Business
Intermex Reports Fourth-Quarter and Full Year Results
Operations drive double-digit increases in key financial measures Company to Host Conference Call Today at 9 a.m. ET MIAMI, March 08, 2023 (GLOBE NEWSWIRE) --
About this update from International Money Express, Inc.
[{"type":"text","content":"Operations drive double-digit increases in key financial measures Company to Host Conference Call Today at 9 a.m. ET MIAMI, March 08, 2023 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), one of the nation’s leading omnichannel money transfer services to Latin America, today reported strong growth for the fourth quarter and full year 2022. With double-digit increases in all of the Company’s full year key financial performance measures, the Company continues its track record of exceptional earnings growth as a public company. Financial performance highlights for the fourth quarter of 2022 compared with the same period last year are: Revenues of $154.4 million, an increase of 21.4%;Net Income of $13.1 million, a decrease of 0.5%;Diluted EPS of $0.35 per share, an increase of 6.1%;Adjusted Net Income of $17.6 million, an increase of 10.4%;Adjusted Diluted EPS of $0.46 per share, an increase of 15.0%; Adjusted EBITDA of $29.1 million, an increase of 22.4%; andNet Free Cash Generated of $13.7 million, an increase of 24.6%. Full Year 2022 – Highlights compared with the prior-year Revenues of $546.8 million, an increase of 19.1%;Net Income of $57.3 million, an increase of 22.4%;Diluted EPS of $1.48, an increase of 23.3%;Adjusted Net Income of $69.9 million, an increase of 21.6%;Adjusted Diluted EPS of $1.81, an increase of 23.1%;Adjusted EBITDA of $105.2 million, an increase of 21.4%; andNet Free Cash Generated of $59.6 million, an increase of 25.2%. “Intermex finished 2022 on a high note, again achieving double-digit revenue growth during the fourth quarter and setting a single-day record for the total number of wire transfers we completed for our customers during the Christmas holiday season,” said Bob Lisy, the Company’s chairman, chief executive officer and president. “The outstanding full-year and fourth quarter operating performance underscores the competitive advantage Intermex maintains as one of the world’s leading, omnichannel remittance service providers.” “We consistently outperform in our sector by staying laser focused on the fundamentals that drive our business,” Lisy said. “We are driving transaction growth with attractive margins through our growing network of retail locations and our digital app. Our unique, omni-channel strategy is resonating in our markets and creat...