Cardtronics Inc. (NASDAQ:CATM) Q1 2018 Earnings Conference Call - Final Transcript

May 03, 2018 • 05:00 pm ET


Cardtronics Inc. (NASDAQ:CATM) Q1 2018 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Cardtronics' First Quarter 2018 Earnings Conference Call. At this all participant are in a listen only mode. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the conference over to Brad Conrad, Chief Accounting Officer and Treasurer. Please begin.

Brad Conrad

Thank you. Good afternoon, and welcome to Cardtronics' first quarter 2018 conference call. On the call today, we have Ed West, Chief Executive Officer; and Gary Ferrera, Chief Financial Officer. We will start with prepared remarks and then take questions.

Before we begin, a cautionary statement regarding forward-looking information. During the course of this call, we will make certain forward-looking statements regarding future events, results or performance. Any forward-looking statements made on this call are subject to risks and uncertainties, including, but not limited to, events, market conditions and other risks and uncertainties that could cause actual results to differ materially. Please refer to our earnings release and our reports filed with the SEC, including our Form 10-K for the year-ended December 31st, 2017, which describe forward-looking statements and risk factors and other events that could impact future results and other factors that could impact our business.

The statements on this call are made as of the date of this call and are based on current information and may be outdated at the time of any replay of this call. We assume no obligation to update any forward-looking statements made today to reflect events that occur or circumstances that exist after the date on which they are made.

In addition, during the course of this call, we will reference certain non-GAAP financial performance measures. Our opinion regarding the usefulness of such measures, together with a reconciliation of such measures to the nearest GAAP measure, is included in the earnings release issued this afternoon and available on our website. For your convenience, we've also posted supplemental materials at

With that, I will turn the call over to Ed.

Edward H. West

Thank you, Brad, and welcome, everyone. In my comments today, I will cover some of the highlights from the quarter, key developments and trends, and then Gary will review the financial results and outlook and then we will open up the call for Q&A. But first, some quick highlights on Cardtronics. We are the largest independent ATM operator in the world. As a result of our size and placement at premier retailers and transit locations, we are uniquely positioned to serve consumers' cash transaction needs in our key markets. We deliver a distinctive value proposition for financial institutions of all sizes, retailers and directly for consumers. We operate over 225,000 ATMs, with nearly 80,000 of those ATMs owned by us and mostly located at a high-traffic premier retail locations.

Globally, we handle over 2 billion transactions annually, and we dispersed almost $100 billion last year. The lion's share of our economics are transaction-based and centered in those nearly 80,000 ATMs that we own and operate. Our revenues