NCR Corp.(NYSE: NCR) reported financial results for the three months ended June 30, highlighting significant revenue and profit margins.
KEY POINTS:
- Revenue of $1.68 billion, up 13%; NCR stand-alone up 11% including recurring revenue growth of 11%.
- Significant profit margin expansion driven by cost reductions and favorable mix of revenue.
- Cash flow from operations of $155 million; Free cash flow of $142 million.
- GAAP diluted EPS of $(0.10); Non-GAAP diluted EPS of $0.62, NCR stand-alone of $0.64.
- Cardtronics transaction completed on June 21, 2021.
- Announced definitive agreement to acquire LibertyX.
- Second half 2021 guidance announced.
“Our second quarter results demonstrate positive momentum across all segments and included strong revenue growth, margin expansion and cash flow generation,” said NCR president and chief executive Michael Hayford.
“Our strategy of investing in NCR’s strategic growth platforms and the shift to NCR-as-a-Service are paying off," Hayford continued. "We closed the Cardtronics transaction and recently announced a definitive agreement to acquire LibertyX, a leading cryptocurrency software provider. NCR will use the LibertyX technology, together with Cardtronics, to expand our as-a-Service offerings. Our financial position is strong, and NCR is poised to deliver increased value to customers and sustainable long-term value to stockholders.”
Cardtronics is a wholly owned subsidiary of NCR that currently operates independently from NCR pending completion of the merger review by the UK Competition and Markets Authority. NCR can begin integration with Cardtronics only after regulatory approval by the CMA.
NCR Corp. is a leading software- and services-led enterprise provider in the financial, retail and hospitality industries. NCR is headquartered in Atlanta and employs 36,000 people globally.
