Welcome to our dedicated page for EVERTEC news (Ticker: EVTC), a resource for investors and traders seeking the latest updates and insights on EVERTEC stock.
EVERTEC, Inc. (NYSE: EVTC) is a prominent full-service transaction processing company operating extensively across Latin America and the Caribbean. Based in Puerto Rico, EVERTEC provides a comprehensive suite of merchant acquiring, payment processing, and business solutions services that are vital to the operational success of various financial, government, and commercial entities.
At the core of EVERTEC's offerings is their management of robust electronic payment networks, processing over 2.1 billion transactions annually. This scale underscores the reliability and efficiency of their systems, which include core bank processing, cash processing, and technology outsourcing services. In addition, EVERTEC operates the ATH® network, one of the leading PIN debit networks in Latin America, further cementing their pivotal role in the region's financial infrastructure.
EVERTEC's business is divided into several segments:
- Merchant Acquiring: Providing essential services that enable businesses to accept credit and debit payments securely and efficiently.
- Payment Services - Puerto Rico & Caribbean: Focused on delivering comprehensive payment processing solutions tailored to the unique needs of clients in Puerto Rico and the Caribbean.
- Latin America Payments and Solutions: Expanding reach and providing customized payment solutions across 19 Latin American countries.
- Business Solutions: Offering mission-critical technology solutions that support the diverse operations of financial institutions, corporations, and government agencies.
EVERTEC's innovative solutions and extensive reach make it a key player in the financial technology sector. The company's recent achievements include expanding their service offerings and forming strategic partnerships, all while maintaining a strong financial position. This commitment to growth and excellence ensures EVERTEC remains at the forefront of transaction processing in the region.
EVERTEC, Inc. (NYSE: EVTC) declared a regular quarterly dividend of
EVERTEC, Inc. (NYSE: EVTC) will host a conference call on February 22, 2023, at 4:30 p.m. ET to review its fourth quarter financial results for 2022. This event will feature Mac Schuessler, President and CEO, and Joaquin Castrillo, CFO. A press release detailing the financial results will be issued shortly after market close on the same day. Participants can access the call at (888) 338-7153 or via webcast on the company’s official website. EVERTEC is a prominent transaction processing firm in Puerto Rico and Latin America, managing over three billion transactions annually with a diverse client base. For more information, visit www.evertecinc.com.
EVERTEC, Inc. (NYSE: EVTC) announced the successful refinancing of its credit facilities on December 1, 2022. The new agreements include a $200 million revolving credit facility and a $415 million term loan A, both maturing on December 1, 2027. Proceeds will refinance existing loans. The term loan's interest rate will be based on adjusted SOFR plus a spread that varies with the company’s leverage ratio. CFO Joaquin Castrillo expressed enthusiasm about the refinancing, highlighting expected flexibility for strategic initiatives, particularly M&A.
EVERTEC, Inc. reported its third-quarter results for 2022, with total revenue remaining flat at $145.8 million. The GAAP net income attributable to common shareholders was $137.8 million, or $2.06 per diluted share, boosted by a $135.6 million gain from the Popular transaction. Adjusted EBITDA fell 25% to $52.4 million, impacted by foreign currency remeasurement and rising operating costs. The outlook for 2022 anticipates total consolidated revenue between $607 million and $615 million, with adjusted earnings per share expected to decline 10-14% compared to 2021.
EVERTEC, Inc. (NYSE: EVTC) has declared a quarterly dividend of $0.05 per share on October 20, 2022, payable on December 2, 2022, to shareholders recorded by November 1, 2022. The Board anticipates future dividend declarations, subject to approval and potential adjustments based on business and market conditions. EVERTEC provides transaction processing services across Puerto Rico, the Caribbean, and Latin America, operating the ATH® network and processing over three billion transactions annually. The company serves a diverse clientele including financial institutions and government agencies.
EVERTEC, Inc. (NYSE: EVTC) is set to conduct a conference call and webcast on November 2, 2022, at 4:30 p.m. ET to discuss its third quarter financial results. The call will feature CEO Mac Schuessler and CFO Joaquin Castrillo. A press release with the financial results will be released shortly after market close on the same day. Investors can access the live call via phone or webcast through the company's website. Replays will be available until November 9, 2022.
EVERTEC (NYSE: EVTC) announced a donation of up to
Popular, Inc. (NASDAQ:BPOP) has successfully sold its remaining 7,065,634 shares of EVERTEC, Inc. (NYSE:EVTC). This includes 6,262,293 shares sold through an underwritten public offering, generating approximately
With an after-tax gain of around
EVERTEC, Inc. (NYSE: EVTC) has priced a secondary offering of 6,262,293 shares at $32.00 each, expected to close by August 15, 2022. The Selling Stockholder, Popular, Inc. (NASDAQ: BPOP), will net all proceeds from this sale, while EVERTEC itself will not receive any financial benefits. Concurrently, EVERTEC has agreed to repurchase $25 million worth of its shares from the Selling Stockholder post-offering. This move will likely lead to the Selling Stockholder divesting all equity in EVERTEC following the completion of this transaction.
EVERTEC has announced an underwritten secondary offering of 6,355,694 shares of common stock by Selling Stockholder Popular, Inc. The proceeds from this offering will go entirely to Popular, Inc., as EVERTEC will not sell any shares or receive any proceeds. Concurrently, EVERTEC will repurchase approximately $25 million of its common stock from Popular, Inc. This repurchase is subject to the offering’s completion but is not contingent on it. After the offering and repurchase, Popular, Inc. will no longer hold equity in EVERTEC.
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