NYSE$NATL

NCR Atleos Corp · Q2 2024 earnings

Q2 2024 earnings · · Investor relations

Briefing

NCR Atleos reported strong second quarter financial results that were at or above the high-end of guidance ranges.

NCR Atleos Corporation reported a 4% year-over-year increase in revenue, reaching $1.08 billion, with recurring revenue growing by 9% to $793 million. The company's GAAP net income was $29 million, and Adjusted EBITDA was $193 million.

  • Second quarter financial results were at or above the high-end of guidance ranges.
  • Revenue grew 4% year-over-year to $1.08 billion; Recurring revenue grew 9% to $793 million.
  • GAAP net income of $29 million; Adjusted EBITDA of $193 million.
  • GAAP fully diluted income per share of $0.39; Non-GAAP fully diluted earnings per share of $0.81.

Headline financials

Total Revenue

$1.08B

Previous: $1.04B+3.9%
EPS

$0.39

Previous: $0.75-48.0%
Gross Margin

23.2%

No prior period
Adjusted Gross Margin

25.4%

No prior period
Adjusted EBITDA

$197M

No prior period
Adjusted EBITDA Margin

18.2%

No prior period
Annualized Recurring Revenue

$1.66B

No prior period
Recurring Revenue Mix

73.0%

No prior period
Revenue from ATMaaS

$47M

No prior period
LTM ARPU

$15.8K

No prior period
Network Managed Units

80.8K

No prior period
Capital Expenditures

-$47M

Previous: -$22M-113.6%
Free Cash Flow

-$18M

Previous: $31M-158.1%
Net Income

$29M

Previous: $53M-45.3%
Operating Income

$107M

Previous: $79M+35.4%
Cash & Equivalents

$374M

Previous: $337M+11.0%
Total Assets

$5.77B

Previous: $5.74B+0.5%
R&D Expense

$14M

Previous: $19M-26.3%
Stock-Based Comp

$9M

Previous: $19M-52.6%

Revenue & EPS history

NCR · Revenue · Quarterly

$1.08B

Q2 2024+3.9%vs Q2 2023
Beat estimate in 6 of 9 quarters(67%)
ActualEstimate

Revenue by segment

NCR · $1.04B total across 3 segments · Q3 2023

  • Self-Service Banking
    $656M+4.0%
  • Network
    $335M+7.0%
  • T&T
    $49M-7.5%

Forward guidance

The company reaffirms and narrows ranges for full year 2024 targets and issues third quarter guidance.

Tailwinds

  • Revenue Q3 2024 Targets: $1.045 - $1.075 billion
  • Revenue FY 2024 Targets: $4.260 - $4.340 billion
  • Adjusted EBITDA Q3 2024 Targets: $195 - $205 million
  • Adjusted EBITDA FY 2024 Targets: $770 - $800 million
  • Adjusted free cash flow-unrestricted FY 2024 Targets: $190 - $220 million

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 12 quarterly earnings reports · overlaid with Q2 2024

Historical avgQ2 2024

+1.6%

Avg return

Earnings day

+2.6%

Avg return

5 days after

+2.7%

Avg return

30 days after

57%

8 / 14 earnings

Positive

+17.3%

Q1 2023

Best reaction

-7.6%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.2%+0.3%-1.5%
Q4 2025+5.4%+12.8%+2.5%
Q3 2025-7.6%-5.3%-2.4%
Q1 2025-7.0%-5.6%-8.5%
Q4 2024-3.7%-3.7%-3.3%
Q3 2024+2.6%-0.7%+14.3%
Q2 2024-2.9%-0.1%-5.2%
Q1 2023+17.3%+26.4%+25.6%
Q1 2024+12.6%+25.5%+21.9%
Q4 2021+3.6%+3.2%+12.5%
Q2 2023+3.6%+3.2%+12.5%
Q4 2023-4.0%-3.7%-12.2%
Q3 2022+1.9%-8.0%-9.4%
Q3 2023+1.9%-8.0%-9.4%
Q4 2022
Q2 2022
Q1 2022
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014

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