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. (NYSE: EVTC) is a transaction processing and financial technology company serving Latin America, Puerto Rico and the Caribbean, and its news flow reflects its role in regional payments infrastructure. Company updates frequently cover quarterly earnings, segment performance across merchant acquiring, payment services and business solutions, and revisions to financial outlooks, including revenue and adjusted earnings guidance.
Investors following EVTC news can expect regular earnings releases detailing trends in transaction volumes, constant currency revenue, Adjusted EBITDA and other non-GAAP metrics that the company uses alongside GAAP results. These releases often discuss performance in Puerto Rico, the Caribbean and Latin America, including contributions from acquisitions and specific services such as ATH Movil within the broader ATH network.
EVERTEC’s news also includes capital allocation actions such as share repurchase authorizations and quarterly cash dividends on common stock, as approved by its Board of Directors. Corporate announcements may highlight changes in executive leadership roles, amendments to credit agreements and term loan facilities, and other financing-related developments disclosed through press releases and Form 8-K filings.
Another important category of news involves strategic transactions and risk events. EVERTEC has reported agreements to acquire, and the closing of the acquisition of, a controlling stake in Tecnobank Tecnologia Bancária S.A. in Brazil, expanding its fintech capabilities in digital vehicle financing contract registration. It has also disclosed an incident involving unauthorized activity in the Pix real-time payment environment operated by its Brazilian subsidiary Sinqia, describing its response, engagement with regulators and customers, and potential impacts.
For readers tracking EVTC, this news page aggregates these types of announcements so they can monitor financial results, corporate actions, acquisitions, technology and operational updates that shape EVERTEC’s position in the Latin American payments and financial technology landscape.
EVERTEC, Inc. (NYSE: EVTC) has acquired 100% of paySmart Pagamentos Eletronicos Ltda for R$130 million (approximately USD $25 million). This transaction is pivotal for EVERTEC, as it strengthens its issuer processing and BIN sponsorship services in Brazil, a key market for growth. The CEO, Mac Schuessler, emphasized that this acquisition accelerates their expansion in Brazil and enhances their current service offerings. EVERTEC operates extensively in transaction processing across Puerto Rico, the Caribbean, and Latin America, processing over three billion transactions annually.
EVERTEC, Inc. (NYSE: EVTC) reported a 4% revenue increase to $161.8 million for Q4 2022, and a 5% growth to $618.4 million for the full year. GAAP net income for Q4 was $28.7 million ($0.44/share), down from $41.1 million ($0.56/share) the previous year. Adjusted EBITDA decreased 10% to $68.4 million, with an adjusted net income decline of 19%. The company returned $110 million to shareholders through stock repurchases and dividends. For 2023, EVERTEC anticipates revenue between $638 million and $647 million and adjusted earnings per share between $2.53 and $2.64.
EVERTEC, Inc. (NYSE: EVTC) declared a regular quarterly dividend of $0.05 per share on February 16, 2023, payable on March 17, 2023. Shareholders of record as of February 28, 2023 will receive this dividend. The Board anticipates future dividends will be declared regularly, subject to business needs and market conditions. EVERTEC is a full-service transaction processing company operating across Puerto Rico, the Caribbean, and Latin America, handling approximately three billion transactions annually, and providing extensive merchant and banking services.
EVERTEC, Inc. (NYSE: EVTC) will host a conference call on February 22, 2023, at 4:30 p.m. ET to review its fourth quarter financial results for 2022. This event will feature Mac Schuessler, President and CEO, and Joaquin Castrillo, CFO. A press release detailing the financial results will be issued shortly after market close on the same day. Participants can access the call at (888) 338-7153 or via webcast on the company’s official website. EVERTEC is a prominent transaction processing firm in Puerto Rico and Latin America, managing over three billion transactions annually with a diverse client base. For more information, visit www.evertecinc.com.
EVERTEC, Inc. (NYSE: EVTC) announced the successful refinancing of its credit facilities on December 1, 2022. The new agreements include a $200 million revolving credit facility and a $415 million term loan A, both maturing on December 1, 2027. Proceeds will refinance existing loans. The term loan's interest rate will be based on adjusted SOFR plus a spread that varies with the company’s leverage ratio. CFO Joaquin Castrillo expressed enthusiasm about the refinancing, highlighting expected flexibility for strategic initiatives, particularly M&A.
EVERTEC, Inc. reported its third-quarter results for 2022, with total revenue remaining flat at $145.8 million. The GAAP net income attributable to common shareholders was $137.8 million, or $2.06 per diluted share, boosted by a $135.6 million gain from the Popular transaction. Adjusted EBITDA fell 25% to $52.4 million, impacted by foreign currency remeasurement and rising operating costs. The outlook for 2022 anticipates total consolidated revenue between $607 million and $615 million, with adjusted earnings per share expected to decline 10-14% compared to 2021.
EVERTEC, Inc. (NYSE: EVTC) has declared a quarterly dividend of $0.05 per share on October 20, 2022, payable on December 2, 2022, to shareholders recorded by November 1, 2022. The Board anticipates future dividend declarations, subject to approval and potential adjustments based on business and market conditions. EVERTEC provides transaction processing services across Puerto Rico, the Caribbean, and Latin America, operating the ATH® network and processing over three billion transactions annually. The company serves a diverse clientele including financial institutions and government agencies.
EVERTEC, Inc. (NYSE: EVTC) is set to conduct a conference call and webcast on November 2, 2022, at 4:30 p.m. ET to discuss its third quarter financial results. The call will feature CEO Mac Schuessler and CFO Joaquin Castrillo. A press release with the financial results will be released shortly after market close on the same day. Investors can access the live call via phone or webcast through the company's website. Replays will be available until November 9, 2022.
EVERTEC (NYSE: EVTC) announced a donation of up to $250,000 for hurricane relief in Puerto Rico, including support for affected employees. From September 23 to October 7, the company will match online donations made through the ATH Móvil application up to $100,000, with a $5,000 cap per organization. This initiative aims to aid local institutions in recovery efforts post-Hurricane Fiona.
Popular, Inc. (NASDAQ:BPOP) has successfully sold its remaining 7,065,634 shares of EVERTEC, Inc. (NYSE:EVTC). This includes 6,262,293 shares sold through an underwritten public offering, generating approximately $219.8 million in total proceeds.
With an after-tax gain of around $131 million, Popular plans to use these gains for common stock repurchases, enhancing shareholder value. Following this transaction, Popular no longer holds any shares of EVERTEC.