Currency Exchange International reports steady Q1 revenue
Overview
US foreign exchange services firm's Q1 revenue flat yr/yr as Payments growth offsets Banknotes decline
Adjusted EPS for Q1 doubled yr/yr, driven by Payments growth and expense controls
Company repurchased 151,000 shares for $2.5 mln under NCIB during the quarter
Outlook
Company says it will continue to streamline expenses during the EBC exit process in 2026
CXI remains focused on expanding digital payment streams and branch network for sustained growth
Company notes ongoing uncertainties in global geopolitical environment may impact results
Result Drivers
PAYMENTS GROWTH - Payments revenue rose 49% yr/yr, driven by a 46% increase in business trading volumes from new and existing customers following core banking system integrations
BANKNOTES DECLINE - Banknotes revenue fell 11% yr/yr due to continued slowdown in international travel, higher currency sourcing costs, and absence of large non-recurring trades seen last year
EXPENSE IMPACT - Results included restructuring charges from the Miami vault closure and stock-based compensation, which management says causes earnings volatility
Company press release: ID:nACStqshsa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Net Income |
| $1.5 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the financial technology (fintech) peer group is "buy"
Wall Street's median 12-month price target for Currency Exchange International Corp is C$32.00, about 17.8% above its March 11 closing price of C$27.16
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