The following is a summary of the EVERTEC, Inc. (EVTC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• EVERTEC reported Q1 total revenue of $205 million, a 28% increase from last year's first quarter.

• Adjusted EBITDA stood at $78.2 million, up by 16% compared to last year, but adjusted EBITDA margin decreased to 38.1% due to the Sinqia contribution.

• Adjusted EPS increased by 4% to $0.72, and operating cash flow for the quarter was $36 million.

• Revenue across all segments in Puerto Rico showed growth, with Payments Puerto Rico growing by about 10%, Merchant Acquiring by around 7%, and Business Solutions up by approximately 4%.

• Raised revenue outlook for the year to a range of $846 million to $854 million, expecting growth of about 22% to 23% over last year.

Business Progress:

• The integration of Sinqia is progressing well, focusing on technology modernization and customer-centric initiatives, and Sinqia is expected to play a key role in their Latin American expansion.

• Plan to optimize margins and efficiencies, expecting some margin pressure due to success in Latin America.

• Fiscal strategy includes repricing for contract profitability, investing in current platforms, and expanding tech spending and demand in Brazil.

• EVERTEC's M&A strategy is centered on potential tuck-in deals in Latin America, and it plans to continue investing in Sinqia and other potential targets.

More details: Evertec IR

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