Euronet Worldwide Inc. (NASDAQ:EEFT) Q2 2024 Earnings Conference Call July 19, 2024 9:00 AM ET Company Participants Michael Brown - Chairman, Chief Executive Officer Rick Weller - Executive Vice President, Chief Financial Officer Adam Godderz - General Counsel Conference Call Participants Andrew Schmidt - Citi Global Markets Pete Heckmann - DA Davidson Charles Nabhan - Stephens Daniel Krebs - Wolfe Research Ken Suchoski - Autonomous Research Mike Grondahl - Northland Securities Gus Gala - Monness, Crespi, ...

Core Insights - Euronet Worldwide reported revenue of $986.2 million for the quarter ended June 2024, which is a 5% increase year-over-year, but it fell short of the Zacks Consensus Estimate of $1.01 billion by 2.4% [1][3] - The company's EPS for the quarter was $2.25, an increase from $2.03 a year ago, but it did not deliver an EPS surprise against the consensus estimate [1][3] Revenue Breakdown - EFT Processing Segment revenue was $305.40 million, which is lower than the estimated $310.85 million, but represents an 8.1% increase year-over-year [5] - epay Segment revenue was reported at $260.90 million, below the average estimate of $280.25 million, reflecting a year-over-year decrease of 1.1% [5] - Money Transfer Segment revenue reached $421.80 million, slightly above the estimated $420.25 million, showing a year-over-year increase of 6.8% [5] Market Performance - Over the past month, Euronet Worldwide shares have returned -2.4%, contrasting with the Zacks S&P 500 composite's increase of 1.1% [6] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [6]

Financial Performance - Revenues for Q2 2024 were $986.2 million, a 5% increase from $939.1 million in Q2 2023, with a 6% increase on a constant currency basis[13] - Adjusted EBITDA for Q2 2024 was $178.2 million, a 7% increase from $165.8 million in Q2 2023, with a 10% increase on a constant currency basis[13] - Adjusted earnings per share for Q2 2024 were $2.25, an 11% increase from $2.03 in Q2 2023[13] - Revenue for Q2 2024 increased to $986.2 million, up 5% from $939.1 million in Q2 2023[37] - Net income attributable to Euronet Worldwide, Inc. for Q2 2024 was $83.1 million, compared to $86.1 million in Q2 2023[37] - Adjusted EBITDA for Q2 2024 was $178.2 million, up from $165.8 million in Q2 2023[45] - Adjusted earnings per share - diluted for Q2 2024 was $2.25, compared to $2.03 in Q2 2023[40] Cash and Debt - Unrestricted cash and cash equivalents increased to $1,271.8 million as of June 30, 2024, up from $1,236.2 million as of March 31, 2024, driven by cash from operations and short-term borrowings, partially offset by share repurchases and ATM acquisitions[1] - Total indebtedness increased to $2,270.2 million as of June 30, 2024, compared to $1,938.1 million as of March 31, 2024[29] Share Repurchases - The company repurchased 1 million shares for $114 million during Q2 2024, expected to improve future earnings per share by 2%[19] ATM and EFT Processing - Total installed ATMs reached 54,736 as of June 30, 2024, a 5% increase from 52,327 in the same period last year, including the acquisition of 800 ATMs in Malaysia[16][17] - The EFT Processing Segment reported revenues of $421.8 million in Q2 2024, a 7% increase from $394.8 million in Q2 2023, with an 8% increase on a constant currency basis[28] - Euronet's global payments network includes 54,736 installed ATMs and approximately 833,000 EFT POS terminals[44] Money Transfer Segment - Money Transfer Segment's direct-to-consumer digital transactions increased by 24%, representing 12% of total transactions[42] - Money Transfer volumes sent increased by 9% in Q2 2024 compared to the same period in 2023[42] - Euronet's global money transfer network serves 198 countries and territories through approximately 586,000 locations[44] Corporate and Other Expenses - Corporate and Other expenses decreased to $19.1 million in Q2 2024 from $20.5 million in Q2 2023[9] Prepaid Processing Network - The company's prepaid processing network consists of approximately 794,000 POS terminals at 352,000 retailer locations in 64 countries[44] Global Operations - Euronet's global payments network includes 54,736 installed ATMs and approximately 833,000 EFT POS terminals[44] - The company's prepaid processing network consists of approximately 794,000 POS terminals at 352,000 retailer locations in 64 countries[44] - Euronet's global money transfer network serves 198 countries and territories through approximately 586,000 locations[44] - The company operates from its corporate headquarters in Leawood, Kansas, USA, and 67 worldwide offices[44] Future Outlook - The company expects 2024 adjusted EPS to grow 10-15% year-over-year, consistent with its historical growth rates[8]

LEAWOOD, Kan., July 18, 2024 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. ("Euronet" or the "Company") (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, reports second quarter 2024 financial results. "I am pleased that we achieved a second quarter adjusted EPS of $2.25, an 11% increase over the prior year's $2.03," stated Michael J. Brown, Euronet's Chairman and Chief Executive Officer. "We were able to deliver this growth due to our continued focus on expanding our busin ...

Revenues of $986.2 million, a 5% increase from $939.1 million (6% increase on a constant currency1 basis). Operating income of $134.3 million, a 10% increase from $122.6 million (12% increase on a constant currency basis). Adjusted operating income2 of $134.3 million, a 12% increase from $119.6 million (15% increase on a constant currency basis). Adjusted EBITDA3 of $178.2 million, a 7% increase from $165.8 million (10% increase on a constant currency basis). Net income attributable to Euronet of $83.1 mill ...

LEAWOOD, Kan., July 09, 2024 (GLOBE NEWSWIRE) -- Euronet (NASDAQ: EEFT) announced today it will release second quarter 2024 earnings results prior to the market opening on Friday, July 19, 2024. Euronet will hold a conference call the same day at 9:00 a.m. Eastern Time to discuss the results. A webcast replay will be available beginning approximately one hour after the event at http://ir.euronetworldwide.com and will remain available for one year. Starting in Central Europe in 1994 and growing to a global r ...

The conference call and accompanying slide show presentation will be accessible via webcast by following the link posted on http://ir.euronetworldwide.com. Participants wanting to access the conference call by telephone must register at Euronet Worldwide Second Quarter 2024 Earnings Call to receive dial-in information. While not required, it is recommended participants join the call five minutes prior to the event start. About Euronet Worldwide, Inc. A leading global financial technology solutions and payme ...

Euronet Worldwide, Inc. (EEFT) is currently aided by strong segmental contribution, an enhanced payment solutions suite, acquisitions, and solid cash generation capabilities. Image Source: Zacks Investment Research Favorable Growth Prospects Earnings Surprise History Key Drivers The company believes there are many opportunities to expand in existing and new markets, posing this segment well for growth. EEFT expects to achieve $20 million in cost savings in 2024 leading to margin improvement in the remainder ...

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