Euronet Worldwide Reports Record Results for Q4 and Full Year 2024

Euronet Worldwide, a global leader in payments processing and cross-border transactions, has released its financial results for the fourth quarter and full year 2024. The company has reported record results across all financial metrics, showcasing significant growth and operational achievements.

Financial Highlights

For the fourth quarter of 2024, Euronet reported revenues of $1,047.3 million, marking a 9% increase from the same period in 2023. Operating income rose by 26% to $122.7 million, while adjusted EBITDA increased by 12% to $165.8 million. However, net income attributable to Euronet decreased to $45.2 million, or $0.98 diluted earnings per share, compared to $69.3 million, or $1.43 diluted earnings per share, in the fourth quarter of 2023. Adjusted earnings per share saw a 10% increase to $2.08.

For the full year 2024, revenues reached $3,989.8 million, an 8% increase from 2023. Operating income grew by 16% to $503.2 million, and adjusted EBITDA rose by 10% to $678.5 million. Net income attributable to Euronet was $306.0 million, or $6.45 diluted earnings per share, compared to $279.7 million, or $5.50 diluted earnings per share, in 2023. Adjusted earnings per share increased by 15% to $8.61.

Business and Operational Highlights

The EFT Processing Segment reported a 12% increase in revenues for the fourth quarter, driven by international travel, growth in merchant acquiring business, and expansion into new markets. The segment also saw a 35% increase in transactions to 3,203 million and a 5% increase in installed ATMs to 55,248.

The epay Segment achieved an 8% increase in revenues for the fourth quarter, with a 31% increase in transactions to 1,185 million. The Money Transfer Segment reported a 9% increase in revenues, with total transactions rising by 11% to 46.9 million.

Strategic Initiatives and Corporate Developments

Euronet has been actively managing its debt, with total indebtedness decreasing to $1,949.8 million as of December 31, 2024, from $2,278.8 million as of September 30, 2024. The company also repurchased $50 million in shares during the quarter. Availability under its revolving credit facility increased to approximately $1,335 million, primarily due to an increase and extension of the credit facility in December 2024 from $1.25 billion to $1.90 billion.

Management's Perspective

Michael J. Brown, Euronet's Chairman and CEO, expressed satisfaction with the company's performance, highlighting the 15% growth in adjusted EPS for the full year. He noted that the strong results were driven by robust performance across all three segments, despite significant increases in interest and tax expenses. Brown emphasized the company's ability to achieve double-digit growth in operating income and adjusted EBITDA.

Future Outlook

Looking ahead, Euronet anticipates its 2025 adjusted EPS to grow between 12% and 16% year-over-year, consistent with its 10 and 20-year compounded annualized growth rates. This outlook does not account for potential changes in foreign exchange rates, interest rates, or other unforeseen factors.

SEC Filing: EURONET WORLDWIDE, INC. [ EEFT ] - 8-K - Feb. 13, 2025