Euronet Worldwide, Inc. (NASDAQ: EEFT) has just released its financial results for the fourth quarter and full year of 2024, showcasing record-breaking performance across various financial metrics. Let's dive into the numbers to understand the company's impressive growth.
In the fourth quarter of 2024 compared to the same period in 2023, Euronet reported a 9% increase in revenues, reaching $1,047.3 million, and a substantial 26% rise in operating income to $122.7 million. Adjusted operating income also saw a significant surge of 23%, amounting to $122.7 million. The company's adjusted EBITDA for the same period rose by 12% to $165.8 million.
However, the net income attributable to Euronet saw a decline, dropping to $45.2 million from $69.3 million in the fourth quarter of 2023. Adjusted earnings per share, on the other hand, increased by 10% to $2.08.
Moving to the full year 2024, Euronet's revenues climbed 8% to $3,989.8 million, while operating income soared by 16% to $503.2 million. The adjusted operating income also increased by 16% to $502.8 million, and adjusted EBITDA experienced a 10% growth, reaching $678.5 million. Despite the drop in net income attributable to Euronet to $306.0 million from $279.7 million in 2023, the adjusted earnings per share surged by 15% to $8.61.
The company's EFT processing segment witnessed substantial growth in the fourth quarter of 2024, with revenues increasing by 12% to $265.6 million and operating income jumping by 46% to $37.3 million. The segment's full-year revenues also saw a 10% increase to $1,161.2 million, accompanied by a 24% surge in operating income to $256.0 million.
In the epay segment, Euronet reported an 8% growth in revenues to $342.2 million in the fourth quarter of 2024, and a 6% increase to $1,150.5 million for the full year.
The money transfer segment also displayed positive results, with a 9% increase in revenues to $441.9 million in the fourth quarter and an 8% increase to $1,686.5 million for the full year of 2024.
Looking at the company's financial position, Euronet's unrestricted cash and cash equivalents as of December 31, 2024, stood at $1,278.8 million, while total indebtedness was reported at $1,949.8 million.
Moreover, the company provided its outlook for 2025, anticipating a 12% to 16% year-over-year growth in adjusted earnings per share, consistent with its 10 and 20-year compounded annualized growth rates.
With such robust financial performance and optimistic outlook, Euronet Worldwide, Inc. has demonstrated a strong position in the global payments processing and cross-border transactions market. As a result of these announcements, the company's shares have moved 11.7% on the market, and are now trading at a price of $105.45. If you want to know more, read the company's complete 8-K report here.
