Stoneco Ltd. Stock Price, News & Analysis

StoneCo (Nasdaq: STNE; B3: STOC31) has announced an additional board change to support its next growth stage. The company's Board has appointed Antonio Silveira as a new Board Member, effective immediately. Mr. Silveira is currently the Chief Technology Officer (CTO) at Attentive, a leader in AI-powered mobile marketing solutions.

With over 15 years of experience in technology, Mr. Silveira has led organizations through significant expansion, developed innovative vertical products, and overseen the modernization of technology infrastructures. In his role as a Board Member, he will support the guidelines for technology to further distinguish Stone in the market and drive innovation within the company.

StoneCo (Nasdaq: STNE, B3: STOC31) reported strong Q2 2024 results, with adjusted net income of R$ 497 million, up 54% year-over-year. Total revenue reached R$ 3.2 billion, an 8% increase from the previous year. The company's financial services segment saw an 11% revenue growth to R$ 2.8 billion, with Total Payment Volume (TPV) from SMEs growing 25% year-over-year. The SME client base expanded by 30% to 3.9 million active payment clients. Stone's banking platform experienced significant growth, with a 62% increase in client base to 2.7 million and a 65% rise in deposits to R$ 6.5 billion. The credit portfolio grew 32% quarter-over-quarter to R$ 712 million. The software segment's revenue remained stable at R$ 384 million. Stone's CEO, Pedro Zinner, highlighted the company's progress in building a comprehensive ecosystem for Brazilian SMEs and the execution of a R$ 1 billion share buyback program.

StoneCo (Nasdaq: STNE) reported its Q2 2024 financial results, showcasing strong performance across key metrics. Key highlights include:

Total Revenue and Income: R$3,205.9 million, up 8.5% YoY. Adjusted EBITDA: R$1,587.2 million, increasing 5.9% YoY with a 49.5% margin. Adjusted EBT: R$652.2 million, up 45.9% YoY. Adjusted Net Income: R$497.1 million, growing 54.4% YoY. MSMB Card TPV: R$97.8 billion, up 17.4% YoY. Active Banking Clients: 2.7 million with R$6.5 billion in deposits. Share Repurchase: Repurchased 9.67 million shares for R$724 million in 3Q24. Additionally, the company allocated $295 million for a tender offer of its 2028 bonds, achieving nearly 60% participation. Despite market headwinds, StoneCo remains confident in meeting its 2024 guidance.

StoneCo (Nasdaq: STNE, B3: STOC31) announced the expiration and final results of its tender offer and consent solicitation for its 3.950% senior notes due 2028. The offer expired at 5:00 p.m. on July 30, 2024.

Based on data from D.F. King & Co., Inc., 58.91% of the principal amount, equating to $294.56 million, was tendered. The final settlement date is anticipated to be around July 31, 2024. Holders who tendered their notes by the early deadline will receive the total consideration including early tender consideration, while others will receive just the tender offer consideration. All accepted tenders will also receive accrued interest.

The company also solicited and received the requisite consents for proposed amendments to the indenture governing the notes, eliminating restrictive covenants and allowing the company to substitute itself as principal debtor. The amendments will become operative upon payment on the settlement date.

StoneCo (Nasdaq: STNE; B3: STOC31) has released its 2023 Sustainability Report. The report adheres to indicators from the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB). In a significant step forward, StoneCo has begun reporting climate information in line with recommendations from the Task Force on Climate Related Financial Disclosures (TCFD).

This comprehensive report demonstrates StoneCo's commitment to transparency and sustainable business practices. By aligning with globally recognized standards, the company provides stakeholders with valuable insights into its environmental, social, and governance (ESG) performance. The inclusion of TCFD-aligned climate information further enhances the report's relevance in addressing growing concerns about climate-related risks and opportunities in the financial sector.

StoneCo (Nasdaq: STNE, B3: STOC31) has announced that it will release its second quarter 2024 financial results on August 14th, 2024, after market close. The company will host a conference call to discuss these results at 5:00pm ET (6:00pm BRT) on the same day.

Investors can access the conference call via Zoom webinar or by phone from various countries. A live webcast and replay will be available on Stone's investor relations website. The company will enter its Quiet Period related to Q2 2024 financial results on July 24th, 2024.

StoneCo (Nasdaq: STNE) announced the results of its Early Tender Deadline for its 3.950% Senior Notes due 2028. 58.91% of the outstanding $500 million principal amount ($294,558,000) was tendered by the July 15, 2024 deadline. The Tender Offer and Consent Solicitation will expire on July 30, 2024. Holders who tendered by the Early Tender Deadline are eligible for the Total Consideration, including the Early Tender Consideration.

The company received the Requisite Consents to amend the indenture, eliminating most restrictive covenants and allowing for debtor substitution. Payment for all accepted Notes is expected around July 31, 2024. The company will pay a $2.50 soliciting broker fee per $1,000 principal amount for retail brokers with clients tendering $250,000 or less.

StoneCo (Nasdaq: STNE) has initiated a cash tender offer to purchase its outstanding 3.950% senior notes due 2028, totaling $500 million. The offer includes a consent solicitation for amendments to the indenture governing the notes, aiming to eliminate restrictive covenants and allow a substituted debtor. The tender offer provides a total consideration of $880 per $1,000 principal if tendered by July 15, 2024, with an early tender consideration of $30. The offer expires on July 30, 2024, with early and final settlement dates expected around July 17 and July 31, respectively. Withdrawals and consent revocations are allowed until July 15, 2024. Payment includes accrued interest, and broker fees apply under specific conditions. The offer's completion is subject to certain conditions described in the solicitation statement.

StoneCo (Nasdaq: STNE) reported a strong first quarter for 2024, with adjusted net income reaching R$450 million, marking a 90% increase year-over-year. The company achieved a total revenue of R$3.1 billion, up 14% from the same period last year. Adjusted EBT rose by 75% to R$568 million, with an 18.4% margin. Financial services revenue grew by 16% to R$2.7 billion, supported by a 24% increase in Total Payment Volume (TPV) for SMEs. The SME customer base expanded by 33%, now totaling 3.7 million active clients. Additionally, the banking platform saw a 53% rise in deposits, reaching R$6 billion. On the software front, revenue increased by 3%, with Adjusted EBITDA climbing to R$66 million. CEO Pedro Zinner highlighted the company's strategic growth and robust profitability.