The Montreal-based fintech company lowered its 2023 revenue outlook to between US$1.17 billion and $1.2 billion, compared to its previous range of US$1.23 billion to US$1.26 billion. It also expects lower adjusted earnings before interest, taxes, depreciation and amortization of between US$417 million and US$432 million, down from US$456 million to US$477 million, the company said in its latest quarterly results on Wednesday. (The Logic)
Skip to content
The Montreal-based fintech company lowered its 2023 revenue outlook to between US$1.17 billion and $1.2 billion, compared to its previous range of US$1.23 billion to US$1.26 billion. It also expects lower adjusted earnings before interest, taxes, depreciation and amortization of between US$417 million and US$432 million, down from US$456 million to US$477 million, the company said in its latest quarterly results on Wednesday. (The Logic)
Talking point: On an earnings call, chief financial officer Dave Schwartz said the revised forecast is due to longer lag times in generating revenue with larger clients and ending a relationship with a big, unnamed customer. In the second quarter, Nuvei’s quarterly net income dropped by more than half to US$11.6 million from US$35.1 million last year. It posted diluted earnings per share of US$0.39, missing analyst expectations of US$0.44 a share, according to estimates compiled by FactSet. Nuvei shares closed down nearly 40 per cent on the Toronto Stock Exchange.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Commentary
Carmichael: Canada’s wartime economic triumph can teach us something today
Briefing
Nokia to spin out space communications business through Canadian SPAC deal
Ontario police aren’t reporting spyware use, senior privacy official warns
Magna founder Stronach found guilty of indecent and sexual assault
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
