Feb. 17, 2017
E-payments provider Euronet Worldwide Inc. held its first earnings call of 2017 last week, reporting both 2016 full-year financial results and consolidated results for Q4 2016 compared with the same period in 2015.
Results for Q4 were as follows:
- revenues of $519.8 million, up 10 percent from $470.6 million (13 percent on a constant currency basis);
- operating income of $58.1 million, up 5 percent from $55.2 million (5 percent in constant currency);
- adjusted EBITDA of $83.3 million, up 8 percent from $76.9 million (9 percent in constant currency);
- net income attributable to Euronet of $28.9 million or 54 cents diluted EPS, compared with net income of $33.5 million, or 61 cents diluted EPS;
- adjusted earnings per share of 99 cents, up 8 percent from 92 cents; and
- transactions of 881 million, up 17 percent from 754 million.
Euronet reported the following consolidated results for the full year 2016 compared with 2015:
- revenues of $1.96 billion, up 11 percent from $1.77 billion (13 percent in constant currency);
- operating income of $249.8 million, up 22 percent from $204.9 million (22 percent in constant currency);
- adjusted EBITDA of $345.2 million, up 20 percent from $287.7 million (21 percent in constant currency);
- net income attributable to Euronet of $174.4 million, or $3.23 diluted EPS, compared with net income of $98.8 million, or $1.83 diluted EPS;
- adjusted earnings per share of $4.02, up 21 percent from $3.32; and
- 3,261 million transactions, up 11 percent from 2,927 million.
"I am pleased to report double-digit consolidated revenue growth in the fourth quarter with all three segments contributing to the growth," Euronet Chairman and CEO Michael J. Brown said in the call. "Money transfer continued their momentum delivering strong growth across all metrics. Epay delivered solid results led by good sales of nonmobile content in its seasonally strongest quarter, and EFT deployed record levels of high-value ATMs in the fourth quarter and delivered strong revenue and transaction growth despite cash limitations in India. …
"All segments contributed to the earnings expansion through growth and year-over-year margin improvements by continuing to focus on adding more products to more devices across more markets.
"As we look forward, with 59 percent more ATMs than a year ago, the addition of more nonmobile content, continued double-digit organic growth across all aspects of our money transfer business, together with XE now fully live on our HiFX platform, we remain well positioned to repeat our history of strong earnings growth into 2017."