Euronet Worldwide Inc - EEFT STOCK NEWS

Euronet Worldwide, Inc. (EEFT) reported first-quarter 2021 results with revenues of $652.7 million, reflecting a 12% year-over-year increase. However, operating income decreased by 67% to $10.4 million, while adjusted EBITDA dropped 24% to $52.2 million. The company incurred a net loss of $8.7 million, or $0.16 per share, compared to a net income of $1.9 million in Q1 2020. Cash and equivalents stood at $1,145.4 million, with significant ATM cash of $339.9 million. The company anticipates adjusted EBITDA for Q2 2021 to be between $75 million and $85 million.

Euronet USA announced a virtual presentation discussing challenges faced by financial institutions in joining global real-time payment (RTP) networks. Conducted by Forrester Consulting, the study surveyed over 300 banking professionals on barriers to connecting legacy systems to RTP networks, comparing internal resources versus RTP solutions partners, and assessing risks in joining RTP networks. The presentation, titled 'Payments at the Speed of Life,' will take place on April 29, 2021, featuring insights from industry experts. Registration is free, and a recording will be available post-event.

Euronet Worldwide, Inc. (NASDAQ: EEFT) will release its first quarter 2021 earnings results before the market opens on April 29, 2021. A conference call is scheduled for 9:00 a.m. Eastern Time on the same day to discuss the results. Participants can access the conference call via a webcast available on the company's investor relations website. Euronet is a notable financial technology solutions and payments provider, featuring a vast global network of ATMs, POS terminals, and money transfer locations.

Euronet Worldwide (NASDAQ: EEFT) announced a €300 million acquisition of Piraeus Bank's Merchant Acquiring business, enhancing its presence in Greece's payment processing market. This deal includes about 205,000 POS terminals and expands Euronet's technology-driven service offerings through a long-term partnership with Piraeus Bank. The acquisition is expected to generate $80 to $90 million in revenue and $15 to $20 million in EBITDA in its first year. The deal aligns with the rising demand for digital payments in Greece, projected to nearly double by 2031.

Ria Money Transfer, a subsidiary of Euronet Worldwide (NASDAQ: EEFT), has extended its sponsorship deal with Atlético de Madrid from 4 to 5 years. This partnership allows Ria to maintain its branding on the club's shirt until 2024, enhancing its global brand visibility. Ria aims to strengthen connections with Atlético's fanbase and promote financial inclusion through its remittance services. Celebrating this continuation, Ria will release a short film featuring Atlético players, highlighting the importance of sending money home. Ria's services play a crucial role in supporting families globally.

Euronet Worldwide reports Q4 2020 revenues of $706.6 million, a 2% increase year-over-year, but full-year revenues fell 10% to $2.48 billion. Operating income dropped 53% in Q4 to $50.2 million and 90% for the year to $46.6 million. Adjusted EBITDA for Q4 was $91.9 million, a 35% decline, with net income falling to $70.2 million or $1.31 per share, down from $106.5 million or $1.91 the previous year. Despite challenges from COVID-19, segments like Money Transfer and epay showed revenue growth. The company holds $1.83 billion in cash and aims for Q1 2021 adjusted EBITDA of $50-$60 million.

On February 8, 2021, Euronet Worldwide (NASDAQ: EEFT) announced agreements with eight banks in Spain, including Bankinter and Grupo Cajamar, to join its ATM Network Participation Program. This initiative allows these banks’ customers to access Euronet’s extensive ATM network, enhancing customer reach without capital expenditures. The program underscores Euronet's strategy of expanding its ATM network and providing banks with operational efficiency through its REV Payments Cloud. This development signifies a commitment to modernizing payment solutions and improving consumer access to cash services across Spain.

Euronet Worldwide (NASDAQ: EEFT) reported that its ATM screens helped locate eight missing persons in 2020 through active alerts. This initiative, in collaboration with AMBER Alert Europe, began in the Netherlands and expanded to four European countries, notably Spain, where 87 alerts generated 458 calls to authorities. The program sparked significant public interest, leading to over 100 million interactions across media platforms. Euronet aims to extend this collaboration further, enhancing community support through its extensive ATM network.

Euronet Worldwide (EEFT) will announce its fourth quarter and full year 2020 earnings results on February 10, 2021, before the market opens. A conference call is scheduled for the same day at 9:00 a.m. ET to discuss these results. The call will be accessible through a webcast and by telephone. As a leading financial technology provider, Euronet offers various payment and transaction processing solutions globally, managing 43,956 ATMs and 324,000 EFT POS terminals across 61 countries. More details can be found on their website.