Euronet Worldwide(EEFT) - 2024 Q2 - Quarterly Results

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]