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AI brief of an SEC Form 8-K · EVERTEC (EVTC)

EVERTEC Q1 revenue rises 28% to $205.3 million, but GAAP profit falls 47%

Mixed Impact 3 of 5 earnings Written later

EVERTEC reported first-quarter 2024 results on May 1, 2024. Revenue rose 28% to $205.3 million, reflecting the Sinqia acquisition and organic growth, while GAAP net income attributable to common shareholders fell 47% to $16.0 million, mainly due to higher interest expense on debt raised to finance Sinqia. The company also entered into a $70 million accelerated share repurchase agreement, which it expects to complete in the third quarter of 2024.

Key points

  • Revenue rose 28% to $205.3 million from $159.8 million in the prior-year quarter.
  • GAAP net income attributable to common shareholders fell 47% to $16.0 million, or $0.24 per diluted share.
  • Adjusted EBITDA rose 16% to $78.2 million, and adjusted earnings per share rose 4% to $0.72.
  • 2024 outlook: total revenue of $846 million to $854 million and adjusted earnings per share of $2.85 to $2.94.

The filing

CompanyEVERTEC (EVTC)
Form8-K, current report
Filed with the SECMay 1, 2024, 4:07 PM ET
Accession number0001559865-24-000024

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:55 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 01, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.