EVTC - Earnings call 4 2023

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Operator

Good afternoon, everyone, and welcome to EVERTEC's Fourth Quarter 2023 Earnings Conference Call. [Operator Instructions] Today's conference call is being recorded.

At this time, I would like to turn the call over to Beatriz Brown-Saenz of Investor Relations. Please go ahead.

Beatriz Brown-Saenz

Thank you, and good afternoon. Mac Castrillo, President our are Officer; Chief today Joaquin and Chief me Schuessler, and our Executive With Financial Officer.

I contain should company's most begin, this in our with we would periodic and remind contained to Before the release everyone cautionary call statements may considered SEC forward-looking be and recent earnings statements in conjunction like that report.

additional release will available www.evertecinc.com. I information slides, our SEC are in adjusted adjusted will also related are provide at Matt. included Reconciliations measures website constitute now per in measures hand under will net share. of today's certain which section non-GAAP EBITDA, adjusted company and and that management earnings rules, information the the call, to as call today's Relations Investor and earnings During to supplemental common certain over income such financial GAAP

Morgan Schuessler

Thanks, Beatriz, everyone. good and afternoon,

record including announce across organic results pleased quarter. acquisitions, from complemented another revenue are markets, closed that strong most year We from to growth the during continues the deal, of fourth Sinqia contribution benefit the to as by

focus finally, XXXX comments today's an I our summary update of Rico our for as Joaquin, outlook Sinqia call a results for QX our results, I Brazil. some turn additional the followed a by on on And brief begin call well over discussion our environment, with about on will then financial Puerto XXXX. some who the in XXXX. will to details provide year will and as full

while expectations. growth by over of the revenue, We acquisition, on a increase in a year. excluding million highlights our closing our And record revenue, exceeded Beginning from full year start let's delivered the some XXXX was results. Slide also X, Sinqia, some the with XX% the driven of prior $XXX

teens, Lat M&A. revenue excluding high growth nearly the up with Our XX%, in Am was

payments expected, as Popular and in strong basis, with by EBITDA a growth XXXX. partially and Business up XX% was while compared XXXX, $XXX the completed modestly half grew driven the and was of both an ATH Móvil for mainly Rico reflecting increase sales the grew continued growth, Merchant in year full operating impact Business, Rico transaction X% segment approximately revenue volumes, our Merchant of year-over-year, due approximately segment and year-over-year, transaction Payments year-over-year our down on the Caribbean benefiting X%, in transaction sales segment. primarily initiatives. The increase, benefited the digital first from year, the Puerto Adjusted Solutions from from and the the Payments pricing year Acquiring Acquiring to Popular expenses. revenue Puerto Increased offset by million, approximately effect prior when volume

$XXX with for EPS continue up Adjusted quarter. million returned for and the flow, expectations. in approximately year In $XX we in significant million we million and operating our generate cash through $X.XX, XX% our year, dividends year-over-year share the including fourth cash repurchases, $XX.X significant the $XX to was approximately line million through to XXXX, shareholders, and

liquidity as $XXX XX. million, our December Additionally, at strong of remains

be supportive in past to EVERTEC, Puerto increasing to X Activity Slide X%, in Overall Puerto XXXX. for its with Index conditions Economic the highest stable, continues years. decade. Rico remained macro we to The Reaching as Turning the environment level over X. look Rico a

of highest the past XXXX. participation highest number average Well employed rate at is level above since rate, the at the X years, the XXXX. since and labor The the is of

offset funds. has the positively bank incremental remain the lack Additionally, are and labor international contributed the elevated, island. higher tourism as the of to pre-COVID-XX deposits individual arrivals Commercial above on Juan stimulus similar impacting San to pandemic in participation airport to levels, levels,

the coming into On Puerto about federal of sources prior spoken various calls, we Rico. stimulus, have

stimulus was individual of state COVID latest The X. highest Puerto when indicates to GDP, the Rico's data U.S. have approximately Turning the ratio any Slide XX% to in we that compared seen

funds to of still approximately is about amount have XX% that there received. only yet significant billion be has received. $XX.X a been $X.X Additionally, or reconstruction billion At pledged, the

electric to be pending With funds grid the being largest reconstruction the portion dispersed.

Slide we This As expected, biggest source in in X, XXXX, largely with sector. the relief are can should was remains approximately of inflow see in consistent on XXXX. Disaster funds federal billion $X what construction received benefit anticipated funds. the fund

Rico. Slide I highlight would sector X, on Puerto to Lastly, manufacturing the like in

in this boost recent has As years. segment seen a

moved Puerto strengthen have and slide, or the island in some we companies these forward. India economic broaden investments major expanded going operations U.S. from highlight the based either and companies into the base Rico, coming international On the These entire operations Germany, should and investments on

what given summarize, supportive should move economic continue for through as Puerto be believe we've in EVERTEC to conditions discussed, To Rico, we we XXXX.

Turning to on X. Brazil Slide

slow expectations the Brazil also substantially interest instead in both in well but was expected, entering moderated environment down. XXXX, more unemployment The of than we year, EVERTEC As Puerto XXXX. exceeded Rico, the be expectations GDP of growth the X.X% came to was and Brazilian economy inflation macro expect rates above supportive to the in rate expected economists. entering of and

rates Looking to XXXX and inflation to with from X.X% X.X%. XX.X% moderation X%, to forward remain continued unemployment at in Brazilian steady expected from to is rate around interest X%,

Brazil have some over make today, comments On And launched was about the in for of Pix registered by XX% Slide XXXX. Government Pix. bank XX, Central brief let Pix. me population

Pix has very no making average transaction lower use. attractive it consumers, a ticket for costs PXP for Given

deliver good we scale a upgraded can rely less in The license, a we provides fastest-growing Pix and been launch, Brazil. credit of method Am. partner combination more Sinqia both offering Pix been involved transactions. Since offering. is to the better have synergy relationships. Sinqia a has our EVERTEC where partners payment on can presence and benefits transactions debit via with exceed achieve competitive and in in of paySmart increased a the with Pix commercial This Lat Today, paySmart example and

Brazil. Sinqia On on we to Slide X, closed Turning XX. acquisition November the of in

going the to as part In EVERTEC, X XXXX, months would been EVERTEC's forward. big I we by Sinqia EVERTEC. now areas Sinqia of integrate highlighting official start continue to will be an X confident focus we as us. a part have and a will for like success into be remain that past that working of We for

level focus of our is provide area by level are and that our satisfied providing with and to EVERTEC relationships. high level. And first engagement service service at are We at every engagement meeting are us. every make we the highest to hard to customers with expectations sure level and know build The we committed a to getting deeper with increasing Sinqia needs all building their our customer their of we make sure of customers, work the prioritizing

a different also number advancement. acquisitions The committed technology to customers' a second to which verticals levels in product offerings, significant Sinqia We're by consolidating building our has modernizing modernization. will the platforms road have meet years, area of over platforms number time a map, of of needs. of strong added with completed recent in while be each product

Brazil. products parts committed major third We other increased to focus to Leveraging bringing cross The the and Sinqia deal, we Lat to remain area Am, product EVERTEC as of and this customers of announced is revenue sells. while our when to ways finding we export opportunity a our products engagement highlighted to synergies. portfolio with

team will market, area unique with Our of a growth has focus we inorganic which the to exploring continue Sinqia M&A. fourth distinct of opportunities. knowledge Brazilian leverage is to

Finally, margin we optimization. on will focus

will will time, not our initiatives. we benefits of provide been providing At Some years, these contracts same multiyear that pricing have to pursue opportunity a the efficiencies. in believe cost basis. the look client revisited We for areas on us are for

ATMs Finally, were going XXXX Chile able continue to our to acquiring on beyond. Slide We through Chile. in them now and new to our XX, that wins keep business and renew our we should organic strong relationship and XXXX sign with momentum expanded in extensions Getnet include

Compensar, also customer Mexico in our largest platform. relationship as Sears with Bogota, and We on our brought client in a we issuing renewed new to our

me in a capital as highlighting of continued allocation, conclude focus area by Let XXXX.

announced strive by our a that, will to to continue capital $XX in call an we which provide shareholders. Within shares, repurchase now aim commitment program allocation the repurchase over approach. With we to accelerated million our I Joaquin. returns to As best demonstrating turn to mind, the we balanced to

Joaquín Castrillo

Mac, everyone. afternoon, good you, and Thank

Latin expected, as quarter $XXX.X million, was XX. continued Slide segment from X% the margin for from transaction growth the business. $XX.X year the review year full adjusted points acquisition, the lower that first in volumes million, And approximately an continued organic compared was America up partially months benefited revenue Móvil coming also quarter to strong Rico, year. EBITDA POS of Sinqia Turning growth. In as year of fourth a which, ATH growth prior well benefited results increase prior the XX.X%, X approximately basis as our result we and approximately to higher the reflecting for I'll from Puerto down the XX%, EVERTEC. as for the quarter in was from of Total overall prior the strong is margins. EBITDA last year, and Sinqia XXX at Adjusted in the from acquisition,

partially corporate million, a also higher debt to by that impact in from was acquisition, the effective raised interest offset were a an expenses, net adjusted driven quarter higher $XX.X Sinqia including to X% the specific expected depreciation decrease by expense approximately reflected amortization, tax and QX. operating initiatives, overall resulting Adjusted The increase operating income year-over-year, of increased lower rate. finance

was for issued X.X%. the and The lesser shares was the approximately complete to same from the of X% Sinqia out net EPS incremental tax decrease the adjusted year, $X.XX, income, for adjusted impacting Adjusted approximately the pointed effective quarter impact the from acquisition. reasons rate prior a to a extent,

of year, volumes, the business, Rico, spread, our during offset growth from was continued by impact Móvil Throughout from $XXX.X benefited overall initial of the ATH from approximately of higher expectations. the pricing and above we initiatives an year, strong partially the total first year. million, Popular transaction, half full and the the For increase XX% prior in the year revenue Puerto

Adjusted in saw Adjusted the contribution acquisitions new to XX%, year. was million, EBITDA existing year margin reflects assets X% primarily growth impact effect increase year was the In of and the the impact a decrease reflects received $X.XX, as from full that approximately repurchases in which share of Latin at prior due a transaction. strong with sale and completed as the and America, increased lower well income basis prior the The from from organic of acquisition, as Popular the agreement, an of approximately transaction count prior as of EPS EPS year, well the from and approximate expected $XXX approximately decrease adjusted benefited share the of million, from net of XX%. sharing $XXX.X margin of XXXX. the the higher-margin EBITDA share the we XXXX an lower part revenue revenue an an in from increase customers, as Popular and of the X% margin. Adjusted XXX the from Sinqia effect contributing is point

in low growth spread, deterioration spread. beginning card will by volume we increased managed a a Moving through revenue average Net last I to to which our Slide in due approximately X% last in digits and overall sales tough $XX.X the lower as results saw implemented to now year that the fourth is with million, led initiatives XX. overall very comparable a part Merchant Acquiring. mix quarter a anniversary to period The with lower year by single ticket cover segment, pricing year-over-year, strong. quarter

points to results, operating January for Rico prior more driven in XX.X%, average was XX% and of the growth growth previous transactions drive the to the revenue the year. $XX.X by are reflect spread, adjusted EBITDA at Móvil Puerto margin Caribbean which segment in was Revenue for and approximately decrease to million, business, namely margin that look primarily processed in increase was X% and we sales million, driven Adjusted the Slide As XX from we processing by segment. approximately align lower EBITDA down saw quarters. growth higher what $XX.X these basis higher the results prior costs and increase approximately XXX segment. was from an ATH the continues quarter The expenses, volume due was in Services, ticket. On overall The Payment year.

higher quarter to mainly was an in basis revenue margin XX million, margin prior also in and of up the was year. The $XX.X for EBITDA year, XX% from process. scalability primarily segment, from prior up this adjusted was a approximately XX.X%, EBITDA services transactions points and the to the due segment. increase increase approximately benefited over of the the Am to revenue increase The due Adjusted LAT volume provided in

from Slide Sinqia, $XX segment. year-over-year. had the increase the up Solutions approximately our XX, Latin guidance, of addition in America of The in biggest on performance with the are beginning November was included the On Recall are results million, for was quarter. in driver XX% Payments Sinqia the we that contribution and of not we quarter Sinqia any the X. pleased and the Revenue

paySmart during still like the first Organic region The existing contributed the organic Getnet in acquisition Chile double-digit driving strong Brazil growth. and from growth across for quarter. the remained customers also quarter completed others with contribution growth to

EBITDA Adjusted $XX.X lower up year, XXX margin a inclusion segment the the EBITDA prior adjusted primarily basis which million, of due at margin from from to contributes approximately points to compared average. XX.X%, the of was XX% down the year, approximately with prior Sinqia,

in lower acquisition, similar the and by impacted margins to expenses. came at operating in Sinqia negatively also was paySmart Margin increase an which

Slide to XX. Turning

will million, the year. revenue primarily post-closing a was of X% our segment. core prior results The was in agreement prior You for transition the approximately with $XX.X decrease Popular a see the from the revenue banking driven Revenue decline by Solutions service year generated included services, decrease as from transaction. Business

million, quarter. lower-than-expected ago, year XX% for equipment the EBITDA The revenue, basis adjusted was and below EBITDA and the expectations a margin higher Adjusted XXX higher from year $XX lower approximately margin XX.X%, was down expenses to our was due prior approximately points operating primarily costs. to down from

as to XXXX. more We levels, we margins to expect come into move back normalized

specific or executed of other throughout Corporate and expenses. XX, our $X.X see up quarter, of million was expense million prior a due corporate Slide in year, the Moving $XX.X and to the other summary quarter. total corporate you the X.X% to from revenue, in initiatives will part

X million. Moving above XX. expectations, on offers debt Sinqia Sinqia investments. million was and million and take cash overview attractive to operating million paid $XXX and acquisitions, dividends. our $XX were for on paySmart down in XXXX, took and fourth the year regulatory of net care Capital Net on our hardware cash $XXX.X We to related million refresh new key debt, expenditures million to flow $XX from repurchases of as Slide we and the activities of shareholders returned the quarter advantage original to software $XXX.X and deal. in approximately $XXX.X spent took for We through on share and approximately

for we $XX.X under had during We year-end, quarter. million available repurchased future $XXX at program. the approximately XXX,XXX fourth shares, the approximately for million, And use company's share repurchase

ending approximately year-end XXXX an of balance was for Our million, cash from million, XXXX. increase $XXX $XXX.X

to Moving XX. Slide

cash. Our year-end $XXX loan in net debt of short-term at and unrestricted million, position offset $X total of by billion comprised was million debt, $XXX

debt, cost from Our loan our the newly pricing leverage given debt as points increase rate a B, weighted increase SOFR basis grid, loan our plus X.XX%, interest prior term by in result of driven up cost prior of average XXX higher and quarter, a our of year which an ratio. was term issued a A higher the has and approximately at move

to X.XXx, range debt trailing X but was up XX-month X.XXx net a our ago, still EBITDA well year Xx. approximately to Our from target of within adjusted

As of our and million million, ago. excludes which a borrowing December liquidity, restricted year was capacity, includes up total XX, $XXX.X cash from $XXX.X

our Slide commentary Now on to I'll XX turn XXXX outlook. for

growth, effective million $XXX or Adjusted to in of year-over-year. X% the be revenue through and key range $X.XX segments. expected will some X% now flat $X.XX For beginning XX.X% margin is outlook, at $X.XX to tax of XXXX. we growth to reported that the with underlying to EBITDA expectations to XX% arriving approximately a rate or to of considered $XXX in a business you assumes XX.X% XXXX, in compared of range to of our range expect This walk for for assumptions an revenue to be X%. I an we XX.X%, million, adjusted to EPS our

Puerto a to we a growth. segments, we expect Rico the stable where result Caribbean, we strong in For ticket. declining support will a expect offset and with In contribution that partially share resulting Puerto ticket pricing low normalization continued growth growth, Rico In XXXX, revenue by however, strategic Rico part expect from continued of expect as execution we contribute and ATH transaction Popular Merchant these and referrals, of the the to incremental the mid-single-digit do growth average to mid-single-digit growth be Puerto continued have actions in economy, economy sales stable power. We, to in also resulting Acquiring, a from pricing volume Payments average to Móvil. from

America, Sinqia. expect mid-XXs, call and we a to of a Payments headwinds full expected driven in in from For out would low growth primarily the to to also of be couple Latin Solutions I consider. year

Getnet for the QX being adjustment tough of present of that first XXXX. revenue The comparable approximately million a third quarter will the in from $X.X

also PlaceXPay are to migrating new year. the their development expecting products, together now platform, will a internal new headwind and initiatives continues Sinqia of across our leverage the their We Libre Mercado the to second work begin creating Mercado we and half into of to on to going the Libre issuing region. continue volume

piece in was becomes XXX% As mid-XXs, be at of the we expect from don't a to the the to benefit margin margin it contribution relates we margin, much third lower as the the of margin, and Sinqia of a quarter accretive. Getnet segment adjustment XXXX, larger effect in which

the the Finally, at for we including expect up CPI still general, we low throughout to discussed, revenue impact services Business the Popular considering headwinds year, previously expect year. overall ramp of Solutions, of full growth revenues digits for in single the In X.X%.

margin. Now turning to overall

is Sinqia, to including margin, XX.X%. Our expectations for XX.X% adjusted EBITDA

with And margins total America will as consolidated now we more represent and lower more continue previously, said margins, We successful Latin our EVERTEC Rico businesses as will expect pressure XX% close we of relatively margin. will prior this our at put business. in Latin have to our consistent drive year. to become on America Puerto

In the to other Sinqia transaction. we as to terms increase new items, a finance XXXX, of to debt expense the of result the year expect for when significantly, interest compared raised

and a recent addition also fixes business CapEx debt. Operating in we As which XX% our and continued also have to have in expected consistent reminder, approximately place, agreement interest the increase of is we or with an depreciation as with $XXX outstanding million continue trends, our rate to swap invest of Sinqia. to through amortization

the expect than we benefit is X% incremental to tax We effect the a a level, for at effective as Sinqia from rate capital our at priority deployment rate created M&A. drive also which helping lower prior growth adjusted consolidated of of a and adjusted X%, capital amortization tax to is from goodwill years, us level. From debt tax be a through which the and locally an deploying lower shield by perspective, benefit continues

have we $XX CapEx in a business However, invest million continue and of to will including for and Sinqia. target products XXXX, our approximately

back of liquidity leverage Sinqia we expectation Additionally, acquisition. given the our issued shares our and as ratio, position to part the buy

we has million which the weeks, mentioned, be been already the impact already of Mac ASR a part coming into As in will guidance. of our entering $XX included as

to updating of progress our forward you the year XXXX see for in are of EVERTEC at summary, and on full fourth quarter walked few and and over some with we are focused and on well to on the look in next acquisition EVERTEC's Mac history, closing beyond. believe in In you as results XXXX, conferences areas, We the the especially positioned pleased months. in executed X is We delivering on growth hope our the largest we through. year coming

for With that, the line operator, questions. open please

Operator

the Bank. comes And Instructions] Svensson question Nate [Operator from with Deutsche first

Christopher Svensson

mid-teens the high growing on deal, couple like digits, reported. some looking a had when a to at ask have the that looks single they of and it Sinqia, I to so CAGR last announced decelerated at know like filings, Sinqia their been growth Wanted you something time

that you of then And if growth what the have give year need back below embedded growth to historical can you the level do you of do XXXX to there? maybe line to return and what historical the on XX% up the in And how is into sort growth? So guidance? Sinqia CAGR, that what's ended your half an of time growth update

Joaquín Castrillo

Joaquin. is this So

said, grow So certainly certainly our throughout can the Sinqia in out some been growing we we to that we're [indiscernible] which have I continues double Lat we're include a that an before. put of us We pace certain start that have historically. that saying And specific break should synergies focusing to that whole continue in as on initiatives as Am segment at digits. XXXX, revenue has expectation not to pace were Mac Sinqia going same

Operator

with Cris question Blair. William next Kennedy from The comes

Cristopher Kennedy

forward? Just on as the and Can about an year X talk you X update about accretion in expected that and going X Sinqia. business you of think year

Morgan Schuessler

Cris, this is Mac. Thanks for joining.

lot into make up pushing with of we're and very on cross-selling was regulations. lot closer focused the this that saying, the Which year local company of I is spending optimistic a with existing there than lot there So XXXX, plans. We're they've the banks as of accretive the the largest the time large we to is assets. in consortiums spent -- as products sure say close to with to and excited, to of customers. have transaction some to of business. into of the in focus I've to gotten partner but Sinqia what most spent market, neutral best also we've institutions probably pension the ensuring rolling customers. products time incredibly would time invest to I've time, as EVERTEC. business. customers They We're spent they important a the team year, to for They're enough were get and able some and this it's the they because dealing be they're the a a a Joaquin are met an the more I've getting the really in customers the Brazilian of adapt customers, important to on, they

but we've the rate that can making and business so the payments products, grow. payments to sure get that new at to we we the started growth want customers, our continue we're we close Looking talking to products, get about already to getting them

margin optimization, I focused is Secondly on as said. we're

So the it And they they as we're gone efficiencies market, we're they looking initiative, of all look making this all acquisitions. they're a taking very sure have are also more haven't a lot old. these now repricing a contracts like, they're looks these at charging through for efficient, services that be that optimization, deliver. organization can at more at And now cost at

So like said, double we're very We're close the excited doing I now the we for the so we've very Sinqia, about done that EVERTEC can operation grow very, for acquisition. what to segment digits. Lat Am

so in we've Most can and in past, assets. we've margin, the And the period over we of the focused that brought to very lower -- those segment margins, some segment, you've our a past time. new margin had been the we then than we've as noticed on acquired acquired the as of assets

those the year X areas. different that's So focus around this

Cristopher Kennedy

Great. Any on about just talk the follow-up. that? And ATH update then a size you Móvil, could of if

Joaquín Castrillo

the Puerto It well. ATH grow important to be very segment. of to growth Payments us a very in Yes, Móvil source mean Rico Cris. continues for continues I

I think obviously, in with number the coming to obviously our ATH the continues will a top be EVERTEC. forward, digit. past, line That And case. represents we've Móvil being going now what Sinqia much said bigger the that been to impact single in in and overall low it's

Operator

James. John question with [Operator Instructions] the Raymond from next comes Davis And

John Davis

want just a up to went Mac, follow there I question little accretive you neutral. Cris' bit. from on to to neutral

caused more modest expected. what needed, than downtick that of you growth investment revenue in So just lower just slower, kind curious

driven but just kind that I by? of curious slight, know Just it's curious, downtick again, what is

Morgan Schuessler

Yes. No, sure.

accretive they did, bit, a mean, [ said Deutsche the year were a It's we towards last things. I is and focused back transaction year we of things. the to look, to One because when they couple decelerate So different of deal, X. the neutral as I'd this closer mentioned, say half ] on was did announced neutral. they

this we're trying get our for in to So sort of that's accelerate, year. and them to guidance now

the right? the do think is company that to that there's a opportunity to out efficient. want and do there's gate, alienate first that sort some margins, we don't our to that the make go focus to announce So We some improve but to we of part do Secondly opportunity to don't of to of do of both want But some of more customers that part because be we those into the cost opportunity and believe there's some reprice that business. constituencies. employees of we will think new

to So do really know where need they of We want us focused invest. on modernize initially we're customers, getting to platforms. to some the

build do we'll But neutral you the tell Sinqia, incredibly multiyear what sort products to sell Payments their as I a their business to year. So our of customers, met excited with that. our having we to that's more to -- is this invest. with I'm plan more it's can for But nearly reason about desire ability And do X,XXX customers.

John Davis

contribution, public too want helpful. on that's No, don't a were company. to Okay. guys many Sinqia you And details then but Joaquin, you the understand I give

like I Rico is picture it talked So looking Puerto of X% of the And in 'XX, of growth. exclude just math, economy midpoint contribution think if up. and you the finding the some organic in quick rev Getnet looks is guide you the Mac about about kind earlier the

to square Rico kind 'XX. Puerto macro X% in guide. organic just healthy you line So and basis how of historically on a else revenue call top kind But organic curious of kind we kind anything outlook giving the full I growth been of guys you thought out, February, with just appreciate of you an about conservative, as it's have year and

Joaquín Castrillo

like we bit understand that up So, right? to follow in prior to trying I'm better theory, John, I'd a were that's you. if math the little from you from seeing. a range, be what in from the should but that doing, I low exclude to bit you're we're But that different to mean impact on year, the kind mid-single-digit of Getnet

John Davis

the is commented just decelerated it and my a little a Maybe just guidance Mac bit. higher. bit Sinqia Okay. contribution little

the maybe between delta So kind of that's X% mid-singles. and closer to

guidance tax So should Like finally, going not rate lower. about being that there. the helpful, nice are taxes tax then the surprise Joaquin. And positive that's how we Is on rate, you, looking sustainable? just for super think necessarily forward, means, just in tax something this or onetime rate guess? by is how of I something about for kind the this is think going but nature just 'XX do we year that any like

Joaquín Castrillo

No. I multiyear going think -- mean, guidance here. look, I give to not we're that

this. something factors on, sustain, year Some position that, driving in but that's discuss. kind the that better be of we'll understand a of the goes We to we can as much are

specific as while For being and past, we're tax done this benefit a that of Sinqia shield the of guidance that's year, the part level. that's we've getting from then what obviously the lower very than the reasons the obviously given at remarks, we've to part of interest for significantly convey prepared getting we're tried the expense that and in some that some we of

Operator

you. this to any I closing our like conference over Schuessler Mac session. comments. And back the would turn concludes to Thank question-and-answer for

Morgan Schuessler

XXXX, Again, upcoming We today. many reporting Thanks, we call thank you conferences. our successful the want want of forward seeing and to thank you colleagues And at for XXXX. look good in and to for night. year joining a results to in our

Operator

for conference and disconnect. you. now today's presentation, attending concluded. now you Thank The has Thank you may

EVERTEC (EVTC) 28 Feb 242023 Q4 Earnings call transcript