Self-Service

NCR Atleos boosts Q4, FY sales, suffers earnings declines

Image: NCR Corp.

February 15, 2024

NCR Atleos, which provides ATM-as-a-service for outsourcing ATM fleets, lifted its Q4 and FY sales over the prior year periods but suffered earnings declines, according to an earnings report. Highlights include:

• Net revenue rose from $1.06 billion in Q4 2022 to $1.09 billion in the quarter ending Dec. 31, 2023, including $777 million of recurring revenue, compared to $709 million, respectively, in the prior year period.
• Net income fell from $5 million to a $160 million loss in the comparative quarters.
• Net income per share fell from 10 cents to a $2.28 loss.
• Non-GAAP adjusted EPS was 69 cents.
• Self-service banking revenue fell 3% from $683 million to $665 million.
• Network revenue rose from $298 million to $323 million.
• Full year revenue rose from $4.13 billion to $4.19 billion.
• Full year income fell from $107 million to a $128 million loss.
• Full year income per share fell from $1.53 to a $1.84 loss.

Shares traded at $22.06 today against a 52-week range of $18 to $26.

The $1.1 billion in quarterly revenue beat analyst expectations by $10 million, according to Seeking Alpha.

"The fourth quarter was a strong start for Atleos as a separate company, and a great finish to the year," Tom Oliver, president and CEO, said in the press release. "Our core businesses performed exceptionally well, with financial results in line with the projections made for the separation transaction."

The company expects 2024 revenue between $4.2 billion and $4.4 billion, with non-GAAP diluted EPS of $2.90 to $3.20.