earnings
confidence high
sentiment neutral
materiality 0.75
CPI Card Group: FY2021 net sales +20% to $375.1M; Q4 Adj EBITDA -23%; sees mid-single-digit growth in 2022
CPI Card Group Inc.
- Full year net sales $375.1M (+20% YoY), net income $15.9M (-1%), EPS $1.36; Adj EBITDA $76.4M (+33%).
- Q4 net sales $93.2M (+11%), net income $0.7M (-91%), Adj EBITDA $13.6M (-23%) due to labor cost increases and higher SG&A.
- Debit & Credit segment net sales $296.2M (+18% FY); Prepaid Debit $79.2M (+25% FY).
- Company expects mid-single-digit net sales and Adjusted EBITDA growth in 2022; margin similar to FY2021.
- Announces $20M paydown of 8.625% senior secured notes due 2026 at 103% of par.