NCR Atleos Corp Stock Price, News & Analysis

NCR Atleos (NYSE: NATL) has received a credit rating upgrade from Moody's Ratings, reflecting its solid strategic execution and financial performance since separating from NCR in October 2023. Moody's has upgraded Atleos' Corporate Family Rating to B1 from B2 and raised the rating for its senior secured first lien debt instruments to B1 from B2.

The upgrade is attributed to Atleos' improved leverage profile, solid free cash flow, and commitment to debt reduction. Paul Campbell, CFO of Atleos, expressed satisfaction with the recognition of the company's progress in its first year as an independent entity. Atleos anticipates continued momentum in leveraging its hardware base to generate additional service, software, and transaction revenue streams, potentially leading to stronger earnings and free cash flow.

NCR Atleos (NYSE: NATL) reported strong Q2 2024 results, with revenue growing 4% year-over-year to $1.08 billion. Recurring revenue increased 9% to $793 million. The company achieved a GAAP net income of $29 million and Adjusted EBITDA of $193 million. GAAP fully diluted income per share was $0.39, while non-GAAP fully diluted earnings per share reached $0.81.

Atleos reaffirmed and narrowed its full-year 2024 targets, projecting revenue between $4.26-$4.34 billion and Adjusted EBITDA of $770-$800 million. The company also issued Q3 2024 guidance, expecting revenue of $1.045-$1.075 billion and Adjusted EBITDA of $195-$205 million.

NCR Atleos (NYSE: NATL) announced that Credit Union of America (CUA), a $1.5 billion-asset institution, has joined Atleos' Allpoint Network to expand its national reach and enhance members' access to financial services. This partnership allows CUA's members to use over 55,000 surcharge-free ATMs across the country, in addition to their existing ATM network.

The collaboration aims to provide CUA members with convenient physical touchpoints for cash withdrawals and other critical financial services, especially in areas without nearby branches. Dan Umscheid, VP of Payments Solutions & Strategy for CUA, emphasized the importance of offering reliable, surcharge-free access to cash as part of their expansion strategy. Steven Nogalo, GM of North America for Atleos, highlighted the increasing demand for utility ATM networks, which benefit both consumers and financial institutions.

NCR Atleos (NYSE: NATL) has announced an expanded partnership with Chime, the #1 Most Loved Banking App. Chime will now brand ATMs at 4,000 Walgreens stores across the United States, leveraging Atleos' Allpoint Network. This expansion builds on their existing relationship, which has provided Chime members with access to over 50,000 fee-free ATMs since 2021.

The branding initiative, set to begin in August, aims to increase Chime's visibility and make it easier for cardholders to identify fee-free ATMs. This move enhances Chime's strategy of combining mobile-first banking with convenient cash access, allowing members to withdraw money at no cost while shopping at Walgreens.

NCR Atleos (NYSE: NATL) has announced its second quarter 2024 earnings conference call details. The financial results will be released after market close on Tuesday, August 13, 2024. The conference call is scheduled for Wednesday, August 14, 2024, at 8:30 a.m. Eastern Time.

Participants can access the call using the following details:

• Toll-free number: 800-753-0725
• Local number: +1 786-460-7170
• Passcode: 8004782

The live call and presentation materials will be available on the company's investor relations website. An archived version will be accessible shortly after the call concludes.

NCR Atleos (NYSE: NATL) announced that Black Hills Federal Credit Union (BHFCU) has expanded its partnership, selecting ATM as a Service (ATMaaS) and ITM as a Service (ITMaaS) to transform self-service banking. BHFCU, a $2.3 billion-asset credit union, aims to simplify operations and replace its aging ATM fleet. Atleos will manage hardware, software, security, installation, maintenance, cash management, and processing for BHFCU's self-service banking channel.

This partnership will allow BHFCU to boost efficiencies, reduce complexities, and deliver an improved member experience. The credit union will be able to widen access to financial services while streamlining business processes and focusing on strategic initiatives. Atleos' services will help BHFCU optimize availability, uptime, and strengthen its compliance and security posture, ultimately better serving its 110,000+ members.

NCR Atleos (NYSE: NATL), a leader in self-service financial solutions, has launched multi-bank deposit ATMs in the UK. These ATMs are connected to the LINK network, which integrates almost all UK ATMs, ensuring widespread cash access.

The first installations were in Co-op Food stores in Ormskirk, followed by Dover, Heathfield, and Swanage, with more locations planned. This initiative supports local economies and provides essential cash services, especially in regions with closed bank branches.

The service targets consumers needing cash deposits outside regular banking hours or in areas without physical bank branches, addressing a critical need for continued cash access.

NCR Atleos (NYSE: NATL) has partnered with DeepSeas to offer Managed Detection and Response (MDR) services. This collaboration aims to enhance cybersecurity for Atleos T&T's global customer base, addressing increased data security risks. According to Statista, U.S. cybercrime costs are projected to reach $452B in 2024. Atleos T&T, known for its extensive network infrastructure services, will integrate DeepSeas' MDR solutions to bolster its end-to-end enterprise networking services. DeepSeas brings nearly 30 years of cyber defense experience and is recognized as a top provider in the MDR market. This partnership reflects Atleos' commitment to providing robust cyber defense solutions, enhancing the security and integrity of networks worldwide.

NCR Atleos (NYSE: NATL) reported its Q1 2024 financial results, highlighting a strong start to the year with revenues of $1.05 billion, up 6% YoY, and recurring revenues reaching a record $763 million, a 7% increase.

Adjusted EBITDA grew by 11% to $162 million, and the company achieved an adjusted free cash flow of $69 million. Despite a GAAP net loss of $8 million and a diluted loss per share of $0.11, the non-GAAP diluted earnings per share stood at $0.41.

Self-service banking and network segments saw solid performance, with revenue increases of 4% and 3%, respectively. The company reaffirmed its full-year guidance, projecting revenues between $4.20-$4.40 billion and adjusted EBITDA of $770-$800 million.

The reaffirmation of the 2024 financial targets and the issuance of Q2 guidance underscore the company's optimistic outlook, driven by market-leading solutions in self-service banking and a vast ATM network.