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NCR CORPORATION

(NCR)
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NCR : Cardtronics shareholders approve NCR's acquisition, reports Q1 2021 revenue loss, earnings gain

05/07/2021 | 05:07pm EDT

Cardtronics shareholders have approved the company's previously announced agreement to be acquired by NCR Corp., and it is expected to close in mid 2021, according to a press release.

NCR announced its bidto acquire Cardtronics for $1.7 billion, or $39 per share on Jan. 11, 2021.

In light of the pending transaction, Cardtronics is not holding quarterly earnings conference calls but is issuing the following quarterly earnings information:

  • Total revenues fell 12.6% from $306.6 million in Q1 2020 to $267.8 million for the quarter ending March 31, 2021, and down 15.2% on a constant-currency basis.
  • Growth in the core U.S. business was offset by declines in other regions, especially in the U.K. and Canada, which were heavily impacted by pandemic-related social restrictions.
  • ATM operating revenues fell 12.6% from $291.8 million in Q1 2020 to $255.0 million in Q1 2021, and down 15.1% on a constant-currency basis. U.S. same-store withdrawals increased 6% in Q1 2021 over Q1 2020 and were up 5% over Q1 2019.
  • GAAP net income rose from $5.8 million in Q1 2020 to $5.9 million, or 13 cents per diluted share, the same as in Q1 2020.
  • Adjusted net income per diluted share was 42 cents, in line with the prior year.
  • The $267.83 million in revenue surpassed analyst expectations by 1.17% and the 42-cent EPS beat expectations by 21 cents, according to Zacks.
  • Shares traded at $38.99 today against a 52-week range of $16.67-$42.
  • The company signed an ATM service agreement for over 300 ATMs with MAPCO, a convenience store chain throughout the southeastern U.S.
  • The company also expanded a branding relationship with Keybank for approximately 50 ATMs at Kum & Go locations in Colorado, is adding approximately 50 ATMs at CVS Pharmacy locations in Hawaii, and added six new partners to the Allpoint+ cash deposit network during Q1 2021.

Copyright © 2021 Networld Media. All rights reserved., source Industry News

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Financials (USD)
Sales 2021 6 661 M - -
Net income 2021 - - -
Net Debt 2021 2 873 M - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 5 830 M 5 830 M -
EV / Sales 2021 1,31x
EV / Sales 2022 1,19x
Nbr of Employees 36 000
Free-Float 96,4%
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Technical analysis trends NCR CORPORATION
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Mean consensus BUY
Number of Analysts 8
Last Close Price 44,54 $
Average target price 52,63 $
Spread / Average Target 18,2%
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Managers and Directors
Michael Dale Hayford President, Chief Executive Officer & Director
Timothy Charles Oliver Chief Financial Officer & Executive Vice President
Frank R. Martire Executive Chairman
William T. VanCuren Chief Information Officer & Senior Vice President
Tim Vanderham Chief Technology Officer & Senior Vice President
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