EVERTEC, Inc. (NYSE:EVTC) Q4 2022 Results Conference Call February 22, 2023 4:30 PM ET
Company Participants
Kevin Hunt - IR
Mac Schuessler - President and CEO
Joaquin Castrillo - CFO
Conference Call Participants
Bob Napoli - William Blair
James Faucette - Morgan Stanley
Madison Suhr - Raymond James
James Friedman - Susquehanna
Operator
Good afternoon, everyone, and welcome to EVERTEC's Fourth Quarter and Full Year 2022 Conference Call. Today's conference call is being recorded.
At this time, I would like to turn the call over to Kevin Hunt of Investor Relations. Please go ahead.
Kevin Hunt
Thank you, and good afternoon. With me today are Mac Schuessler, our President and Chief Executive Officer; and Joaquin Castrillo, our Chief Financial Officer.
Before we begin, I would like to remind everyone that this call may contain forward-looking statements and should be considered in conjunction with cautionary statements contained in our earnings release and the Company's most recent periodic SEC report. During today's call, management will provide certain information that will constitute non-GAAP financial measures under SEC rules, such as adjusted EBITDA, adjusted net income and adjusted earnings per common share. Reconciliations to GAAP measures and certain additional information are also included in today's earnings release and related supplemental slides, which are available in the Investor Relations section of our company website at www.evertecinc.com.
I'll now hand over the call to Mac.
Mac Schuessler
Thanks, Kevin, and good afternoon, everyone.
We are pleased to announce strong fourth quarter and full year results, especially against the backdrop of more difficult comparisons because of federal funds that positively impacted the prior year. I will start today's call with a summary of our financial results and business highlights for 2022. Next, I will move to a discussion of our Puerto Rico results and current environment, followed by a discussion of our Latin America businesses and conclude with some areas of focus for EVERTEC in 2023. I will then turn the call over to Joaquin, who will provide some additional details on our Q4 and full year results as well as our outlook for 2023.
Beginning on Slide 4. Let's start with some highlights from our 2022 results. We delivered a record $618 million in revenue for the year, a 5% increase over prior year, exceeding our expectations despite some growth headwinds in the second half of the year following the completion of the Popular transaction. We finished the year strong with fourth quarter revenue of $162 million, a 4% year-over-year increase. Our LatAm revenue growth of 23% in the fourth quarter and 21% for the year was particularly encouraging.