From GlobeNewswire

1. GlobeNewswire reported on a new study that found a significant increase in remote work due to the COVID-19 pandemic, with 74% of companies planning to permanently shift to more remote work post-pandemic.

2. According to GlobeNewswire, a recent survey revealed that 63% of consumers are more likely to purchase from companies that are taking measurable steps to reduce their carbon footprint.

3. GlobeNewswire highlighted a report showing that global e-commerce sales are expected to reach $4.2 trillion by the end of 2020, representing a 16.5% increase from the previous year.

4. GlobeNewswire covered the announcement of a partnership between two major tech companies to develop a new artificial intelligence tool that will enhance customer engagement and improve personalized recommendations.: 2024-11-08 08:00:00

International Money Express, Inc. (NASDAQ: IMXI) reported strong third-quarter financial results, with revenues of $171.9 million, a 0.3% decrease, and net income of $17.3 million, a 16.9% increase. CEO Bob Lisy highlighted growth in the digital business and a 7% increase in Adjusted EBITDA. The company is exploring strategic alternatives, including a potential sale.

Total revenues for the third quarter were $171.9 million, down 0.3%, driven by a slowing remittance market growth to Latin America. Net income increased by 16.9% to $17.3 million, with diluted EPS at $0.53, a 29.3% increase. Adjusted net income rose 7.6% to $19.8 million, and adjusted diluted EPS was $0.61, a 19.6% increase. Adjusted EBITDA increased 6.9% to $33.9 million.

In year-to-date financial results for 2024, revenues increased by 1.4% to $493.9 million, with net income at $43.4 million, a 3.3% increase. Growth was driven by a 4.5% increase in revenue from net foreign exchange gain and a 46.9% increase in other income related to fees from Company-operated stores. Principal amount from remittance activity slightly decreased by approximately 0.2% to $18.3 billion. In the third quarter of 2024, InterMex reported diluted earnings per share of $1.30, a 14.0% increase. Adjusted net income rose by 3.1% to $52.6 million, with adjusted diluted earnings per share at $1.58, up by 13.7%. Adjusted EBITDA also increased by 4.2% to $90.3 million. The company ended the quarter with $156.6 million in cash and cash equivalents, repurchasing over 1 million shares of common stock. Restructuring costs incurred in the nine months ended September 30, 2024, were approximately $2.7 million, with expected annualized savings over $2.0 million starting in 2025. Non-GAAP financial measures like adjusted net income, adjusted earnings per share, adjusted EBITDA, adjusted EBITDA margin, and net free cash generated are key metrics used by management to assess financial performance and will be discussed in an investor and analyst conference call and webcast presentation at 9:00 a.m. Eastern Time today. Interested parties can gain knowledge about Intermex’s financial performance and operational achievements through a live broadcast of the conference call on their website. Participants can join via telephone after registration and access an archived webcast for one year. The press release contains forward-looking statements regarding the company’s plans, objectives, financial performance, and risks. International Money Express, Inc. was founded in 1994 and allows consumers to send money from the US, Canada, Spain, Italy, UK, and Germany to over 60 countries. The company operates through a network of agent retailers, mobile apps, and websites. Intermax is headquartered in Miami, FL, with offices in Mexico, Guatemala, London, and Madrid.

As of September 30, 2024, International Money Express, Inc. reported total assets of $480,923, with current assets at $325,841. Revenues for the third quarter of 2024 were $171,947, with operating expenses totaling $144,122. Net income for the quarter was $17,297, resulting in earnings per share of $0.53.

Adjusted net income for the third quarter of 2024 was $19,843, with earnings per share of $0.61. This figure was calculated by adjusting for items like share-based compensation, restructuring costs, transaction costs, and amortization of intangibles. Adjusted net income provides a clearer picture of the company’s financial performance.



Read more at GlobeNewswire

1. GlobeNewswire reported on a new study that found a significant increase in remote work due to the COVID-19 pandemic, with 74% of companies planning to permanently shift to more remote work post-pandemic.

2. According to GlobeNewswire, a recent survey revealed that 63% of consumers are more likely to purchase from companies that are taking measurable steps to reduce their carbon footprint.

3. GlobeNewswire highlighted a report showing that global e-commerce sales are expected to reach $4.2 trillion by the end of 2020, representing a 16.5% increase from the previous year.

4. GlobeNewswire covered the announcement of a partnership between two major tech companies to develop a new artificial intelligence tool that will enhance customer engagement and improve personalized recommendations.:: Intermex Reports Third-Quarter Results