NCR Corp. (NCR) Misses Q4 EPS by 3c, Revenues Beat

NCR Corp. (NYSE: NCR) reported Q4 EPS of $0.59, $0.03 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $1.63 billion versus the consensus estimate of $1.62 billion.

• Full year cash flow from operations of $641 million; Full year free cash flow of $448 million
• Full year software and services revenue represents 72% of total revenue, up from 65% in 2019
• Fourth quarter recurring revenue up 6%; represents 54% of total revenue
• Fourth quarter cost actions achieve $150 million in savings in 2021
• Announced proposed transaction with Cardtronics

“Our fourth quarter results marked a solid finish to an unprecedented challenging year,” said Michael Hayford, President and Chief Executive Officer. “We achieved sequential operating performance improvement as we steadily adapted to conducting business in the current environment. We generated strong cash flow, increased recurring revenue and improved our cost structure. I am extremely proud of the NCR team as we continue to execute our strategy and expect to emerge from the pandemic a much stronger company. We enter 2021 with a strong financial position and are excited about the opportunity that the proposed transaction with Cardtronics is expected to bring. The proposed transaction accelerates our NCR-as-a-Service strategy and expands opportunities in payments, while further shifting NCR’s revenue mix to software, services and recurring revenue. We are positioning NCR to deliver increased value to customers and sustainable long-term value creation for stockholders.”

For earnings history and earnings-related data on NCR Corp. (NCR) click here.

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