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Cardtronics shareholders approve NCR’s acquisition, reports Q1 2021 revenue loss, earnings gain

Cardtronics shareholders approve NCR’s acquisition, reports Q1 2021 revenue loss, earnings gainLogo provided.


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 bid to 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.

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