NCR Atleos Posts Strong Q1 Earnings, Beats Estimates

ATLANTA – NCR (NYSE:) Atleos Corporation (NYSE: NATL), a leader in self-service banking solutions, reported a robust start to 2024 with first-quarter earnings and revenue that surpassed analyst expectations. The company announced an adjusted EPS of $0.41, which was slightly ahead of the analyst estimate of $0.40. Revenue also saw a healthy increase, reaching $1.05 billion against the projected $1.04 billion, marking a 6% year-over-year (YoY) growth.

The company’s recurring revenue climbed 7% to a record $763 million, contributing significantly to the overall revenue growth. Adjusted EBITDA rose by 11% YoY to $162 million, and the company generated an adjusted free cash flow of $69 million. However, on a GAAP basis, NCR Atleos reported a net loss of $8 million, with a fully diluted loss per share of $0.11.

President and CEO Tim Oliver expressed satisfaction with the results, attributing the strong performance to the company’s market-leading solutions for self-service banking, which continue to gain traction with banks, retailers, and customers. “First quarter growth was paced by double-digit growth in global withdrawal transactions and strong growth in services revenue,” said Oliver.

Looking forward, NCR Atleos has reaffirmed its full-year 2024 guidance and issued its second-quarter guidance. For Q2 2024, the company anticipates an EPS range of $0.63 to $0.73, with the midpoint below the consensus estimate of $0.68. Revenue is expected to be between $1.06 billion and $1.09 billion, closely aligning with the consensus estimate of $1.085 billion. For the full year, NCR Atleos projects an EPS of $2.90 to $3.20 and revenue between $4.2 billion and $4.4 billion, with both ranges encompassing the analyst consensus of $3.10 for EPS and $4.336 billion for revenue.

These forward-looking statements are framed within the context of the company’s recent separation from NCR Voyix Corporation, which positions Atleos as an independent entity with a focus on expanding self-service financial access and ATM expertise.

Investors and analysts may find additional financial information and analysis on NCR Atleos’s Investor Relations website. The company remains headquartered in Atlanta, Georgia, and employs approximately 20,000 people globally.

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