Business
Euronet Worldwide Reports Third Quarter 2021 Financial Results
LEAWOOD, Kan., Oct. 20, 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., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading electronic payments provider, reports third quarter 2021 financial results. Euronet reports the following consolidated results for the third quarter 2021 compared with the same period of 2020: Revenues of $816.6 million, a 23% increase from $664.4 million (22% increase on a constant currency1 basis).Operating income of $114.5 million, a 73% increase from $66.1 million (72% increase on a constant currency basis).Adjusted operating income2 of $114.5 million, a 69% increase from $67.6 million (68% increase on a constant currency basis). Adjusted EBITDA3 of $155.2 million, a 48% increase from $105.0 million (47% increase on a constant currency basis).Net income attributable to Euronet of $73.9 million, or $1.37 diluted earnings per share, compared with net income of $40.2 million, or $0.76 diluted earnings per share.Adjusted earnings per share4 of $1.77, a 58% increase from $1.12Euronet's cash and cash equivalents were $1,048.5 million and ATM cash was $669.7 million, totaling $1,718 million as of September 30, 2021, and availability under its revolving credit facilities was approximately $920 million. See the reconciliation of non-GAAP items in the attached financial schedules. \"I am extremely pleased that we were able to deliver a very good third quarter where revenue exceeded our third quarter 2019 revenue and where earnings nicely exceeded our expectations as we benefitted from a strong improvement in global travel as borders reopened,\" stated Michael J. Brown, Euronet's Chairman and CEO. \"Our EFT transactions rebounded in line with the increase in European travel patterns. epay delivered its fifth consecutive quarter of double-digit earnings growth from continued strength in both mobile and digital media content delivered through digital distribution. And, money transfer continued to deliver strong growth rates in U.S. and Europe outbound and direct-to-consumer digital transactions. Moreover, we continued to make significant advances in digital product and distributions powered by our cutting-edge REN technology platform.\" The stronger than expected third quarter results were largely driven by an immediate improvement in EFT transactions from travelers who were quick to resume their travel plans as...