Stoneco Ltd. - STNE STOCK NEWS

StoneCo (Nasdaq: STNE, B3: STOC31) has announced that it will release its second quarter 2024 financial results on August 14th, 2024, after market close. The company will host a conference call to discuss these results at 5:00pm ET (6:00pm BRT) on the same day.

Investors can access the conference call via Zoom webinar or by phone from various countries. A live webcast and replay will be available on Stone's investor relations website. The company will enter its Quiet Period related to Q2 2024 financial results on July 24th, 2024.

StoneCo (Nasdaq: STNE) announced the results of its Early Tender Deadline for its 3.950% Senior Notes due 2028. 58.91% of the outstanding $500 million principal amount ($294,558,000) was tendered by the July 15, 2024 deadline. The Tender Offer and Consent Solicitation will expire on July 30, 2024. Holders who tendered by the Early Tender Deadline are eligible for the Total Consideration, including the Early Tender Consideration.

The company received the Requisite Consents to amend the indenture, eliminating most restrictive covenants and allowing for debtor substitution. Payment for all accepted Notes is expected around July 31, 2024. The company will pay a $2.50 soliciting broker fee per $1,000 principal amount for retail brokers with clients tendering $250,000 or less.

StoneCo (Nasdaq: STNE) has initiated a cash tender offer to purchase its outstanding 3.950% senior notes due 2028, totaling $500 million. The offer includes a consent solicitation for amendments to the indenture governing the notes, aiming to eliminate restrictive covenants and allow a substituted debtor. The tender offer provides a total consideration of $880 per $1,000 principal if tendered by July 15, 2024, with an early tender consideration of $30. The offer expires on July 30, 2024, with early and final settlement dates expected around July 17 and July 31, respectively. Withdrawals and consent revocations are allowed until July 15, 2024. Payment includes accrued interest, and broker fees apply under specific conditions. The offer's completion is subject to certain conditions described in the solicitation statement.

StoneCo (Nasdaq: STNE) reported a strong first quarter for 2024, with adjusted net income reaching R$450 million, marking a 90% increase year-over-year. The company achieved a total revenue of R$3.1 billion, up 14% from the same period last year. Adjusted EBT rose by 75% to R$568 million, with an 18.4% margin. Financial services revenue grew by 16% to R$2.7 billion, supported by a 24% increase in Total Payment Volume (TPV) for SMEs. The SME customer base expanded by 33%, now totaling 3.7 million active clients. Additionally, the banking platform saw a 53% rise in deposits, reaching R$6 billion. On the software front, revenue increased by 3%, with Adjusted EBITDA climbing to R$66 million. CEO Pedro Zinner highlighted the company's strategic growth and robust profitability.

StoneCo (Nasdaq: STNE) reported strong financial results for Q1 2024, with Adjusted EBT reaching R$568 million, marking a 75% year-over-year increase. Adjusted net income rose by 90% to R$450 million. Total revenue and income grew 13.8% year-over-year to R$3,084.9 million, driven by a 16% rise in financial services revenues. The company's MSMB segment showed significant growth, with a 23.8% year-over-year increase in TPV. StoneCo's banking and credit solutions also performed well, with the active banking client base increasing by 13.5% quarter over quarter. However, there were some sequential declines in metrics such as TPV and EBITDA due to seasonal factors. Overall, the company remains confident in achieving its 2024 and 2027 guidance targets.

StoneCo will announce its first quarter 2024 financial results on May 13, 2024, and implement a new internal accounting policy for membership fee revenues. The policy change will not impact the 2024 guidance, cash position, or cash flow generation. The company expects a reduction in transaction revenues and an increase in deferred revenue liabilities due to the new policy.

StoneCo (Nasdaq: STNE, B3: STOC31) reported impressive growth in 4Q23, with a 20.1% increase in total revenue, reaching R$3.2 billion. The company's adjusted EBT of R$638 million saw a 131.6% surge compared to the previous year. The MSMB customer base grew by 37.4%, reaching nearly 3.5 million active customers. StoneCo also achieved a 24.4% growth in financial services revenue, driven by MSMB clients.

StoneCo announces a planned transition within the Board of Directors, with founder Mr. André Street not seeking re-election, along with Vice Chairman and another director. The proposal is to appoint new Chairman and Vice-Chairman. The transition follows a strong financial year in 2023, with record-breaking results and a clear strategy unveiled at Investor Day. The new appointees are chosen based on their skillset and experience, ensuring a smooth transition. The departing members are praised for their contributions, and the company looks forward to the next phase of growth.

StoneCo reports a strong quarter with Adjusted EBT reaching R$638 million, up 132% year over year, driven by accelerating MSMB TPV growth of 20%, resulting in Adjusted Net income of R$564 million, up 177% year over year. The CEO reflects on strategic progress, talent, execution capacity, and diversification efforts. Areas for improvement include operational efficiency and focus. Strategic adjustments include organizational restructuring, sharpening focus on key priorities, software business integration, leveraging payments, banking, and software, creating the Stone Platform, and cost management initiatives.