The world’s largest ATM operator announced a 13 percent increase in adjusted EBITDA following the repurchase of one million shares.
Cardtronics (NASDAQ:CATM), a leading ATM provider announced improving adjusted earnings before interest, tax, depreciation and amortization for the quarter, as figures climbed 13 percent to US$87.1 million. During the quarter, the company announced key partnerships with a number of fintech firms for its Allpoint network access, and repurchased over 1 million shares.
As quoted in the press release:
“The third quarter results were highlighted by solid revenue and profit growth in both our North America and Europe & Africa segments. Revenue growth, coupled with continued operational execution, allowed us to deliver strong margin expansion in the quarter, resulting in double digit growth in Adjusted EBITDA. We continue to strengthen our two-sided network with several key partnerships recently executed across leading financial institutions, FinTechs, and retailers. Branch transformation continues to be a priority for financial institutions of all sizes, and given the breadth and strength of our ATM network, we are well positioned to capitalize on this growing trend. Looking ahead, we are increasingly confident in our ability to leverage our network to deliver profitable growth and strong returns for our shareholders,” commented Edward H. West, Cardtronics’ chief executive officer.