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Euronet's (EEFT) Q2 Earnings, Revenues In Line With Estimates
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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.
Euronet Worldwide, Inc. Price, Consensus and EPS Surprise
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.
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.
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Euronet's (EEFT) Q2 Earnings, Revenues In Line With Estimates
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.
Euronet Worldwide, Inc. Price, Consensus and EPS Surprise
Euronet Worldwide, Inc. price-consensus-eps-surprise-chart | Euronet Worldwide, Inc. Quote
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 >>