EVERTEC, Inc. (NYSE:EVTC) Q1 2022 Results Conference Call April 28, 2022 4:30 PM ET
Company Participants
Kevin Hunt - Investor Relations
Mac Schuessler - President & Chief Executive Officer
Joaquin Castrillo - Chief Financial Officer
Conference Call Participants
Vasu Govil - KBW
Jamie Friedman - Susquehanna
Bob Napoli - William Blair
John Davis - Raymond James
Jeff Goldstein - Morgan Stanley
Operator
Good afternoon, everyone, and welcome to EVERTEC's First Quarter 2022 Earnings Conference Call. Today's conference call is being recorded.
And at this time, I would now like to turn the conference 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 achieved strong results in the first quarter, driven by payment volume growth in both Puerto Rico and Lat Am. We also continue to make progress towards closing the Popular transaction and the BBR acquisition, both announced on our last earnings call.
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 first quarter results as well as an update to our expectations for the rest of the year, which includes an increase in our guidance for 2022.
Beginning on Slide 4, total revenue was $150 million for the first quarter, an increase of 8% compared to the first quarter of 2021. Adjusted EBITDA was $75 million, an increase of 9%; and adjusted earnings per share was $0.70, an increase of 13% from the prior year quarter.
We generated significant operating cash flow of $70 million, and we returned approximately $25 million to our shareholders through dividends and the execution of share repurchases. Additionally, our liquidity remained strong at $403 million as of March 31.