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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 (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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