Euronet Worldwide (EEFT) Q4 2024 earnings summary

Executive summary

• Achieved record consolidated revenue and profit for both Q4 and full year 2024, with double-digit growth across all key financial metrics and all business segments contributing to performance.

• Adjusted EPS grew 10% year-over-year in Q4, exceeding consensus estimates, and would have been higher without FX headwinds.

• Expanded Merchant Services business, entered new markets, and formed strategic partnerships, including with PLS Financial Services.

• Business model is diversified, with less reliance on ATM revenue and strong growth in digital, cross-border, and branded content segments.

• Improved profit margins and maintained a strong pipeline of opportunities in each segment.

Financial highlights

• Q4 2024 revenue: $1,047.3M, up 9% year-over-year (10% constant currency); operating income: $123M, up 26%; adjusted EBITDA: $166M, up 12%; adjusted EPS: $2.08, up 10%.

• Full year 2024 revenue: $3,989.8M, up 8%; operating income: $503.2M, up 16%; adjusted EBITDA: $678.5M, up 10%; adjusted EPS: $8.61, up 15%.

• Nearly $65 million in free cash flow generated in Q4.

• Share repurchases of 500,000 shares in Q4 provided marginal EPS benefit for the quarter but will add 1% to future periods.

• Currency headwinds were modest, with low single-digit impacts on major currencies.

Outlook and guidance

• 2025 adjusted EPS growth guidance set at 12%-16%, including a one-time Q1 tax charge of $0.20-$0.25 per share related to convertible bond repurchase.

• Effective tax rate for 2025 expected in the upper 20s due to this non-recurring item.

• Management expects continued double-digit growth, with strong momentum and a robust pipeline across all segments.

• Positioned for long-term success with a strong strategy and key assets.

• Focus on sustainable growth, expanding into new markets, and leveraging technology investments.