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Nuvei reports lower second-quarter profits as take-private deal approaches

The Canadian Press
·1 min read
The Canadian Press

MONTREAL — Nuvei Corp. says it earned US$5.3 million in its second quarter, down from US$11.6 million a year earlier.

The Montreal-based company says revenues totalled US$345.5 million, up from US$307.0 million during the same quarter last year.

Diluted earnings per share were two cents US, down from seven cents US.

In June, Nuvei shareholders voted overwhelmingly in favour of a plan that will see the company bought by an American private equity firm and taken private at a US$6.3-billion valuation.

The company says the deal is expected to close in late 2024 or the first quarter of 2025.

Nuvei did not provide any financial outlook or growth targets in its earnings release due to its pending privatization.

This report by The Canadian Press was first published August 6, 2024.

Companies in this story: (TSX:NVEI)

The Canadian Press