Business
Euronet Worldwide Reports Fourth Quarter and Full Year 2020 Financial Results
LEAWOOD, Kan., Feb. 09, 2021 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading electronic payments provider,
About this update from Euronet Worldwide, Inc.
[{"type":"text","content":"LEAWOOD, Kan., Feb. 09, 2021 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading electronic payments provider, reports fourth quarter and full year 2020 financial results. Euronet reports the following consolidated results for the fourth quarter 2020 compared with the same period of 2019: Revenues of $706.6 million, a 2% increase from $693.7 million (2% decrease on a constant currency1 basis).Operating income of $50.2 million, a 53% decrease from $107.2 million (56% decrease on a constant currency basis).Adjusted operating income2 of $50.8 million (excluding a $0.6 million impairment of acquired intangible assets), a 53% decrease from $107.2 million (56% decrease on a constant currency basis).Adjusted EBITDA3 of $91.9 million, a 35% decrease from $142.2 million (39% decrease on a constant currency basis).Net income attributable to Euronet of $70.2 million or $1.31 diluted earnings per share, compared with net income of $106.5 million or $1.91 diluted earnings per share.Adjusted earnings per share4 of $1.11, a 32% decrease from $1.63.Euronet's cash and cash equivalents was $1,420.3 million and ATM cash was $411.1 million, totaling $1,831.4 million as of December 31, 2020, and availability under its revolving credit facilities was approximately $670 million. Euronet reports the following consolidated results for the full year 2020 compared with the same period of 2019: Revenues of $2,482.7 million, a 10% decrease from $2,750.1 million (10% decrease on a constant currency1 basis).Operating income of $46.6 million, a 90% decrease from $475.2 million (91% decrease on a constant currency basis).Adjusted operating income2 $153.2 million (excluding a $106.6 million impairment of goodwill and acquired intangible assets), a 68% decrease from $473.9 million (excluding $1.3 million post-acquisition adjustment) (69% decrease on a constant currency basis).Adjusted EBITDA3 of $302.2 million, a 50% decrease from $607.1 million (51% decrease on a constant currency basis).Net loss attributable to Euronet of $3.4 million or $0.06 diluted loss per share, compared with net income of $346.8 million or $6.32 diluted earnings per share.Adjusted earnings per share4 of $2.82, a 60% decrease from $7.01. See the reconciliation of non-GAAP items in the attached financial schedules.“During a year when COVID-19 p...