Cardtronics Inc. (NASDAQ:CATM) Q2 2019 Earnings Conference Call - Final Transcript

Aug 01, 2019 • 05:00 pm ET


Cardtronics Inc. (NASDAQ:CATM) Q2 2019 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Cardtronics Second Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions for how to participate will follow at that time. (Operator Instructions) As a reminder, this conference call is being recorded.

I would now like to introduce your host for today's conference, Mr. Brad Conrad, Executive Vice President and Treasurer. Sir, you may begin.

Brad Conrad

Thank you. Good afternoon and welcome to Cardtronics second quarter 2019 conference call. On the call today, we have Ed West, Chief Executive Officer; and Gary W. 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 SEC, including our Form 10-K for the year ended December 31, 2018, 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 updated 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 the reconciliation of such measures to the nearest GAAP measure is included in the earnings release issued this afternoon and available on our website. We have also posted supplemental investor materials regarding the second quarter results on our website.

And with that, I will turn this call over to Ed.

Edward H. West

Great. Thank you, Brad and welcome everyone. We have quite a few highlights to share with you today. The second quarter results were driven by strong execution by the team and we're all encouraged by the building momentum we see in our business. My key messages for you today are as follows.

First, we achieved an important milestone by returning to organic revenue and profit growth in the second quarter. Our outlook calls for a robust second half of this year versus prior year and based on the recent performance and the outlook, we are raising our guidance for the fiscal year. Second, the Cardtronics business model continues to transform to a network business, leveraging our unique franchise position serving retailers, FIs and consumers alike. And third, market conditions in consumer financial services are evolving in a favorable