Analyst Summary:
International Money Express (Intermex) reported strong financial results for the fourth quarter and full year of 2022, driven by operations that led to double-digit increases in key financial measures. The company's chairman, CEO, and president, Bob Lisy, credited the success to Intermex's growing network of retail locations and the company's digital app. The full year revenues increased by 21.6% to $546.8 million due to an increase in digital transactions, while the principal amount sent increased by 21% to $21 billion. The adjusted net income increased by 15% to $149.1 million, while adjusted EBITDA increased by 22% to $155.8 million. Lisy said Intermex's unique, omnichannel strategy is resonating in their markets and creating tremendous value for the company and its shareholders. The company also announced a $100 million share buyback program. Intermex provided guidance for the full year and first quarter of 2023. Investors should note that forward-looking statements involve risks and uncertainties that could affect the company's future performance.