Company exceeds forecasts with pre-tax
earnings 16% above guidance and 10 times higher than in previous
quarter
SÃO PAULO, June 2, 2022
/PRNewswire/ -- StoneCo Ltd (Nasdaq: STNE) total revenues reached
BRL 2.07 billion in 2022's first
quarter, a 138.6% increase over the same period in 2021. The
figures exceeded BRL 1.85 to
BRL 1.90 billion guidance due to a
107.8% increase in revenues from Financial Services to BRL1.7 billion in the period, and 955.6% increase
in Software to BRL 326.6 million in
this quarter.
Adjusted EBT (earnings before taxes) grew from BRL17.2 million in the fourth quarter to
BRL163.1 million in the first quarter
of 2022. The positive performance results from the combination of a
strong increase in total revenue, despite seasonality, and
effective control of costs and expenses. Adjusted net income in the
first quarter was BRL132.2 million,
four times higher than BRL33.7
million reported in the previous quarter.
"The pricing initiatives have gained traction and we have raised
the quality of our customer base. We are at a time of inflection
for the company, with significant improvement in profitability,"
says Stone CEO, Thiago Piau.
The company reported the results of its Financial Services and
Software businesses separately. "This separation is in line with
our business strategy and offers greater clarity and transparency
about our performance in each segment," he adds.
Stone recorded a 63.1% increase in total volume of payments
(TPV) in the first quarter, to BRL83.2
billion, with emphasis on the micro, small and medium-sized
companies (MSME), which advanced 93.3 % in the first quarter due to
an increase in customer base, reaching 1.9 million users in Q122,
and an average increase in TPV per customer. The take rate
increased from 1.71% to 2.06% in the quarter.
Stone projects a total revenue of BRL2.15
billion to BRL2.2 billion in
Q222, with a 148% to 154% growth compared to Q221 (pro-forma for
Linx). The estimate is that MSME TPV will beBRL67 billion to
BRL68 billion in Q222, up 71% to 73%
over previous year, and a pre-tax profit growth from BRL163 million of adjusted EBT to BRL185 million before bond financial expenses or
from BRL82 million to over
BRL90 million.
To continue evolving the business, improving its governance and
reaching higher levels of efficiency, Stone announces the arrival
of new professionals. Marcus
Fontoura takes over as Chief Technology Officer (CTO), after
stints at Microsoft, Google, Yahoo and IBM. Thomas Gregor, currently in garden leave, has
more than 30 years' experience in financial services as risk
director for small and medium-sized companies at Santander Brasil,
will be Head of Credit in the second half of the year. Osmar Castellani takes over as VP of Finance in
the Software Division. He has extensive experience in Investment
Banking, with stints at Goldman Sachs and Credit Suisse.
View original
content:https://www.prnewswire.com/news-releases/stone-accelerates-growth-recovering-profitability-and-reports-record-revenue-of-brl-2-07-billion-in-1q22--with-138-6-increase-year-over-year-301560643.html
SOURCE StoneCo.