Euronet Worldwide, Inc. (NASDAQ:EEFT) Q3 2023 Earnings Call Transcript

Michael Brown : Actually really nothing will have changed. My preference is always an acquisition. You saw what we did with the Piraeus Bank merchant acquiring business that’s now called EMF, Euronet merchant acquiring that maybe has basically doubled its profits in less than two years. Those are the gifts that keep on giving. So we really love that kind of thing. We will look at purchasing — repurchasing shares as the market is treating us poorly like we did in this last quarter. But really, whether you’re pulling them out — so let’s say these ATMs cost $11,000 each, we used to buy, call it, 3,000 to 3,500. So that’s like $40 million in CapEx. We will, if maybe we only need to spend half of that this coming year, and it does give us more cash, but it’s not enough really to move the needle.

So we will just continue down our same path as we have in the past and that we’re actually very actively evaluating a number of companies right now that could be acquisition candidates. But we’re pretty tough when we look at these things. We do thorough due diligence and a lot of times find skeletons in the closet, so we have to walk away. But we’re always looking at — I mean we’re deal people. We love deals. So if I can do that, I will. But we’ll just have to see what pops up.

Michael Brown : And thank you, everybody, for taking your time with us today. I really appreciate it. I look forward to talking to you after Q4 is complete. Thank you very much.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.