Evertec (NYSE: EVTC) reported Q4 EPS of $0.59, $0.05 better than the analyst estimate of $0.54. Revenue for the quarter came in at $134.2 million versus the consensus estimate of $133.44 million.

Fourth Quarter 2020 Highlights and Recent Highlights

• Revenue increased 6% to $134.2 million
• GAAP Net Income attributable to common shareholders was $32.3 million, or $0.44 per diluted share
• Adjusted EBITDA increased 16% to $63.9 million
• Adjusted earnings per common share was $0.59, or a 23% increase
• Launched Santander Chile and Citibanamex products
• Expanding in Mexico with Mercado Libre

Mac Schuessler, President and Chief Executive Officer stated “Despite the pandemic, we achieved record results for 2020 and delivered on significant key product implementations in Latin America for Santander Chile, Citibanamex and more recently with Mercado Libre in Mexico. We also benefited from increases in our ATH Movil and ATH Movil Business as consumers embraced a transition to digital transactions.

Schuessler continued, "Looking to 2021, we expect trends with consumers, merchants and banks to drive further digitized commerce. These industry tailwinds combined with our continued focus on innovation and market expansion in Latin America, will fuel our growth both this year and beyond."

GUIDANCE:

Evertec sees FY2021 EPS of $2.13-$2.23, versus the consensus of $2.28. Evertec sees FY2021 revenue of $533-544 million, versus the consensus of $536.17 million.

The Company financial outlook for 2021 is as follows:

• Total consolidated revenue between $533 million and $544 million representing growth of 4% to 7%
• Adjusted earnings per common share between $2.15 to $2.23 representing a growth range of 4% to 8% as compared to $2.07 in 2020
• Capital expenditures are anticipated to be approximately $50 million
• Effective tax rate of approximately 13%

For earnings history and earnings-related data on Evertec (EVTC) click here.