Euronet Worldwide (EEFT) Q2 FY2024 earnings: revenue $986 million, up 5.0% on the year

Euronet Worldwide, Inc. (EEFT) reported revenue of $986 million for Q2 FY2024, the quarter ended 30 June 2024, up 5.0% on the same quarter a year earlier. Net income was $83 million, down 3.5% on the year, and diluted earnings per share $1.73. The figures are the company's own, from the 10-Q it filed with the SEC on 2 August 2024.

Revenue$986 millionup 5.0%

Net income$83 milliondown 3.5%

Diluted EPS$1.73

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	986	857	n/a	n/a
Selling, general and administrative	79.4	71.9	n/a	n/a
Operating income	134	64.0	n/a	n/a
Operating margin	13.6%	7.5%	n/a
Interest expense	20.1	14.9	n/a	n/a
Pre-tax income	122	42.2	n/a	n/a
Income tax	39.2	16.0	n/a	n/a
Effective tax rate	32.0%	37.9%	n/a
Net income	83.1	26.2	n/a	n/a
Net margin	8.4%	3.1%	n/a
Diluted EPS	$1.73	$0.55	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	182	30.0	n/a	n/a
Capital expenditure	33.4	23.8	n/a	n/a
Free cash flow	149	6.2	n/a	n/a
Free cash flow margin	15.1%	0.7%	n/a
Cash from investing	-58.4	-96.8	n/a	n/a
Cash from financing	223	81.3	n/a	n/a
Depreciation and amortisation	33.7	32.7	n/a	n/a
Share-based compensation	10.2	12.5	n/a	n/a
Diluted shares, weighted	49m	49m	n/a	n/a
Shares outstanding at period end	45m	46m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	1,214	1,244	n/a	n/a
Non-controlling interest	-0.1	-0.2	n/a	n/a
Debt	2,266	1,934	n/a	n/a
Operating lease liabilities	97.2	97.7	n/a	n/a
Other liabilities	2,484	2,418	n/a	n/a
Total liabilities and equity	6,061	5,694	n/a	n/a
Fixed assets	331	324	n/a	n/a
Goodwill	878	849	n/a	n/a
Intangible assets	201	209	n/a	n/a
Cash and equivalents	1,272	1,236	n/a	n/a
Receivables	428	408	n/a	n/a
Other assets	2,952	2,668	n/a	n/a
Total assets	6,061	5,694	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,004	958	857	986	1,099	1,047	916	1,074	1,146	1,109	1,012	1,108
SG&A	73.9	72.4	71.9	79.4	80.6	83.4	83.0	87.8	84.6	117	92.6	98.4
Operating income	167	97.4	64.0	134	182	123	75.2	159	195	101	72.0	137
Operating margin	17%	10%	7%	14%	17%	12%	8%	15%	17%	9%	7%	12%
Interest expense	15.0	16.5	14.9	20.1	24.2	21.3	19.4	28.2	22.5	14.4	14.1	20.6
Pre-tax income	147	97.9	42.2	122	208	75.9	45.5	131	180	91.2	66.3	124
Tax rate	29%	29%	38%	32%	27%	40%	16%	26%	31%	43%	44%	38%
Net income	104	69.3	26.2	83.1	152	45.2	38.4	97.6	122	51.5	37.5	77.4
Net margin	10%	7%	3%	8%	14%	4%	4%	9%	11%	5%	4%	7%
Diluted EPS	$2.05	$1.43	$0.55	$1.73	$3.21	$0.98	$0.85	$2.27	$2.75	$1.08	$0.83	$1.71
Operating cash flow	287	136	30.0	182	440	80.3	1.7	183	197	178	-122	148
Capital expenditure	27.2	25.3	23.8	33.4	25.8	34.2	23.4	34.6	36.1	31.6	28.5	36.1
Free cash flow	260	110	6.2	149	414	46.1	-21.7	148	161	146	-150	112
Shares outstanding	46m	46m	46m	45m	44m	44m	43m	41m	42m	39m	38m	37m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 2 August 2024, accession 0001213900-24-064727: the filing on EDGAR. All of Euronet Worldwide, Inc.'s filings: EDGAR company page.

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