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 reported first-quarter 2022 revenue of $150.2 million, an 8% increase from $139.5 million in the previous year. GAAP net income was $38.9 million, or $0.53 per diluted share, marking a $3.4 million increase. Adjusted EBITDA rose 9% to $75.4 million with a margin of 50.2%. The company plans to repurchase up to $129 million in shares and expects 2022 revenues between $597 million and $605 million, representing a growth of 1% to 3%. However, adjusted earnings per share are projected to decline by 5% to 8% compared to 2021.
EVERTEC, Inc. (NYSE: EVTC) announced a quarterly dividend of $0.05 per share, declared on April 21, 2022, with a payment date of June 3, 2022, to stockholders of record by May 2, 2022. The Board of Directors anticipates regular future dividends, contingent on business needs and market conditions. EVERTEC is a prominent transaction processing firm in Puerto Rico and Latin America, processing over three billion transactions annually, providing various payment services and technology outsourcing across 26 countries.
EVERTEC, Inc. (NYSE: EVTC) will host a conference call on April 28, 2022, at 4:30 p.m. ET to discuss its first quarter financial results. The call will feature CEO Mac Schuessler and CFO Joaquin Castrillo. A press release with detailed financial metrics will be issued shortly after market close on the same day. Interested parties can access the call live via phone or webcast, with a replay available until May 5, 2022.
Evertec, Inc. (NYSE: EVTC) has announced a strategic agreement with Banco Popular de Puerto Rico (NASDAQ: BPOP) to extend key commercial agreements. This includes a 10-year extension of the Merchant Acquiring ISO Agreement, a 5-year extension of the ATH Network Participation Agreement, and a 3-year extension of the Master Services Agreement. Additionally, Evertec will sell certain assets to BPPR for approximately $197 million, payable in Evertec stock. Post-transaction, Evertec aims to enhance flexibility for growth opportunities, no longer being classified as a subsidiary of Popular.
EVERTEC, Inc. (NYSE: EVTC) has signed a share purchase agreement to acquire 100% of BBR SpA, a Chile-based payment solutions company, for CLP 48,600 million (approximately USD 60 million). This acquisition enhances EVERTEC's technology portfolio in Chile and facilitates entry into the Peruvian market, expanding its regional footprint. The transaction is subject to customary closing conditions, including regulatory approval, which may impact the timing of completion.
Evertec announced strong results for Q4 and full year 2021, with revenue increasing by 16% to $155.2 million in Q4 and $589.8 million for the year. GAAP net income rose 27% in Q4 to $41.1 million and 54% for the year to $161.1 million. Adjusted EBITDA also saw significant growth, up 19% in Q4 and 23% annually, reaching $75.9 million and $294.8 million, respectively. The company expanded its relationship with Popular and acquired BBR, SpA in Chile. A share repurchase authorization was increased to $150 million. The 2022 outlook projects revenue of $591-$600 million but sees a potential decline in adjusted earnings per share.
EVERTEC, Inc. (NYSE: EVTC) declared a quarterly dividend of $0.05 per share on February 15, 2022. This dividend is scheduled for payment on March 25, 2022, to stockholders on record as of February 25, 2022. The Board of Directors plans to continue declaring dividends regularly, although future payments will depend on business performance and market conditions.
EVERTEC, Inc. (NYSE: EVTC) announced a conference call scheduled for February 24, 2022 at 4:30 p.m. ET to discuss its fourth quarter 2021 financial results. The call will feature CEO Mac Schuessler and CFO Joaquin Castrillo, with a press release detailing the financial results to be released after market close on the same day. The call can be accessed via phone or live webcast through the company's website.
As a leading transaction processing business in Puerto Rico and Latin America, EVERTEC operates the ATH® network, processing approximately three billion transactions annually.
EVERTEC, Inc. (NYSE: EVTC) has awarded over 170 scholarships amounting to more than $185,000 to university students in Puerto Rico and Latin America, promoting gender equity in STEM. The initiative maintains equal participation for men and women for the second consecutive year, aligning with the company's commitment to diversity and inclusion. Over its seven-year program, EVERTEC has granted 690 scholarships totaling over $870,000, aiming to develop a skilled workforce in the region.
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