From GlobeNewswire: 2024-05-08 08:00:00

International Money Express, Inc. (NASDAQ: IMXI) reported strong Q1 2024 results with revenues of $150.4 million, up 3.5%, net income of $12.1 million, up 2.9%, and adjusted diluted EPS of $0.43 per share, up 13.2%. The Company’s omnichannel strategy is delivering strong earnings and margins, with continued growth expected throughout the year. CEO Bob Lisy highlighted the Company’s record-breaking quarter and double-digit earnings growth.

In the first quarter of 2024, Intermex saw revenue growth driven by increased transactions and active customers, resulting in $5.5 billion in principal transferred, up 2.6%. Net income grew to $12.1 million, with diluted EPS reaching $0.35, up 12.9%. Adjusted EBITDA increased 5.5% to $25.4 million, reflecting the Company’s focus on efficiency and strategic investments. The Company ended the quarter with $218.8 million in cash and cash equivalents.

For the full year 2024, Intermex reaffirmed its guidance of revenue between $681.0 million and $701.8 million, diluted EPS of $1.77 to $1.92, and adjusted diluted EPS of $2.13 to $2.31. Adjusted EBITDA is expected to range from $124.0 million to $127.7 million. In Q2 2024, the Company expects revenue of $171.5 million to $176.8 million, diluted EPS of $0.41 to $0.45, and adjusted diluted EPS of $0.54 to $0.58, with adjusted EBITDA projected between $31.7 million and $32.7 million. Intermex’s strategic initiatives aim to drive efficiency and cost savings moving forward.



Read more at GlobeNewswire:: Intermex Reports First Quarter Results