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. reports developments as a transaction processor and financial technology provider serving Latin America, Puerto Rico and the Caribbean. The company provides merchant acquiring, payment services, business process management, core banking, cash processing and financial technology outsourcing services, and it owns and operates the ATH PIN debit network.
Company news commonly covers operating results by merchant acquiring, Payments Puerto Rico, Latin America and Business Solutions activities; transaction and sales volume trends; completed acquisitions such as Dimensa and Tecnobank; regular cash dividends; share repurchase authorization; and cloud technology updates involving Nubity by Evertec.
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.
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EVERTEC, Inc. (NYSE: EVTC) has awarded over 170 scholarships amounting to more than $185,000 to university students in Puerto Rico and Latin America, promoting gender equity in STEM. The initiative maintains equal participation for men and women for the second consecutive year, aligning with the company's commitment to diversity and inclusion. Over its seven-year program, EVERTEC has granted 690 scholarships totaling over $870,000, aiming to develop a skilled workforce in the region.
EVERTEC, Inc. (NYSE: EVTC) reported a 7% revenue increase to $145.9 million for Q3 2021, alongside a net income of $35.3 million or $0.48 per diluted share. However, Adjusted EBITDA dipped slightly to $69.8 million, resulting in a margin contraction. Year-to-date revenue rose 15% to $434.6 million, with net income at $120.0 million and an adjusted earnings per share of $2.02. The company raised its 2021 revenue outlook to between $574 million and $583 million.
EVERTEC, Inc. (NYSE: EVTC) has been chosen as the issuer processor for a new Mastercard credit card by Caja Popular Mexicana (CPM), Mexico's largest savings and loans cooperative. This partnership aims to enhance payment flexibility for CPM's 3 million members through the Evertec PayStudio platform. The collaboration includes integrated fraud prevention with RiskCenter 360 and various value-added services to improve credit product management. This agreement reinforces Evertec's leadership in Latin America's transaction processing sector.
Evertec, Inc. (NYSE: EVTC) announced a quarterly dividend of $0.05 per share, declared on October 21, 2021, and set for payment on December 3, 2021. Stockholders of record as of November 1, 2021 will receive this dividend. The Board of Directors plans to continue dividend declarations in the future, but these are subject to approval and may change based on business needs or market conditions. Evertec is a leading transaction processing company in Puerto Rico and Latin America, managing approximately three billion transactions annually.