Market Profile Strategies - Jack Henry & Associates, Inc. (NASDAQ:JKHY) gave weak guidance

Market Profile Strategies

Dec 30 2023 • 0 seconds

Jack Henry & Associates, Inc. (NASDAQ:JKHY), a well-rounded financial technology company, stock fell 8.44% (As on August 17, 11:19:58 AM UTC-4, Source: Google Finance) after the company reported a profit for its fourth quarter that increased from the same period last year and beat the Street estimates. The company’s bottom line totaled $80.43 million, compared with $76.86 million, in last year’s fourth quarter. For Q4, core segment revenue increased 8%, payments segment revenue increased 5%, complementary segment revenue increased 9%, and corporate and other segment revenue increased 22%. Adjusted operating margin expanded by 85 bps to 20.9%. Adjusted EBITDA increased by 9.1% Y/Y to $144.53 million, and margin expanded by 30 bps to 30.3%. As of June 30, 2022, cash and cash equivalents totaled $48.8 million. Trade receivables totaled $348.1 million, and the Company had $115 million of borrowings. Jack Henry & Associates repurchased 1.25 million shares of common stock during FY22. JKHY net cash provided by operating activities for FY22 totaled $504.63 million, compared to $462.13 million. Free cash flow was $313.2 9 million. Debt related to the revolving credit line was $115 million at June 30, 2022 and $100 million at June 30, 2021. Moreover, Services and support revenue increased for fourth quarter fiscal 2022 primarily driven by growth in cloud processing revenue of 12.3% and increased implementation fee revenue, partially offset by a decrease in deconversion fees of $3,009. Processing revenue increased for the fourth quarter fiscal 2022 primarily driven by growth in Jack Henry digital revenue of 31.3%, and increased card processing revenue. JKHY in fourth quarter of FY 22 has reported the adjusted earnings per share of $1.10, beating the analysts’ estimates for the adjusted earnings per share of $1. The company had reported the adjusted revenue growth of 8 percent to $477.45 million in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $480.12 million. The non-GAAP adjusted operating income increased 13% for the fiscal quarter ended June 30, 2022 compared to the prior-year fiscal quarter. JKHY expects GAAP revenue of $2.08 billion to $2.087 billion and GAAP EPS of $5.05 to $5.09, vs. a consensus of $5.23. It expects Non-GAAP revenue of $2.045 billion to $2.052 billion, vs. a consensus of $2.08 billion. On the other hand, the company has recently announced that Mimi Carsley has been named as the company’s chief financial officer (CFO) and treasurer, effective September 1, 2022.



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