Shares of NCR Atleos (NYSE:NATL), a prominent ATM network provider, rose by as much as 13.2% on Wednesday, recently settling up 5.6% at $30.67.
The increase follows the company’s announcement of an improved financial outlook, with an annual adjusted profit forecast raised to approximately $3.12 per share, surpassing its previous guidance range of $2.90 to $3.05 per share.
NCR Atleos also updated its revenue expectations, projecting annual revenue to reach about $4.30 billion, slightly up from the earlier forecast range of $4.26 billion to $4.30 billion.
Meanwhile, the company’s third-quarter performance exceeded Wall Street's estimates, with an adjusted profit of 89 cents per share, beating analysts' expectations of 79 cents, according to data from LSEG.
CEO Tim Oliver attributed the optimistic outlook to heightened demand for advanced ATM hardware, driven by a mix of scheduled replacements and growing interest in ATMs with enhanced capabilities, such as cash recycling and contactless options.
Oliver further noted a trend of financial institutions outsourcing ATM-centric services to streamline branch operations, manage costs, and enhance customer experience.
As of the last close, NATL shares have surged 19.6% year-to-date, reflecting strong investor confidence in the company’s strategic direction and growth prospects.