Euronet Worldwide (EEFT) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached $1.15 billion, up 4% year-over-year, with adjusted EPS of $3.62, up 19% year-over-year, and operating income of $195 million, up 7% year-over-year.

• Net income attributable to shareholders was $122 million, down 19% year-over-year, while adjusted EBITDA rose 8% to $244.6 million.

• Revenue growth was below expectations due to macroeconomic and immigration policy headwinds, but digital expansion, business model diversity, and new partnerships supported resilience.

• Closed a $1 billion convertible bond at 0.625% interest, maturing in 2030, to strengthen the balance sheet and support growth initiatives.

• Advanced digital and AI initiatives, including partnerships with Fireblocks (stablecoin technology) and Citigroup (cross-border payments), and progressed toward the CoreCard acquisition.

Financial highlights

• Adjusted EBITDA was $244.6 million (+8% YoY); operating income $195 million (+7% YoY); adjusted EPS $3.62 (+19% YoY).

• Unrestricted cash at quarter-end was $1,172.5 million; total debt $2,305.3 million.

• Share repurchases totaled 1.3 million shares in Q3 2025, with a long-term average of 85% of annual earnings returned to shareholders.

• Gross margin improved in Money Transfer and epay segments; Q3 gross margin: EFT 52.5%, epay 24.5%, Money Transfer 47.9%.

• Total debt to trailing twelve month adjusted EBITDA improved to 3.1x; net debt to adjusted EBITDA at 1.5x.

Outlook and guidance

• Full-year adjusted EPS growth guidance reaffirmed at 12%-16%, with Q4 earnings growth expected to be similar to Q3.

• Management expects continued growth in digital and international money transfer transactions, supported by new product launches and acquisitions.

• Guidance excludes potential impacts from foreign exchange, interest rates, or unforeseen factors.

• Capital expenditures for 2025 are estimated at $120–$130 million, focused on ATM and POS expansion.