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.
Overview
Evertec Inc serves as a comprehensive transaction processing enterprise in Latin America and the Caribbean, offering secure and efficient transaction processing and payment processing solutions that underpin the electronic payments ecosystem. With operations spanning multiple Latin American countries, Evertec delivers a robust network that is essential for processing millions of transactions through its advanced, mission-critical technology platform.
Core Business Areas and Service Offerings
Evertec has built a diversified portfolio of services that not only supports the day-to-day operations of banks and merchants but also bolsters the financial infrastructure of entire regions. The company’s service suite includes:
- Merchant Acquiring: Providing essential payment acceptance solutions that facilitate secure credit, debit, and PIN-based transactions.
- Payment Processing: Operating sophisticated electronic payment networks that ensure transaction integrity and security.
- Core Banking and Cash Processing: Delivering vital back-end processing systems that enable efficient management of cash and core banking operations.
- Technology Outsourcing and Business Solutions: Offering comprehensive technology services that support operational efficiency for financial institutions and large organizations.
Operational Excellence and Technological Integration
Evertec is distinguished by its ability to merge high-tech solutions with everyday financial operations. Its innovative ATH network is one of the foremost personal identification number (PIN) debit networks in Latin America, ensuring a secure and reliable processing environment for customers. The company’s integrated technology solutions are designed to meet the rigorous demands of modern financial transactions, offering enhanced security, reliability, and efficiency across a spectrum of services. This integration of technology and service delivery is achieved through highly scalable systems that minimize downtime and ensure uninterrupted service for critical financial operations.
Market Position and Competitive Landscape
In a market where secure transaction processing is vital, Evertec has secured a strategic position by consistently providing reliable services to a diverse array of clients. It operates in a competitive environment that includes multiple regional and international players. The company differentiates itself through its comprehensive service offerings, deep local market expertise and commitment to technological innovation. Its ability to serve a wide range of client needs—from large financial institutions to government agencies—ensures a diversified revenue structure and reinforces its market credibility.
Customer Base and Geographic Reach
Evertec caters to a broad spectrum of customers including major financial institutions, prominent merchants, multinational corporations, and government agencies. This diversified customer base not only strengthens its operational stability but also provides a unique insight into the regional market dynamics. Operating from its base in Puerto Rico and extending its reach to numerous Latin American countries, Evertec is well positioned to offer tailored solutions that address the specific challenges and regulatory environments of various markets.
Expertise, Experience, and Reliability
The company reinforces its expertise by leveraging years of experience in transaction technology, which is critical for maintaining the integrity and efficiency of payment processing. Evertec’s commitment to security and innovation is evident in its adoption of industry best practices and state-of-the-art technology, ensuring that it meets the evolving demands of global financial services. Every aspect of its business is designed to enhance trust with clients, underpinned by a resilient technological backbone and a dedicated team of professionals well-versed in transaction management and financial operations.
Strategic Business Model and Operational Resilience
Evertec's business model is focused on providing scalable, secure and compliant solutions that address the operational challenges of electronic transactions. By integrating a spectrum of services from merchant acquiring to technology outsourcing, the company creates a comprehensive ecosystem that supports the entire payment lifecycle. The strategic use of advanced processing technology and a widespread operational footprint across Latin America allows Evertec to respond adeptly to market demands and regulatory changes, ensuring stability and continuity in its service offerings. The company’s systematic approach to deploying secure financial technologies demonstrates an in-depth understanding of the intricate relationship between technology, regulation, and operational risk management.
Conclusion
In summary, Evertec Inc stands as a robust transaction processing business with a broad range of services that support the financial infrastructures of Latin America and the Caribbean. Its focus on secure and efficient payment processing, coupled with a diverse array of business solutions, firmly establishes its operational importance and market stability. Whether through its innovative ATH network or its comprehensive suite of technological services, Evertec continues to play a pivotal role in enabling secure and streamlined financial transactions, making it an integral component of the regional financial services ecosystem.
EVERTEC (NYSE: EVTC) has appointed Alberto López Gaffney as Executive Vice President of Corporate Development, effective March 20. With over 25 years of experience, López Gaffney has a strong background in financial management and mergers & acquisitions, particularly in Latin America. He previously served as CFO of Despegar.com and held senior roles at ITAU BBA and Morgan Stanley. His appointment aims to enhance Evertec's growth strategies. The company is a leading transaction processing business in Puerto Rico and Latin America, managing over six billion transactions annually and offering comprehensive banking and payment services.
EVERTEC, Inc. (NYSE: EVTC) has acquired 100% of paySmart Pagamentos Eletronicos Ltda for R$130 million (approximately USD $25 million). This transaction is pivotal for EVERTEC, as it strengthens its issuer processing and BIN sponsorship services in Brazil, a key market for growth. The CEO, Mac Schuessler, emphasized that this acquisition accelerates their expansion in Brazil and enhances their current service offerings. EVERTEC operates extensively in transaction processing across Puerto Rico, the Caribbean, and Latin America, processing over three billion transactions annually.
EVERTEC, Inc. (NYSE: EVTC) reported a 4% revenue increase to $161.8 million for Q4 2022, and a 5% growth to $618.4 million for the full year. GAAP net income for Q4 was $28.7 million ($0.44/share), down from $41.1 million ($0.56/share) the previous year. Adjusted EBITDA decreased 10% to $68.4 million, with an adjusted net income decline of 19%. The company returned $110 million to shareholders through stock repurchases and dividends. For 2023, EVERTEC anticipates revenue between $638 million and $647 million and adjusted earnings per share between $2.53 and $2.64.
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
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