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) has been chosen as the issuer processor for a new Mastercard credit card by Caja Popular Mexicana (CPM), Mexico's largest savings and loans cooperative. This partnership aims to enhance payment flexibility for CPM's 3 million members through the Evertec PayStudio platform. The collaboration includes integrated fraud prevention with RiskCenter 360 and various value-added services to improve credit product management. This agreement reinforces Evertec's leadership in Latin America's transaction processing sector.
EVERTEC, Inc. (NYSE: EVTC) reported a 7% revenue increase to $145.9 million for Q3 2021, alongside a net income of $35.3 million or $0.48 per diluted share. However, Adjusted EBITDA dipped slightly to $69.8 million, resulting in a margin contraction. Year-to-date revenue rose 15% to $434.6 million, with net income at $120.0 million and an adjusted earnings per share of $2.02. The company raised its 2021 revenue outlook to between $574 million and $583 million.
Evertec, Inc. (NYSE: EVTC) announced a quarterly dividend of $0.05 per share, declared on October 21, 2021, and set for payment on December 3, 2021. Stockholders of record as of November 1, 2021 will receive this dividend. The Board of Directors plans to continue dividend declarations in the future, but these are subject to approval and may change based on business needs or market conditions. Evertec is a leading transaction processing company in Puerto Rico and Latin America, managing approximately three billion transactions annually.
EVERTEC (NYSE: EVTC) will host a conference call on October 27, 2021, at 4:30 p.m. ET to discuss its third quarter financial results. The call will feature Mac Schuessler, the President and CEO, and Joaquin Castrillo, the CFO. A press release with financial results will be issued post-market close on October 27. Investors can access the call by phone or via a live webcast on the Company’s website. EVERTEC is a leading transaction processing business in Puerto Rico and Latin America, operating the ATH® network and processing approximately three billion transactions annually.
Evertec (NYSE: EVTC) announced an upgrade to its issuer credit rating by S&P Global Ratings from 'B+' to 'BB-' with a stable outlook, reflecting its strong credit metrics and conservative balance sheet. S&P noted the company’s resilience amidst challenges, including the COVID-19 pandemic, and expects consistent performance over the next two years due to its solid market position in Puerto Rico and growth in Latin America. This rating follows a similar upgrade by Moody's, enhancing Evertec's financial credibility.
EVERTEC, Inc. (NYSE: EVTC) announced that Moody's Investors Services upgraded its corporate family credit rating from B2 to B1. This upgrade reflects anticipated revenue growth, excellent liquidity, and moderate leverage. Moody's noted Evertec's commitment to diversifying its business as a significant factor for the upgrade. CFO Joaquín Castrillo highlighted the upgrade as a recognition of the company's market position and balance sheet strength.
Evertec reported a robust second quarter for 2021, achieving a 26% increase in revenue to $149.1 million compared to the previous year. GAAP net income surged to $49.2 million, or $0.68 per diluted share, reflecting a significant recovery from prior year impacts of COVID-19. Adjusted EBITDA rose 60% to $80.3 million, with an impressive adjusted earnings per share of $0.78.
The company is optimistic, raising its full-year revenue guidance to between $570 million and $579 million, indicating a growth projection of 12% to 13%.
EVERTEC, Inc. (NYSE: EVTC) announced a regular quarterly dividend of $0.05 per share, to be paid on September 3, 2021, with a record date of August 2, 2021. The Board of Directors anticipates regular future dividends, although these are subject to approval and may be adjusted based on business needs or market conditions. EVERTEC, a leading transaction processing company in Puerto Rico and Latin America, offers a wide range of services including payment processing and technology outsourcing, handling approximately three billion transactions annually.
EVERTEC, Inc. (NYSE: EVTC) will host a conference call on August 3, 2021, at 4:30 p.m. ET to discuss its second quarter financial results. The call will be led by President and CEO Mac Schuessler and CFO Joaquin Castrillo. A press release detailing the financial results will be issued after market close on the same day. Interested parties can access the call by phone or via webcast on the company's investor relations website. EVERTEC provides transaction processing and business solutions throughout Puerto Rico, the Caribbean, and Latin America.
EVERTEC, Inc. (NYSE: EVTC) announced that CEO Mac Schuessler and CFO Joaquin Castrillo will present at the 41st Annual William Blair Growth Stock Conference on June 1, 2021, at 2:20 p.m. ET. The event will be available for live streaming via the company's investor relations website. EVERTEC is a prominent transaction processing company operating in Puerto Rico, the Caribbean, and Latin America, processing over two billion transactions annually and managing the ATH® network for PIN debit transactions.
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