Euronet Worldwide Reports Second Quarter 2023 Financial Results.

LEAWOOD, Kan: Euronet Worldwide, Inc. ("Euronet" or the "Company") (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, reports second quarter 2023 financial results.

Euronet reports the following consolidated results for the second quarter 2023 compared with the same period of 2022:

Revenues of $939.1 million, an 11% increase from $843.3 million (11% increase on a constant currency1 basis).

Operating income of $122.6 million, a 21% increase from $101.1 million (21% increase on a constant currency basis).

Adjusted operating income2 of $119.6 million, an 18% increase from $101.1 million (18% increase on a constant currency basis).

Adjusted EBITDA3 of $165.8 million, a 13% increase from $147.2 million (13% increase on a constant currency basis).

Net income attributable to Euronet of $86.1 million, or $1.65 diluted earnings per share, compared with $57.3 million, or $1.08 diluted earnings per share.

Adjusted earnings per share4 of $2.03, a 17% increase from $1.73.

Euronet's cash and cash equivalents were $1,139 million and ATM cash was $776 million, totaling $1,915 million as of June 30, 2023, and availability under its revolving credit facilities was approximately $1,055 million.

See the reconciliation of non-GAAP items in the attached financial schedules.

"I am pleased that we delivered record second quarter revenue, adjusted operating income, adjusted EBITDA, and adjusted EPS with double-digit increases in operating income from each segment," stated Michael J. Brown, Euronet's Chairman and CEO. "Money Transfer produced record second quarter results across all financial metrics, as well as nice margin expansion from continued growth in both physical and digital transactions and effective cost management. In EFT, we experienced a continued recovery of our most profitable transactions, and another strong quarter from our recently acquired point-of-sale ("POS") card acquiring business. In epay, we continued to see strong growth in content sold through both physical and digital channels, together with a nice benefit from promotional activity in the quarter. These growth trends in each segment resulted in our ninth consecutive quarter of consolidated, constant currency double-digit adjusted EBITDA growth rates."

Second quarter 2023 adjusted operating income, adjusted EBITDA and adjusted EPS exclude a non-cash gain in the EFT segment.

Taking into consideration recent trends in the business and the global economy...