will be paid on September 6, 2024 to stockholders of record as of July 29, 2024. The company's Board of Directors anticipates declaring this dividend in future quarters on a regular basis, subject to approval and potential adjustments based on business needs or market conditions.
EVERTEC (NYSE: EVTC) has announced its plans to release second quarter 2024 financial results on July 31, 2024. The company will host a conference call and webcast at 4:30 p.m. ET on the same day to discuss the results. Mac Schuessler, President and CEO, and Joaquin Castrillo, CFO, will participate in the call. Investors can access the call via phone or webcast through the company's website. A replay will be available until August 7, 2024. This announcement provides an opportunity for investors and analysts to gain insights into EVERTEC's financial performance and future outlook.
EVERTEC (NYSE: EVTC) has successfully repriced its $540 million Term Loan B (TLB), which is due in 2030. The new interest rate is set at SOFR + 325 basis points, down from SOFR + 350 basis points, reducing the cost by 25 basis points. This repricing does not affect the leverage of the company, and no other terms of the loan have been changed. Joaquin A. Castrillo-Salgado, the Executive Vice-President and CFO, highlighted the strong market demand for their debt, which has allowed EVERTEC to improve its capital structure and cash flow profile.
EVERTEC, Inc. (NYSE: EVTC) reported its first quarter 2024 results with revenue increasing by 28% to $205.3 million. GAAP Net Income decreased by 47% to $16.0 million. Adjusted EBITDA went up by 16% to $78.2 million. The company entered into an ASR agreement for $70 million. Overall, Evertec is pleased with its results and continues to expand in Latin America.
FAQ
What is the current stock price of Evertec (EVTC)?
What is the market cap of Evertec (EVTC)?
