Evertec Inc Stock Price, News & Analysis

Evertec reported an 8% revenue increase in Q2 2022, totaling $160.6 million, driven by transaction volume growth in Puerto Rico and Latin America. However, GAAP net income fell 32% to $33.6 million, reflecting a $4.1 million software impairment and rising operational costs. Adjusted EBITDA dropped 9% to $73.4 million, with a margin decrease to 45.7%. The company narrowed its 2022 revenue outlook to $607-$615 million, forecasting adjusted EPS between $2.52 and $2.60, down from $2.74 in 2021. Share repurchases amounted to $14 million with $115 million remaining in the program.

EVERTEC, Inc. (NYSE: EVTC) has declared a quarterly dividend of $0.05 per share, payable on September 2, 2022, to shareholders of record as of August 8, 2022. This announcement reflects the Board's commitment to returning value to shareholders, with plans for regular future declarations subject to market conditions. EVERTEC operates one of the leading transaction processing networks in Puerto Rico, the Caribbean, and Latin America, handling over three billion transactions annually.

Popular, Inc. reported net income of $211.4 million for Q2 2022, slightly down from $211.7 million in Q1 2022. The net interest margin increased to 3.09% from 2.75%, aided by higher interest rates and loan growth across most categories, except mortgages. Non-performing loans decreased by $42 million, with a ratio of 1.6% of total loans. Total assets grew by $2 billion, while deposits increased by $2.5 billion. The bank's Common Equity Tier 1 ratio remained strong at 16.39%.

EVERTEC, Inc. (NYSE: EVTC) will host a conference call on August 4, 2022, at 4:30 p.m. ET to discuss second-quarter financial results. The call features President and CEO Mac Schuessler and CFO Joaquin Castrillo. A press release will be issued after market close on the same day. Interested parties can access the call by dialing (888) 338-7153 or through the company’s website. EVERTEC is a leading transaction processing company in Puerto Rico and Latin America, managing electronic payment networks and processing over three billion transactions annually.

EVERTEC, Inc. (NYSE: EVTC) has successfully closed its Popular Transaction and the acquisition of BBR, SpA for approximately USD$53 million. The Popular Transaction entails significant extensions to commercial agreements with Banco Popular of Puerto Rico, enhancing their merchant acquiring relationship, including a revenue-sharing provision. The BBR acquisition expands EVERTEC's operations into Chile and Peru, reinforcing its growth strategy in Latin America. These developments are pivotal for future growth and market presence.

Popular, Inc. (BPOP) has completed the acquisition of assets from Evertec Group, enhancing its digital banking services and commercial cash management applications. This move allows Popular's Banco Popular de Puerto Rico (BPPR) to improve flexibility in technology partnerships, reduce service costs, and strengthen its customer service capabilities. The acquisition involved 4,589,169 shares of Evertec common stock, valued at $169 million, leading to an estimated after-tax gain of $112 million. However, the transaction impacts Popular's tangible book value negatively by approximately $55 million.

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.