NCR Issues Outlook, Launches Strategic Review; Shares Up 10%

(RTTNews) - While reporting its fourth-quarter results on Tuesday, NCR Corp. (NCR) issued an outlook for the full year and first quarter of 2022. The company also announced the launch of strategic review to enhance value for shareholders. Shares of the company gained nearly 10% in extended trading session.

For the full year 2022, the company forecasts revenues of $8 billion to $8.2 billion and adjusted earnings of $3.25 to $3.55 per share. Analysts polled by Thomson Reuters currently estimates earnings of $3.49 per share on revenues of $8.17 billion.

For the first quarter of 2022, the company expects revenues of $1.9 billion to $1.95 billion and adjusted earnings of $0.60 to $0.65 per share. Analysts currently estimate earnings of $0.72 per share on revenues of $1.91 billion.

"Our fourth quarter results marked a solid finish to a terrific year for NCR. We simultaneously drove strong growth in recurring revenue, higher profitability and increased cash generation," said Michael Hayford, Chief Executive Officer. "We made tremendous progress integrating Cardtronics and transforming NCR into a software platform and payments company. We enter 2022 with strong demand, positive momentum and a path to accelerate growth. We are positioning NCR to deliver competitive differentiation to our customers and strengthen our long-term growth profile."

Hayford continued, "While our execution against our stated objectives has been excellent and our outlook is favorable, we believe there is substantial value in our business that could be unlocked. Accordingly, we have launched a board-led strategic review process to evaluate a full range of strategic alternatives available to enhance both NCR's value and shareholder returns."

NCR closed Tuesday's trading at $38.30, up $1.15 or 3.10%, on the Nasdaq. The stock further gained $3.65 or 9.53% in the after-hours trading.