Euronet Worldwide rallies 5% on double digit revenue and operating income growth

• Euronet Worldwide (EEFT) trades higher reporting Q3 revenue growth of 14% Y/Y to $931.3M, of which EFT Processing was 319.5M (+41% Y/Y); Epay 248.9M (+4% Y/Y) & Money Transfer of 364.9M (+3% Y/Y).
• Transactions: EFT Processing 1.73B (+48% Y/Y); Epay 915M (+13% Y/Y) & Money Transfer 37.7M (+11% Y/Y)
• Operating income of $168.5M, a 47% increase from $114.5M and a 71% increase on a constant currency basis.
• Adjusted EBITDA of $211.6M, a 36% increase from $155.2M and a 57% increase on a constant currency basis.
• Cash and equivalents were $967.1M and ATM cash was $646.1M, totalling $1,613.2M as of Sept. 30, 2022, and availability under its revolving credit facilities was ~$650M.
• Total indebtedness was $1.74B as of Sept. 30, 2022, compared to $2.09B as of June 30, 2022.
• Taking into consideration current trends in the business, the Co. anticipates that its Q4 2022 adjusted EBITDA will be in the range of ~$125-$135M.
• The Co. also remains confident that it will complete the FY 2022 with Adj. EPS in the anticipated range of $6.30-$6.40 vs. consensus of $6.24.
• "Despite challenging macroeconomic trends, 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.
• Previously: Euronet Non-GAAP EPS of $2.74 beats by $0.20, revenue of $931.3M beats by $8.62M (Oct. 21)