EVERTEC INC ( (EVTC) ) has released its Q4 earnings. Here is a breakdown of the information EVERTEC INC presented to its investors.
EVERTEC, Inc. is a leading financial technology provider and transaction processor in Latin America, Puerto Rico, and the Caribbean, offering a wide range of merchant acquiring, payment services, and business process management solutions. The company operates the ATH® network, one of the prominent PIN debit networks in the region, and provides financial technology outsourcing services across 26 Latin American countries.
In its latest earnings report, EVERTEC, Inc. announced a significant increase in revenue and net income for both the fourth quarter and the full year of 2024. The company also highlighted its strategic acquisition of Nubity, a cloud services provider, as part of its growth strategy. The acquisition aims to enhance EVERTEC’s product offerings and expand its market presence in Latin America.
Key financial metrics for the fourth quarter of 2024 include an 11% increase in revenue to $216.4 million and a remarkable 249% rise in GAAP net income attributable to common shareholders, reaching $40.1 million. Adjusted EBITDA also saw a substantial growth of 24%, amounting to $88.6 million. For the full year, revenue grew by 22% to $845.5 million, while GAAP net income increased by 41% to $112.6 million. The company returned $95.2 million to shareholders through share repurchases and dividends, reflecting its commitment to shareholder value.
EVERTEC’s strategic focus for 2025 includes optimizing margins, thoughtful capital allocation, and driving organic revenue growth. The company projects a revenue growth of 5.1% to 6.3% for the upcoming year and anticipates adjusted earnings per share to increase by up to 5.2%. With a strong foundation and strategic acquisitions, EVERTEC aims to continue its growth trajectory in the financial technology sector.
Looking ahead, EVERTEC’s management remains optimistic about the company’s future prospects, emphasizing its commitment to expanding its market presence and enhancing shareholder value through strategic initiatives and acquisitions. The company is well-positioned to leverage its existing client base and capitalize on growth opportunities in its core markets.