Evertec Inc Stock Price, News & Analysis

EVERTEC (NYSE: EVTC) will host a conference call on October 27, 2021, at 4:30 p.m. ET to discuss its third quarter financial results. The call will feature Mac Schuessler, the President and CEO, and Joaquin Castrillo, the CFO. A press release with financial results will be issued post-market close on October 27. Investors can access the call by phone or via a live webcast on the Company’s website. EVERTEC is a leading transaction processing business in Puerto Rico and Latin America, operating the ATH® network and processing approximately three billion transactions annually.

Evertec (NYSE: EVTC) announced an upgrade to its issuer credit rating by S&P Global Ratings from 'B+' to 'BB-' with a stable outlook, reflecting its strong credit metrics and conservative balance sheet. S&P noted the company’s resilience amidst challenges, including the COVID-19 pandemic, and expects consistent performance over the next two years due to its solid market position in Puerto Rico and growth in Latin America. This rating follows a similar upgrade by Moody's, enhancing Evertec's financial credibility.

EVERTEC, Inc. (NYSE: EVTC) announced that Moody's Investors Services upgraded its corporate family credit rating from B2 to B1. This upgrade reflects anticipated revenue growth, excellent liquidity, and moderate leverage. Moody's noted Evertec's commitment to diversifying its business as a significant factor for the upgrade. CFO Joaquín Castrillo highlighted the upgrade as a recognition of the company's market position and balance sheet strength.

Evertec reported a robust second quarter for 2021, achieving a 26% increase in revenue to $149.1 million compared to the previous year. GAAP net income surged to $49.2 million, or $0.68 per diluted share, reflecting a significant recovery from prior year impacts of COVID-19. Adjusted EBITDA rose 60% to $80.3 million, with an impressive adjusted earnings per share of $0.78.

The company is optimistic, raising its full-year revenue guidance to between $570 million and $579 million, indicating a growth projection of 12% to 13%.

EVERTEC, Inc. (NYSE: EVTC) announced a regular quarterly dividend of $0.05 per share, to be paid on September 3, 2021, with a record date of August 2, 2021. The Board of Directors anticipates regular future dividends, although these are subject to approval and may be adjusted based on business needs or market conditions. EVERTEC, a leading transaction processing company in Puerto Rico and Latin America, offers a wide range of services including payment processing and technology outsourcing, handling approximately three billion transactions annually.

EVERTEC, Inc. (NYSE: EVTC) will host a conference call on August 3, 2021, at 4:30 p.m. ET to discuss its second quarter financial results. The call will be led by President and CEO Mac Schuessler and CFO Joaquin Castrillo. A press release detailing the financial results will be issued after market close on the same day. Interested parties can access the call by phone or via webcast on the company's investor relations website. EVERTEC provides transaction processing and business solutions throughout Puerto Rico, the Caribbean, and Latin America.

EVERTEC, Inc. (NYSE: EVTC) announced that CEO Mac Schuessler and CFO Joaquin Castrillo will present at the 41^st Annual William Blair Growth Stock Conference on June 1, 2021, at 2:20 p.m. ET. The event will be available for live streaming via the company's investor relations website. EVERTEC is a prominent transaction processing company operating in Puerto Rico, the Caribbean, and Latin America, processing over two billion transactions annually and managing the ATH® network for PIN debit transactions.

EVERTEC, Inc. (NYSE: EVTC) announced key management changes, appointing Diego Viglianco as Chief Operating Officer and Philip Steurer, formerly COO, as Chief Strategy Officer. CEO Mac Schuessler expressed optimism about these changes, highlighting Viglianco's extensive experience in Latin American payments and Steurer's deep industry knowledge since joining Evertec in 2012. With over two billion transactions processed annually, Evertec continues to enhance its leadership as it aims to align product strategy and seize market opportunities in Latin America and the Caribbean.

Evertec announced a strong financial performance for Q1 2021, with a 14% revenue increase to $139.5 million. GAAP Net Income rose to $35.5 million, or $0.49 per diluted share, marking a substantial improvement from the previous year. Adjusted EBITDA surged by 22% to $68.9 million, reflecting a margin increase of 320 basis points. The company also repurchased $14.3 million in shares. Given strong results and market conditions, Evertec revised its 2021 outlook to project revenue between $543 million and $552 million.