EVERTEC, Inc. (NYSE:EVTC) Q2 2022 Earnings Conference Call August 4, 2022 4:30 PM ET
Company Participants
Kevin Hunt - IR
Mac Schuessler - President and CEO
Joaquin Castrillo - CFO
Conference Call Participants
Bob Napoli - William Blair
Vasu Govil - KBW
John Davis - Raymond James
Jeff Goldstein - Morgan Stanley
Jamie Friedman - Susquehanna
Operator
Good afternoon, everyone, and welcome to the EVERTEC Second Quarter 2022 Earnings Conference Call. Today's conference call is being recorded.
At this time, I would now like to turn the call over to Mr. 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. [Operator Instructions].
I'll now hand over the call to Mac.
Mac Schuessler
Thanks, Kevin, and good afternoon, everyone.
We are pleased with our second quarter results in both Puerto Rico and LatAm driven by strong revenue growth. Puerto Rico benefited from increased transaction volumes and onetime revenue while LatAm continues to benefit from organic transactional growth. We were also able to close both the Popular transaction and the BBR acquisition on July 1, in line with our previously announced expected timing, and I want to thank the whole team who worked tirelessly to get these transactions to completion.
On today's call, I will start with some highlights from the quarter, and then we'll turn it over to Joaquin, who will provide further details on our second quarter results, a review of the impact from the Popular transaction and an update to our outlook.
Beginning on Slide four. Total revenue was $161 million for the second quarter, an increase of approximately 8% compared to the second quarter of 2021. Adjusted EBITDA was $73 million, a decrease of approximately 9%; and adjusted earnings per share was $0.65, a decrease of approximately 17% from the prior year quarter.
During the quarter, we returned approximately $18 million to our shareholders through dividends and share repurchases, an increase of $14 million when compared with the prior year. Additionally, our liquidity remains strong at $404 million as of June 30. Moving to our Puerto Rico update on Slide five. Merchant Acquiring revenue increased slightly when compared with a year ago and in line with our expectations.
Last year's second quarter was heavily impacted by COVID stimulus that did not repeat in the current period, resulting in lower sales volume during the quarter. However, we were able to offset this headwind with select pricing actions. Payments - Puerto Rico benefited from increased POS transaction volumes, up 6% year-over-year as well as continued strong growth from ATH Movil and ATH Business and an increase in issuing services for Medicare health care providers in Puerto Rico.