Wednesday, August 15, 2018

EVERTEC posts 10% growth in 2nd quarter

By on August 1, 2018

SAN JUAN – Puerto Rico-based transaction processor EVERTEC Inc. said Tuesday that its results for the second quarter, ended June 30, included a 10% revenue growth, to $113.3 million compared with $103.5 million last year.

The company said revenue growth in the quarter reflected the impact of the acquisition of PayGroup as well as “elevated sales volumes in Puerto Rico driven by post-hurricane recovery activity, federal relief and benefit programs and insurance proceeds.”

“We are pleased with our second quarter financial results and given our expectation for the remainder of the year, we have increased our 2018 guidance,” Mac Schuessler, president and CEO stated in the release.

The company manages a system of electronic payment networks that process more than two billion transactions annually and offers bank and cash processing services as well as and technology outsourcing. It also owns and operates the ATH network, a personal identification number debit network in 26 Latin American countries.

See an EVERTEC presentation of its financial results here.

A replay of the company’s conference call to discuss the results can be found on the investor relations website at ir.evertecinc.com.

 

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