Euronet Worldwide, Inc. (EEFT - Free Report) delivered second-quarter 2019 earnings of $1.69 per share, in line with the Zacks Consensus Estimate. Meanwhile, the bottom line improved 28% year over year. This upside can mainly be attributed to higher revenue contribution by all segments.
The company’s reported net income soared 52.4% to $1.25 earnings per share in the quarter under review.
Its total revenues were $691.9 million, up 11% from the year-ago quarter. Meanwhile, the top line came matched the Zacks Consensus Estimate.
Euronet’s total transactions were 1.15 million, having increased 19% year over year.
Adjusted operating income rose nearly 29% to $116.6 million.
Segmental Update
EFT Processing Segment’s total revenues grew 19% (26% in constant currency) year over year to $231.9 million on the back of higher transactions and a rise in operated ATMs. Adjusted EBITDA amounted to $93 million, up 34% (42% at cc) from the year-ago period. Operating income for the segment was $76.5 million, up 45% year over year (up 53% on constant currency basis).
The epay Segment’s total revenues increased 11% year over year to $184.2 million (16% up on constant currency basis). Adjusted EBITDA amounted to $19.4 million, up 7% improvement from the year-earlier figure (12% up on constant currency basis). Operating income stands at $17.6 million, up 8% year over year (13% on constant currency basis). This segment reported transactions of 369 million, up 40% year over year.
The Money Transfer Segment’s total revenues climbed 6% (9% at cc) year over year to $276.8 million, backed by 7% higher transactions. Adjusted EBITDA amounted to $43.4 million, reflecting a 7% improvement (11% increase at cc) from the prior-year quarter. Operating income for this segment totaled $35.3 million, up 12% in constant currency. This segment reported total transactions of 28.9 million, up 7% year over year.
Corporate and other Segment reported an expense of $11.5 million for the reported quarter, flat with the 2018 second-quarter figure.
Q3 Guidance
Euronet expects adjusted earnings per share for the third quarter to be nearly $2.80 (assuming forex to be stable), better than the Zacks Consensus Estimate of $2.79.
Financial Update
Total assets at second-quarter end were $4.3 billion, up 30.5% from the level at year-end 2018.
Cash and cash equivalents improved nearly 47.8% to $1.6 billion from the figure at 2018 end.
The company’s total indebtedness surged 86% to $1096.7 million from the count as of 2018-end level.
Zacks Rank
Euronet carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases From Finance Sector
Among other players from the finance sector having reported second-quarter earnings so far, the bottom-line numbers of Synchrony Financial (SYF - Free Report) , RenaissanceRe Holdings Ltd. (RNR - Free Report) and Discover Financial Services (DFS - Free Report) outpaced the respective Zacks Consensus Estimate.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Euronet Worldwide, Inc. (EEFT - Free Report) delivered second-quarter 2019 earnings of $1.69 per share, in line with the Zacks Consensus Estimate. Meanwhile, the bottom line improved 28% year over year. This upside can mainly be attributed to higher revenue contribution by all segments.
The company’s reported net income soared 52.4% to $1.25 earnings per share in the quarter under review.
Its total revenues were $691.9 million, up 11% from the year-ago quarter. Meanwhile, the top line came matched the Zacks Consensus Estimate.
Euronet’s total transactions were 1.15 million, having increased 19% year over year.
Adjusted operating income rose nearly 29% to $116.6 million.
Segmental Update
EFT Processing Segment’s total revenues grew 19% (26% in constant currency) year over year to $231.9 million on the back of higher transactions and a rise in operated ATMs. Adjusted EBITDA amounted to $93 million, up 34% (42% at cc) from the year-ago period. Operating income for the segment was $76.5 million, up 45% year over year (up 53% on constant currency basis).
The epay Segment’s total revenues increased 11% year over year to $184.2 million (16% up on constant currency basis). Adjusted EBITDA amounted to $19.4 million, up 7% improvement from the year-earlier figure (12% up on constant currency basis). Operating income stands at $17.6 million, up 8% year over year (13% on constant currency basis). This segment reported transactions of 369 million, up 40% year over year.
The Money Transfer Segment’s total revenues climbed 6% (9% at cc) year over year to $276.8 million, backed by 7% higher transactions. Adjusted EBITDA amounted to $43.4 million, reflecting a 7% improvement (11% increase at cc) from the prior-year quarter. Operating income for this segment totaled $35.3 million, up 12% in constant currency. This segment reported total transactions of 28.9 million, up 7% year over year.
Corporate and other Segment reported an expense of $11.5 million for the reported quarter, flat with the 2018 second-quarter figure.
Q3 Guidance
Euronet expects adjusted earnings per share for the third quarter to be nearly $2.80 (assuming forex to be stable), better than the Zacks Consensus Estimate of $2.79.
Financial Update
Total assets at second-quarter end were $4.3 billion, up 30.5% from the level at year-end 2018.
Cash and cash equivalents improved nearly 47.8% to $1.6 billion from the figure at 2018 end.
The company’s total indebtedness surged 86% to $1096.7 million from the count as of 2018-end level.
Zacks Rank
Euronet carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases From Finance Sector
Among other players from the finance sector having reported second-quarter earnings so far, the bottom-line numbers of Synchrony Financial (SYF - Free Report) , RenaissanceRe Holdings Ltd. (RNR - Free Report) and Discover Financial Services (DFS - Free Report) outpaced the respective Zacks Consensus Estimate.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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