Business
Euronet Worldwide Reports Year-over-Year Double Digit Revenue and Operating Income Growth Supported by Strong Results From All Three Segments
LEAWOOD, Kan., Oct. 20, 2022 (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, 2022 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading electronic payments provider, reports third quarter 2022 financial results. Euronet reports the following consolidated results for the third quarter 2022 compared with the same period of 2021: Revenues of $931.3 million, a 14% increase from $816.6 million (27% increase on a constant currency1 basis).Operating income of $168.5 million, a 47% increase from $114.5 million (71% increase on a constant currency basis).Adjusted EBITDA2 of $211.6 million, a 36% increase from $155.2 million (57% increase on a constant currency basis).Net income attributable to Euronet of $97.7 million, or $1.87 diluted earnings per share, compared with $73.9 million, or $1.37 diluted earnings per share.Adjusted earnings per share3 of $2.74, a 55% increase from $1.77.Euronet's cash and cash equivalents were $967.1 million and ATM cash was $646.1 million, totaling $1,613.2 million as of September 30, 2022, and availability under its revolving credit facilities was approximately $650 million. See the reconciliation of non-GAAP items in the attached financial schedules. \"I am very pleased that we delivered year-over-year double-digit constant currency revenue, operating income and adjusted EBITDA growth in all three segments, resulting in our fifth consecutive quarter of double-digit constant currency consolidated revenue and adjusted EBITDA growth rates,\" stated Michael J. Brown, Euronet's Chairman and CEO. \"All of our segments have demonstrated their resilience. In the EFT Segment, we saw our most profitable transactions recovering consistent with the recovery of international travel. In Money Transfer, we saw continued growth in both our physical and digital distribution networks, which included particular strength in Asia Pacific as the region continues to recover following the easing of COVID-19 restrictions. Finally, in epay, we saw continued demand for our content sold through both physical and digital channels.\" \"Despite challenging macroeconomic trends throughout the year, we have continued to see the resiliency of all three of our business segments. We have a strategy and a strong balance sheet, as well as a geographic and product diverse business, that has historically allowed us to produce strong growth rates, even ...