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Euronet Worldwide Posts Upbeat Q4 Earnings, Clocks 9% Transaction Volume Growth

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  • Euronet Worldwide, Inc. (NASDAQ: EEFTreported a 2% year-on-year revenue growth to $706.6 million in the fourth quarter of FY20, exceeding the analyst estimate of $655.75 million. The transaction volumes rose 9% during the quarter.
  • The EFT Processing segment revenue and EBITDA declined 48% and 99%, respectively, as the number of transactions rose 11% while the number of operational ATM fell 18%. The epay segment revenue and EBITDA increased 27% and 20%, respectively, as the transactions rose 61% and POS terminals rose 3%. The Money Transfer Segment revenue and EBITDA rose 18% and 32%, respectively, as the transactions increased 9%, and network locations rose 17%.
  • EBITDA declined 35% to $91.9 million.
  • Net income declined 34% to $70.2 million, and EPS declined 32% to $1.11 above the consensus estimate of $0.72.
  • Cash and equivalents stood at $1.4 billion and ATM cash at $411.1 million as of December 31, 2020. Euronet generated an operating cash flow of $50 million during the quarter.
  • EBITDA guidance for the first quarter of FY21 lies between $50 million and $60 million.
  • Last month, Citigroup analyst Andrew Schmidt upgraded Euronet Worldwide from Neutral to Buy with a $161 price target. 
  • Price action: EEFT shares closed higher by 1.3% at $139.62 yesterday.
 

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