Euronet Worldwide Reports First Quarter 2025 Financial Results - Highlighted by 18% Operating Income Growth

Core Insights - Euronet Worldwide, Inc. reported strong financial results for the first quarter of 2025, achieving double-digit constant currency growth in adjusted operating income and adjusted EBITDA, with an 18% increase in adjusted operating income compared to the previous year [4][5] - The company reaffirmed its expectation for 12% to 16% earnings growth for the year, citing a diversified global business model [5] Financial Performance - Total revenues reached $915.5 million, a 7% increase from $857.0 million (9% increase on a constant currency basis) [8] - Operating income was $75.2 million, an 18% increase from $64.0 million (22% increase on a constant currency basis) [8] - Adjusted EBITDA was $118.7 million, a 9% increase from $108.8 million (12% increase on a constant currency basis) [8] - Net income attributable to Euronet was $38.4 million, or $0.85 diluted earnings per share, compared to $26.2 million, or $0.55 diluted earnings per share [8][32] Segment Performance - The EFT Processing Segment reported revenues of $232.5 million, a 7% increase from $217.2 million (10% increase on a constant currency basis) [9] - The Money Transfer Segment experienced double-digit growth in cross-border transactions, with direct-to-consumer digital transactions growing by 31% [11] - The epay Segment's revenue growth was driven by continued payments and digital media growth, although operating income growth was impacted by a one-time tax resolution payment [10] Operational Highlights - Euronet expanded its ATM network to 55,512 installed ATMs, a 5% increase from the previous year [9] - The company launched operations in the Dominican Republic and Peru, contributing to transaction growth [10] - The company repurchased 0.6 million shares for $59.6 million during the first quarter, which is expected to improve future earnings per share by 1% [16] Balance Sheet and Financial Position - Unrestricted cash and cash equivalents increased to $1,393.6 million as of March 31, 2025, compared to $1,278.8 million at the end of 2024 [13] - Total indebtedness rose to $2,202.5 million as of March 31, 2025, from $1,949.8 million at the end of 2024 [13] - The company reported a decrease in corporate expenses to $20.0 million from $21.3 million year-over-year [12]