Business
Euronet Worldwide Reports Fourth Quarter and Full Year 2021 Financial Results
The Company currently expects 2022 full year earnings to be similar to those of the pre-COVID year 2019, despite the lingering effects from the Omicron
About this update from Euronet Worldwide, Inc.
[{"type":"text","content":"The Company currently expects 2022 full year earnings to be similar to those of the pre-COVID year 2019, despite the lingering effects from the Omicron variant\nLEAWOOD, Kan., Feb. 09, 2022 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading electronic payments provider, reports fourth quarter and full year 2021 financial results. Euronet reports the following consolidated results for the fourth quarter 2021 compared with the same period of 2020: Revenues of $811.5 million, a 15% increase from $706.6 million (18% increase on a constant currency1 basis).Operating income of $29.0 million, a 42% decrease from $50.2 million (38% decrease on a constant currency basis).Adjusted operating income2 of $67.6 million (excluding a $38.6 million contract asset impairment), a 33% increase from $50.8 million (which excluded a $0.6 million impairment of acquired intangible assets) (38% increase on a constant currency basis).Adjusted EBITDA3 of $112.9 million, a 23% increase from $91.9 million (27% increase on a constant currency basis).Net loss attributable to Euronet of ($3.1) million or ($0.06) diluted loss per share, compared with net income of $70.2 million or $1.31 diluted earnings per share.Adjusted earnings per share4 of $1.15, a 4% increase from $1.11.Euronet's cash and cash equivalents was $1,260.5 million and ATM cash was $543.4 million, totaling $1,803.9 million as of December 31, 2021, and availability under its revolving credit facilities was approximately $690 million. Euronet reports the following consolidated results for the full year 2021 compared with the same period of 2020: Revenues of $2,995.5 million, a 21% increase from $2,482.7 million (18% increase on a constant currency1 basis).Operating income of $184.0 million, a 295% increase from $46.6 million (284% increase on a constant currency basis).Adjusted operating income2 $222.6 million (excluding a $38.6 million contract asset impairment), a 45% increase from $153.2 million (excluding $106.6 million impairment of goodwill and acquired intangible assets) (42% increase on a constant currency basis).Adjusted EBITDA3 of $395.0 million, a 31% increase from $302.2 million (28% increase on a constant currency basis).Net income attributable to Euronet of $70.7 million or $1.32 diluted income per share, compared with net loss of ($3.4...