Evertec Inc Stock Price, News & Analysis

EVERTEC, Inc. (NYSE: EVTC) announced that its CEO Mac Schuessler and CFO Joaquin Castrillo will present at William Blair's 42nd Annual Growth Stock Conference at 2:40 p.m. CT on June 8, 2022. The event will feature a fireside chat, which interested parties can listen to live via the investor relations section of the company’s website. A replay will be available post-event. EVERTEC is a leading transaction processing business in Puerto Rico, the Caribbean, and Latin America, processing over three billion transactions annually.

Evertec reported first-quarter 2022 revenue of $150.2 million, an 8% increase from $139.5 million in the previous year. GAAP net income was $38.9 million, or $0.53 per diluted share, marking a $3.4 million increase. Adjusted EBITDA rose 9% to $75.4 million with a margin of 50.2%. The company plans to repurchase up to $129 million in shares and expects 2022 revenues between $597 million and $605 million, representing a growth of 1% to 3%. However, adjusted earnings per share are projected to decline by 5% to 8% compared to 2021.

EVERTEC, Inc. (NYSE: EVTC) announced a quarterly dividend of $0.05 per share, declared on April 21, 2022, with a payment date of June 3, 2022, to stockholders of record by May 2, 2022. The Board of Directors anticipates regular future dividends, contingent on business needs and market conditions. EVERTEC is a prominent transaction processing firm in Puerto Rico and Latin America, processing over three billion transactions annually, providing various payment services and technology outsourcing across 26 countries.

EVERTEC, Inc. (NYSE: EVTC) will host a conference call on April 28, 2022, at 4:30 p.m. ET to discuss its first quarter financial results. The call will feature CEO Mac Schuessler and CFO Joaquin Castrillo. A press release with detailed financial metrics will be issued shortly after market close on the same day. Interested parties can access the call live via phone or webcast, with a replay available until May 5, 2022.

Evertec, Inc. (NYSE: EVTC) has announced a strategic agreement with Banco Popular de Puerto Rico (NASDAQ: BPOP) to extend key commercial agreements. This includes a 10-year extension of the Merchant Acquiring ISO Agreement, a 5-year extension of the ATH Network Participation Agreement, and a 3-year extension of the Master Services Agreement. Additionally, Evertec will sell certain assets to BPPR for approximately $197 million, payable in Evertec stock. Post-transaction, Evertec aims to enhance flexibility for growth opportunities, no longer being classified as a subsidiary of Popular.

EVERTEC, Inc. (NYSE: EVTC) has signed a share purchase agreement to acquire 100% of BBR SpA, a Chile-based payment solutions company, for CLP 48,600 million (approximately USD 60 million). This acquisition enhances EVERTEC's technology portfolio in Chile and facilitates entry into the Peruvian market, expanding its regional footprint. The transaction is subject to customary closing conditions, including regulatory approval, which may impact the timing of completion.

Evertec announced strong results for Q4 and full year 2021, with revenue increasing by 16% to $155.2 million in Q4 and $589.8 million for the year. GAAP net income rose 27% in Q4 to $41.1 million and 54% for the year to $161.1 million. Adjusted EBITDA also saw significant growth, up 19% in Q4 and 23% annually, reaching $75.9 million and $294.8 million, respectively. The company expanded its relationship with Popular and acquired BBR, SpA in Chile. A share repurchase authorization was increased to $150 million. The 2022 outlook projects revenue of $591-$600 million but sees a potential decline in adjusted earnings per share.

EVERTEC, Inc. (NYSE: EVTC) declared a quarterly dividend of $0.05 per share on February 15, 2022. This dividend is scheduled for payment on March 25, 2022, to stockholders on record as of February 25, 2022. The Board of Directors plans to continue declaring dividends regularly, although future payments will depend on business performance and market conditions.

EVERTEC, Inc. (NYSE: EVTC) announced a conference call scheduled for February 24, 2022 at 4:30 p.m. ET to discuss its fourth quarter 2021 financial results. The call will feature CEO Mac Schuessler and CFO Joaquin Castrillo, with a press release detailing the financial results to be released after market close on the same day. The call can be accessed via phone or live webcast through the company's website.

As a leading transaction processing business in Puerto Rico and Latin America, EVERTEC operates the ATH® network, processing approximately three billion transactions annually.