NCR Corp. reported revenue of $ 1.90 billion, up 20% in its results for the third quarter ended Sept. 30. The banking sector saw the largest increase of 35%, according to a press release.
Adjusted third-quarter earnings before interest, taxes, depreciation and amortization increased to $ 352 million from $ 249 million last year. In addition, cash flow from operating activities of the company was $ 497 million, compared to $ 212 million last year, and free cash flow to $ 125 million compared to $ 160 million. dollars last year. This decrease in free cash flow was caused by changes in working capital from period to period.
Other key findings from the results include:
- GAAP diluted EPS of $ 0.06.
- Non-GAAP diluted EPS of $ 0.69.
- The retail trade saw its turnover fall by 1%.
- The hotel industry saw its turnover increase by 29%.
“We delivered strong results in the third quarter with strong growth in recurring revenue streams, increased profitability and consistent cash generation. Adjusted EBITDA hit a multi-year high of 18.5% and since the start of the year we have generated more than $ 350 million in cash flow, ”said Michael Hayford, CEO of NCR, in the release. “Most importantly, we have made significant progress in the strategic initiatives that transform NCR into a software platform and a payments company. Strong demand, diligent execution and strategic traction should allow us to close out a successful 2021 and build momentum for 2022. The integration of Cardtronics is on track and we remain excited about the growth opportunities the combination will provide. . “