Start Time: 09:00 January 1, 0000 10:02 AM ET

Euronet Worldwide, Inc. (NASDAQ:EEFT)
Q3 2024 Results Conference Call
October 24, 2024, 09:00 AM ET

Company Participants

Michael Brown - Chairman and CEO
Rick Weller - EVP and CFO
Kevin Caponecchi - EVP and CEO, epay, Software and EFT Asia Pacific Division
Adam Godderz - General Counsel

Conference Call Participants

Andrew Schmidt - Citigroup
Gus Gala - Monness, Crespi, Hardt & Co.
Peter Heckmann - DA Davidson
Cris Kennedy - William Blair

Operator

Good day, and thank you for standing by. Welcome to the Euronet Worldwide Third Quarter 2024 Earnings Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, General Counsel, Adam Godderz. Please go ahead.

Adam Godderz

Thank you, and good morning, everyone, and welcome to Euronet's third quarter 2024 earnings conference call today. On today's call, we have Mike Brown, our Chairman and CEO; as well as Rick Weller, our CFO.

Before we begin, I would like to call your attention to the forward-looking statements disclaimer on the second slide of the PowerPoint presentation we will be making today. Statements made on this call that concern Euronet or management's intentions, expectations, or predictions of future performance are forward-looking statements. Euronet's actual results may vary materially from those anticipated in these forward-looking statements as a result of a number of factors, including those listed on the second slide of our presentation. In addition, the PowerPoint presentation includes a reconciliation of the non-GAAP financial measures we'll be using during the call to their most comparable GAAP measures.

Now I'll turn the call over to our CFO, Rick Weller.

Rick Weller

Thanks, Adam. I will begin my comments on Slide 5. We delivered a record third quarter on all key consolidated financial metrics. We delivered revenue of 1.1 billion, operating income of 182 million, adjusted EBITDA of 226 million, and adjusted EPS of $3.03. Important to note, we did not include in the $3.03 adjusted EPS an additional $0.28 per share related to an investment gain. Had we included the $0.28, our adjusted EPS would have been $3.31.

Leading the way for this quarter results was EFT with double-digit constant currency operating income and adjusted EBITDA growth. Money Transfer delivered constant dollar third quarter revenue growth of 10%, operating income growth of 7%, and adjusted EBITDA growth of 4% compared to the prior year third quarter. epay delivered double-digit revenue and transaction growth.