Business
International Money Express, Inc. Announces Record Third Quarter 2020 Remittances, Revenue, Net Income, and Adjusted EBITDA
Third Quarter 2020 - Highlights Revenues of $95.6 million, an increase of 12.0% compared with the prior year periodNet Income of $9.5 million, an increase of
About this update from International Money Express, Inc.
[{"type":"text","content":"Third Quarter 2020 - Highlights\n Revenues of $95.6 million, an increase of 12.0% compared with the prior year periodNet Income of $9.5 million, an increase of 135.2% compared with the prior year period and EPS of $0.25, up 127.3%Adjusted Net Income and Adjusted EPS grew 28% to $12.2M and $0.32 per share, respectivelyAdjusted EBITDA of $19.1 million, an increase of 16.0% over the prior year periodNet Income noted above resulted in Free Cash Generated of $10.5 million, an increase of 78.8% over the prior year period MIAMI, Nov. 04, 2020 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading money remittance services company, today announced its financial results for the third quarter ended September 30, 2020 and will host a conference call to discuss those results at 8:30 am ET today. Intermex Chairman, Chief Executive Officer and President Robert Lisy commented, “The record financial results the Company delivered, coupled with market share gains in the third quarter of 2020 demonstrates the strength of our unique business model and differentiated service.” Mr. Lisy added, “Our brand resonates strongly with our agents and customers alike, in good economic times and even more importantly during these challenging times. Our unique strategy, brand, technology and service, work together in concert to create our “house of brick”. Intermex continues to generate peer-leading growth and profitability while delivering strong shareholder returns.” Third Quarter Financial ResultsIntermex delivered its best third quarter in the Company’s history with Revenues of $95.6 million, an increase of 12.0% over the prior year period. This increase in Revenues was supported by an 11.2% increase in customers to 2.2 million, driving the 12.8% growth in money transfer transactions to a record 8.5 million in the third quarter of 2020. Contributing to this growth in customers and transactions was the higher growth experienced in our newest African markets as well as continued growth in our existing LATAM markets. The Company reported Net Income of $9.5 million in the third quarter of 2020, an increase of 135.2% over the prior year period, and basic and diluted earnings per share in the third quarter of 2020 were $0.25, an increase of 127.3%, compared with the prior year period. These increases were due...