StoneCo sees Q3 revenue and revenue, adjusted profit surpassing Q2 levels (NASDAQ:STNE)

Jirsak

StoneCo (NASDAQ: STNE) Inventory slipped 3.1% Thursday after-hours trading, even after the Brazilian fintech posted growth in the second quarter of 2022 and expects third-quarter revenue and pre-tax profits to rise from second-quarter levels.

The company expects total third-quarter sales and revenue exceed R$2.40 billion (US$460 million), up about 63% year-on-year; compares to $2.30 billion in the second quarter.

Adjusted profit before tax is expected to exceed R$125m (US$24m) in the third quarter, compared to R$106.7m in Q2.

Total MSMB payment volume is expected to reach R$73.0 billion R$74.0 billion in Q3 2022, up 41% to 43% year-on-year; and versus R$69.9 billion in Q2.

Second Quarter Adjusted EBITDA of R$1.06 billion increased by 29% Q/Q and compared to -R$17.9 million in the prior year quarter; EBITDA margin increased 6.4 percentage points from the prior quarter to 45.9%, primarily due to cost and expense efficiencies, as well as lower marketing.

Total Q2 payments volume of R$90.7 billion, a record high, increased from R$83.2 billion in Q1 and R$60.4 billion in Q2 2021.

MSMB Net Additions in Q2 of 195.5K vs. 160.1K in Q1

MSMB’s second quarter catch rate of 2.09% improved from 2.06% in the prior quarter.

Total revenue and revenue for the second quarter of R$2.30 billion increased from R$2.07 billion in the first quarter and R$613.4 million in the second quarter of 2021.

Conference call at 5:00 p.m. ET.

Last month, a Susquehanna analyst cut his 2023 revenue estimate for StoneCo (STNE), citing TON business account churn which is putting pressure on total payment volume.

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