Welcome to our dedicated page for Euronet Worldwide news (Ticker: EEFT), a resource for investors and traders seeking the latest updates and insights on Euronet Worldwide stock.
Euronet Worldwide Inc (NASDAQ: EEFT) is a global leader in processing secure electronic financial and payment transactions. The company operates through three main segments: EFT Processing, epay, and Money Transfer. Euronet provides its services to a wide range of clients including financial institutions, mobile operators, merchants, and money transfer sending and receiving agents.
In the EFT Processing segment, Euronet manages one of the largest independent ATM networks in Europe and the largest shared ATM network in India. The company generates revenue from ATM management fees and currency conversion transactions, providing convenience and accessibility to customers.
The epay segment focuses on electronic distribution of prepaid mobile airtime and other prepaid products. Euronet is recognized as the world's largest processor of prepaid mobile airtime, serving a vast global market.
The Money Transfer segment continues to grow, making Euronet the third-largest global money transfer company. The company facilitates secure and efficient money transfers across various countries, ensuring reliable service for users worldwide.
Euronet's proprietary software offers comprehensive solutions tailored to leading financial institutions around the globe. Its technology enhances the capabilities of financial services, supporting eCommerce transactions and more.
With extensive operations across the United States, Europe, the Middle East, and Asia-Pacific, Euronet effectively caters to both emerging and established markets. Recent achievements include expanding their IAD ATM network to 32 European countries and 38 countries globally, and acquiring 800 ATMs in Malaysia, solidifying its position as the largest non-bank ATM operator in the country.
Latest News:
- The company’s IAD ATM network footprint now includes 32 countries in Europe and 38 countries globally.
- Euronet reports the following consolidated results for the full year 2023 compared with the same period of 2022.
- Technology addition to bolster the capabilities of Euronet’s Ren payments platform with issuing and acquirer processing of eCommerce transactions.
- A comprehensive offering will be available to the companies’ combined customer base of more than 285,000 merchants as well as the broader Greek market.
- Euronet will acquire about 800 ATMs, making it the largest non-bank ATM terminal operator in Malaysia. For more information, please visit www.paynet.my.
With a commitment to secure and efficient electronic payment solutions, Euronet Worldwide Inc continues to lead and innovate in the financial transaction processing industry.
Ria Money Transfer, a subsidiary of Euronet (NASDAQ: EEFT), has announced a strategic partnership with Tenpay Global, Tencent's cross-border payment platform. The collaboration enables users worldwide to send money from Ria's digital and physical channels directly to Weixin Pay wallets and linked bank accounts in China.
China, one of the top three remittance-receiving countries with inflows of US$50 billion in 2023, will now be accessible through Ria's network of over 595,000 locations across nearly 200 countries. This partnership expands Ria's mobile network reach to 3.1 billion wallet accounts globally, allowing Weixin Pay users in China to receive remittances for various purposes including transfers, top-ups, and shopping.
Euronet Worldwide (NASDAQ: EEFT) has successfully amended and expanded its unsecured revolving credit facility from $1.25 billion to $1.90 billion, extending the maturity date by five years to December 17, 2029. The amended facility includes a $1.685 billion multi-currency tranche and a $215 million USD tranche, with the removal of credit spread adjustment on SOFR and SONIA borrowings. The company secured continued support from existing banking partners and welcomed new ones, aiming to maintain double-digit growth rates and enhance shareholder value.
Euronet (NASDAQ: EEFT) has announced an agreement with Swedbank to acquire its ATM assets and provide ATM outsourcing services in Lithuania, Estonia and Latvia. The acquisition includes 1,141 ATMs across the three Baltic countries (373 in Estonia, 362 in Latvia, and 406 in Lithuania), comprising both cash withdrawal and deposit/recycling machines.
The migration will commence in fall 2025, with Euronet integrating the ATMs into its independent ATM network while maintaining Swedbank's branding. The deal aims to optimize operations, reduce costs, and enhance services while ensuring business continuity. The acquired network will be integrated with Euronet's Ren payments processing platform, maintaining the same interface for Swedbank customers.
Euronet (NASDAQ: EEFT) has appointed Brad Sprong to its Board of Directors, effective December 4, 2024, expanding the board from 10 to 11 members. Sprong, who recently retired after a 38-year career at KPMG where he served as Managing Partner of the National Private Enterprise division, brings extensive financial experience to the board. During his tenure at KPMG, he guided clients across various industries through transformations, regulatory changes, turnarounds, and growth periods. Sprong holds a Bachelor of Science degree from William Jewell College in Liberty, Missouri.
Euronet Worldwide (NASDAQ: EEFT) reports strong Q3 2024 financial results with revenues of $1,099.3 million, up 9% year-over-year. Operating income increased 9% to $182.2 million, while net income reached $151.5 million. The company achieved adjusted earnings per share of $3.03, an 11% increase from $2.72 in Q3 2023. All three segments - EFT Processing, epay, and Money Transfer - showed growth, with notable performance in digital transactions and ATM operations. The company maintains its 2024 adjusted EPS growth guidance of 10-15% and projects similar growth for 2025.
Euronet (NASDAQ: EEFT) has announced the release date and conference call details for its third quarter 2024 earnings. The company will release its earnings results before the market opens on Thursday, October 24, 2024. A conference call to discuss the results will be held on the same day at 9:00 a.m. Eastern Time.
Interested parties can access the conference call and accompanying slide show presentation via webcast through the link provided on Euronet's investor relations website. Those wishing to join the call by telephone must register separately to receive dial-in information. Participants are advised to join the call five minutes before it begins. A webcast replay will be available approximately one hour after the event and will remain accessible for one year on the company's investor relations website.
Ria Money Transfer, a subsidiary of Euronet (NASDAQ: EEFT), has announced a new partnership with PLS Financial Services Inc. to become the exclusive provider of money transfer services at over 200 PLS Check Cashers locations across the United States. This collaboration will give PLS's three million monthly customers access to Ria's extensive network, including 4.1 billion bank accounts, 2 billion mobile wallet accounts, and nearly 600,000 cash pickup locations in 198 countries.
The partnership aims to meet the growing demand for competitive and affordable money transfer services, particularly for immigrants with family overseas. The United States, being the largest source of remittances globally, sends significant funds to countries like India ($15.8 billion), Mexico ($52.6 billion), and the Philippines ($12.8 billion) annually. This collaboration is expected to provide a customer-centric, safe, convenient, and economical transaction experience for U.S. consumers.
Euronet Worldwide (NASDAQ: EEFT) reported strong Q2 2024 financial results, with revenues increasing 5% to $986.2 million and adjusted earnings per share rising 11% to $2.25. The company saw improvements across all segments, with EFT Processing showing particularly strong growth. Key highlights include:
- Operating income up 10% to $134.3 million
- Adjusted EBITDA increased 7% to $178.2 million
- Net income of $83.1 million, or $1.73 diluted EPS
- Strong cash position with $2,067.4 million in total cash and cash equivalents
Euronet remains confident in achieving its full-year 2024 adjusted EPS growth target of 10-15%. The company's performance was driven by business expansion, product portfolio growth, and continued investment in technology across all segments.
Euronet (NASDAQ: EEFT) announced that it will release its second quarter 2024 earnings results on July 19, 2024, before market opening.
A conference call to discuss the results will be held on the same day at 9:00 a.m. Eastern Time. The call and accompanying slides will be accessible via webcast through Euronet's investor relations website.
Participants must register to receive dial-in information for accessing the call by telephone. It is recommended to join the call five minutes prior to the start. A replay of the webcast will be available from approximately one hour after the event and will be accessible for one year on the company's website.
On June 19, 2024, Euronet (NASDAQ: EEFT) announced a partnership with Onnipro, a subsidiary of Onnitech Group in Sao Paulo, Brazil. The collaboration involves leveraging Euronet's Ren payments platform to expand Onnipro's card issuing capabilities, enabling support for Visa and Mastercard networks under a multi-year agreement. Serving over 12 million customers, Onnipro aims to transition from issuing closed-loop Elo cards to open-loop programs, enhancing its market position and service offerings. Ren's scalable and flexible platform will streamline Onnipro's operations and accelerate its market growth.
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