Business
StoneCo Reports Fourth Quarter and Fiscal Year 2023 Results
Strong quarter with Adjusted EBT reaching R$638 million, up 132% year over year, on accelerating MSMB TPV growth of 20%, resulting in Adjusted Net income of
About this update from Stoneco Ltd.
[{"type":"text","content":"Strong quarter with Adjusted EBT reaching R$638 million, up 132% year over year, on accelerating MSMB TPV growth of 20%, resulting in Adjusted Net income of R$564 million, up 177% year over year GEORGE TOWN, Grand Cayman, March 18, 2024 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE, B3: STOC31) (“Stone” or the “Company”) today reports its financial results for its fourth quarter and fiscal year ended December 31, 2023. “Dear Fellow Shareholders, I hope this message finds you in high spirits. As we wrap up a successful year, I want to express my profound gratitude for your support and investment in Stone. Reflecting on the past year, it is remarkable how well our company has performed. I am not only referring to our strong financial performance but also acknowledging the strategic milestones that have strengthened our position in the market and paved the way for future growth – as we detailed in our Investor Day. Unlike previous letters, the primary objective of this, and subsequent ones, is to reflect on our strategic progress and the effectiveness of capital allocation throughout the year. My intention is to articulate our ambitions for the coming years. I believe that these letters play a crucial role in offering a qualitative narrative that complements the quantitative results and outlines our prospects. The statements, both in this letter and those we will provide in the future, arise from drivers often challenging to quantify – specifically, the fundamental values that guide our company. This letter might also be longer than what you are used to, as it marks a special occasion. As I wrap up my first year as CEO, which followed a prior year as board member, I am keen to share the insights of this initial journey, delve into the financial results for 2023, outline our strategic vision for the upcoming years, and discuss the transition of our founder, Andre Street, from his role as chairman, as well as additional board changes. This transition is a significant moment for us, representing both a continuation of Andre’s legacy and a step towards new leadership horizons. Rights & Wrongs: The Views from an Outsider As you are aware, I became a part of StoneCo’s Board of Directors approximately two years ago. This initial contact with the company offered me a unique chance to see our operations from a high-level perspective. Now, ...