Bank / Credit Union

NCR sees revenue boost in Q3 results

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October 29, 2021

NCR Corp. reported a revenue of $1.90 billion, up by 20% in its Q3 results ending Sept. 30. The banking sector saw the largest increase of 35%, according to a press release.

The third quarter adjusted earnings before interest, taxes, depreciation and amortization increased to $352 million from $249 million last year. In addition, the company's cash flow from operating activities was $497 million compared to $212 million last year, and free cash flow was $125 million compared to $160 million last year. This decrease in free cash flow was caused by working capital changes period over period.

Other key findings in the results include:

• GAAP diluted EPS of $0.06.
• Non-GAAP diluted EPS of $0.69.
• Retail saw 1% decrease in revenue.
• Hospitality saw a 29% increase in revenue.

"We delivered solid results in the third quarter with strong growth in recurring revenue streams, higher profitability and consistent cash generation. Adjusted EBITDA expanded to a multi-year high of 18.5% and year-to-date we have generated over $350 million of free cash flow," Michael Hayford, CEO, NCR, said in the release. "More importantly, we made significant progress in the strategic initiatives that are transforming NCR into a software platform and payments company. Strong demand, diligent execution, and strategic traction should allow us to close out a successful 2021 and provide momentum for 2022. The integration of Cardtronics is well underway and we remain enthusiastic about the growth opportunities that the combination will yield."