Announcement • Jan 31
Atento S.A. Files Form 15 Atento S.A. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Ordinary Shares with no nominal value under the Securities Exchange Act of 1934, as amended. Announcement • Jan 30
Atento Announces Board Appointments Atento Luxco 1 announced the appointment of two new non-executive board members -Chuck Sykes, the former president and CEO of Sykes Enterprises, and John Chapman, former CFO of Sykes Enterprises. Chuck Sykes has agreed to become Chairman of the Board. From 2004 to 2021, Chuck Sykes was president and CEO of Sykes Enterprises, a publicly traded global business process operator specializing in customer service and digital marketing engagement. During his tenure he led the organization to become one of the leading global brands in the BPO sector, growing the company from 15,000 to 60,000 employees across 22 countries including a highly successful Latin American footprint. His tenure with the company culminated with the successful sale to Sitel in 2021. John Chapman was an operationally focused CFO and has extensive public company experience. He built a dynamic finance team to support the growth of Sykes Enterprises, helping grow the organization to approaching $2B in annual revenues during his tenure and contributing to its successful sale. Chuck Sykes and John Chapman join Anil Bhalla, Timothy Gravely, Mark Nelson-Smith and Dimitrius Oliveira on the current board at a time when Atento has entered an exciting new phase in its business strategy aimed at leading the way to Business Transformation Outsourcing. Announcement • Oct 28
Atento S.A. Appoints Alvaro Badiola Guerra as Group Cfo, Effective October 30, 2023 Atento S.A. has announced the appointment of Alvaro Badiola Guerra as its new Chief Financial Officer (CFO), effective October 30, 2023. In his capacity as a member of the Company's Executive Committee, Badiola will help further develop the company's financial strategy and enhance its market value. During his 30-year career, Badiola has held key finance roles, contributing to the success of companies such as BBVA, Telefnica, CEPSA, and Haya Real Estate. He has consistently achieved remarkable results, driving the transformation and enhancing the competitiveness of these companies. Badiola has also served as a board member for prominent organizations such as OCASO, CEPSA, and Medgaz. His experience in the Latin American market, where he has held various management positions with companies such as Telefnica, span the regions of Peru and Brazil. With this new appointment, Badiola will focus on strengthening the company's financial strategy, as well as implementing the post-restructuring business plan, for which it has secured commitment for 100% of its exit financing in early October, thereby guaranteeing additional liquidity for Atento to make future investments in the business. Sergio Passos, who has served as CFO since June 2022, played a pivotal role in the company's financial transformation and in the debt restructuring negotiations and implementation. He will continue to work at Atento for a period of transition and support. Announcement • Oct 17
Atento S.A., Annual General Meeting, Oct 19, 2023 Atento S.A., Annual General Meeting, Oct 19, 2023, at 10:00 Central European Standard Time. Location: offices of Loyens & Loeff Luxembourg S. r.l. at 18-20, rue Edward Steichen, L-2540 Luxembourg, Grand Duchy Of Luxembourg Luxembourg Agenda: To consider Approval of the report with respect to the previously declared conflicts of interests in ("the Special Report") and request of specific discharge to each Director of the Company, the Board of Directors and the Company with respect to such declared conflicts of interests. Decision to approve the Special Report and grant discharge to each Director of the Company, the Board of Directors and the Company with respect to such declared conflicts of interests; and to discuss other matters. Announcement • Oct 05
Atento S.A. Files Form 15 Atento S.A. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Ordinary Shares under the Securities Exchange Act of 1934, as amended. Announcement • Jul 04
Atento S.A. Contemplates Bankruptcy Atento S.A. is contemplating filing for bankruptcy, as of July 3, 2023. According to company press release, Company said that it is entering into a restructuring support agreement with certain key financial stakeholders to improve its capital structure and to address its debt service obligations failing which they company may seek bankruptcy protection. Announcement • Jun 08
Atento S.A. Announces Resignation of Roberto Rittes as Member of the Board of Directors Atento further announced that on June 2, 2023, Roberto Rittes tendered his resignation as a member of the Board of Directors, effective immediately. His resignation was not due to any disagreement with Atento. The Board of Directors of the Company fully appreciates Mr. Rittes’ service to the Board. Announcement • May 24
Atento S.A. Announces Appointment of Mark Nelson-Smith as New Board Member Atento S.A. announced the appointment by cooptation of Mark Nelson-Smith as a new member of the Board of Directors with immediate effect. As a highly experienced Non-Executive Director, Mark has a proven track record in corporate finance and a strong focus on business turnaround, providing value maximization and monetization. Mark's financial background and experience will support Atento's strategic objectives and the Board's goal of generating stakeholder value. With more than 25 years of experience, Mark Nelson-Smith has delivered impressive results in corporate finance throughout his professional career. Before joining Atento, Mark Nelson-Smith served as Non-Executive Director of ED&F Man, Cell C, Invitel and Primacom, among others. He also brings over a decade of experience working in corporate finance for UBS Investment Bank. Announcement • May 06
Atento S.A. Provides Earnings Guidance for the for the Year Ended December 31, 2022 Atento S.A. provided earnings guidance for the for the year ended December 31, 2022. For the period, the company expects Loss to be in the range of $180 million to $250 million. Announcement • Feb 16
Atento S.A. announced that it has received funding Atento S.A. announced that it raised funds in a round of funding on February 15, 2023. The company received participation from existing investors. The company raised total of $40 million. Price Target Changed • Dec 19
Price target decreased to US$10.17 Down from US$13.50, the current price target is an average from 3 analysts. New target price is 145% above last closing price of US$4.15. Stock is down 81% over the past year. The company is forecast to post a net loss per share of US$5.32 next year compared to a net loss per share of US$6.61 last year. Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: US$0.10 (up from US$0.83 loss in 3Q 2021). Revenue: US$348.9m (down 5.4% from 3Q 2021). Net income: US$1.50m (up US$13.2m from 3Q 2021). Profit margin: 0.4% (up from net loss in 3Q 2021). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Commercial Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 38% per year whereas the company’s share price has fallen by 33% per year. Board Change • Nov 16
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. CEO & Director Carlos López-Abadía is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Major Estimate Revision • Aug 19
Consensus EPS estimates fall by 39% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$1.50b to US$1.43b. Losses expected to increase from US$4.28 per share to US$5.96. Commercial Services industry in the US expected to see average net income growth of 23% next year. Consensus price target down from US$19.17 to US$13.50. Share price fell 8.8% to US$5.42 over the past week. Reported Earnings • Aug 05
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: US$0.83 loss per share (up from US$1.05 loss in 2Q 2021). Revenue: US$364.3m (down 4.8% from 2Q 2021). Net loss: US$12.1m (loss narrowed 18% from 2Q 2021). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 453%. Over the next year, revenue is forecast to grow 6.2%, compared to a 19% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jul 09
Consensus EPS estimates fall by 175% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$1.53b to US$1.50b. Losses expected to increase from US$1.55 per share to US$4.28. Commercial Services industry in the US expected to see average net income growth of 22% next year. Consensus price target down from US$27.67 to US$19.17. Share price fell 2.1% to US$9.29 over the past week. Price Target Changed • Jul 05
Price target decreased to US$22.83 Down from US$28.00, the current price target is an average from 3 analysts. New target price is 145% above last closing price of US$9.31. Stock is down 68% over the past year. The company is forecast to post a net loss per share of US$1.56 next year compared to a net loss per share of US$6.61 last year. Price Target Changed • Jun 24
Price target increased to US$30.00 Up from US$28.00, the current price target is an average from 2 analysts. New target price is 188% above last closing price of US$10.40. Stock is down 58% over the past year. The company is forecast to post a net loss per share of US$3.24 next year compared to a net loss per share of US$6.61 last year. Reported Earnings • May 05
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: US$6.38 loss per share (down from US$3.33 loss in FY 2020). Revenue: US$1.45b (up 2.6% from FY 2020). Net loss: US$90.3m (loss widened 93% from FY 2020). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 92%. Over the next year, revenue is forecast to grow 4.2%, compared to a 24% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman & Lead Director Bill Payne was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 02
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: US$6.38 loss per share (down from US$3.33 loss in FY 2020). Revenue: US$1.45b (up 2.6% from FY 2020). Net loss: US$90.3m (loss widened 93% from FY 2020). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 103%. Over the next year, revenue is forecast to grow 3.3%, compared to a 24% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Price Target Changed • Jan 19
Price target decreased to US$27.67 Down from US$30.00, the current price target is an average from 3 analysts. New target price is 6.6% above last closing price of US$25.96. Stock is up 41% over the past year. The company is forecast to post a net loss per share of US$3.16 next year compared to a net loss per share of US$3.33 last year. Reported Earnings • Nov 17
Third quarter 2021 earnings released: US$0.83 loss per share (vs US$0.93 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$370.5m (up 5.0% from 3Q 2020). Net loss: US$11.7m (loss narrowed 11% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Price Target Changed • Aug 09
Price target increased to US$19.73 Up from US$17.48, the current price target is an average from 3 analysts. New target price is 26% below last closing price of US$26.59. Stock is up 217% over the past year. Reported Earnings • Aug 08
Second quarter 2021 earnings released: US$1.05 loss per share (vs US$1.30 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$382.7m (up 22% from 2Q 2020). Net loss: US$14.7m (loss narrowed 20% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jul 28
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from US$1.50b to US$1.52b. Forecast EPS reduced from -US$0.33 to -US$0.64 per share. Commercial Services industry in the US expected to see average net income growth of 23% next year. Consensus price target up from US$17.48 to US$18.23. Share price was steady at US$25.28 over the past week. Reported Earnings • May 11
First quarter 2021 earnings released: US$1.43 loss per share (vs US$0.53 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: US$370.6m (down 1.3% from 1Q 2020). Net loss: US$20.2m (loss widened 172% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Apr 17
Consensus EPS estimates increase to US$0.34 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from US$1.44b to US$1.46b. Forecast to become profitable, with EPS estimate increasing from -US$0.61 to US$0.34. Commercial Services industry in the US expected to see average net income growth of 17% next year. Consensus price target up from US$12.11 to US$15.17. Share price rose 6.8% to US$23.62 over the past week. Reported Earnings • Mar 25
Full year 2020 earnings released: US$3.33 loss per share (vs US$5.63 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$1.41b (down 18% from FY 2019). Net loss: US$46.9m (loss narrowed 42% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 07
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Over the next year, revenue is forecast to grow 3.0%, compared to a 11% growth forecast for the Commercial Services industry in the US. Reported Earnings • Mar 07
Full year 2020 earnings released: US$3.16 loss per share (vs US$5.63 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$1.41b (down 18% from FY 2019). Net loss: US$46.8m (loss narrowed 42% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 20
New 90-day high: US$24.57 The company is up 124% from its price of US$10.98 on 20 November 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$166 per share. Is New 90 Day High Low • Feb 02
New 90-day high: US$18.75 The company is up 119% from its price of US$8.57 on 03 November 2020. The American market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$143 per share. Price Target Changed • Jan 11
Price target raised to US$13.50 Up from US$11.34, the current price target is an average from 3 analysts. The new target price is close to the current share price of US$13.59. Is New 90 Day High Low • Jan 01
New 90-day high: US$13.60 The company is up 46% from its price of US$9.33 on 02 October 2020. The American market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$143 per share. Major Estimate Revision • Dec 16
Analysts update estimates The company's losses in 2020 are expected to worsen with analysts lowering their consensus EPS forecasts from -US$2.21 to -US$2.64. Revenue estimate was approximately flat at US$1.38b. The Commercial Services industry in the US is expected to see an average net income growth of 16% next year. The consensus price target increased from US$11.34 to US$11.67. Share price is up 19% to US$12.19 over the past week. Is New 90 Day High Low • Dec 12
New 90-day high: US$12.72 The company is up 38% from its price of US$9.24 on 11 September 2020. The American market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$143 per share. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) also surpassed analyst estimates by 127%. Over the next year, revenue is expected to shrink by 4.8% compared to a 5.1% growth forecast for the Commercial Services industry in the US. Reported Earnings • Nov 15
Third quarter 2020 earnings released: US$0.93 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: US$352.8m (down 16% from 3Q 2019). Net loss: US$13.1m (down US$14.4m from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 67% per year but the company’s share price has only fallen by 37% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 29
New 90-day low: US$8.20 The company is down 2.0% from its price of US$8.35 on 31 July 2020. The American market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$49.67 per share. Price Target Changed • Oct 11
Price target lowered to US$16.68 Down from US$23.10, the current price target is an average from 3 analysts. The new target price is 87% above the current share price of US$8.93. Major Estimate Revision • Oct 11
Analysts update estimates The 2020 consensus revenue estimate increased from US$1.37b to US$1.39b. The company's losses in 2020 are expected to worsen with analysts lowering their EPS forecasts from -US$1.57 to -US$2.00. The Commercial Services industry in the US is expected to see an average net income growth of 4.7% next year. The consensus price target was lowered from US$23.10 to US$16.68. Share price is down by 4.2% to US$8.93 over the past week. Announcement • Jul 18
Atento S.A. to Report Q2, 2020 Results on Aug 05, 2020 Atento S.A. announced that they will report Q2, 2020 results at 5:00 PM, W. Europe Standard Time on Aug 05, 2020 Announcement • Jun 18
Atento Provides Update on NYSE Compliance Notification Atento S.A. announced that it received a May 13, 2020 letter from the New York Stock Exchange ("NYSE") notifying the Company that its Common Shares had traded below an average closing price of $1.00 over a consecutive 30-trading-day period, the minimum price threshold required under Section 802.01C of the NYSE Listed Company Manual. Under the NYSE's Continued Listing Standards, a Listed Company would have a period of six months following the receipt of the notification to regain compliance. In order to regain compliance, on the last trading day in any calendar month, the common stock must have (i) a closing price of at least $1.00 per share and (ii) an average closing price of at least $1.00 per share over the 30 consecutive trading-day period ending on the last trading day of such month. Pursuant to rule filing NYSE SR 2020-36, which became effective on April 21, 2020, the NYSE is providing a longer period of time for Companies to regain compliance by tolling the applicable compliance period through June 30, 2020 for companies that have been identified as below compliance with certain continued listing requirements, including its minimum $1.00 share price and $50 million market capitalization. The tolling period is now calculated as beginning on July 1, 2020, and Atento has now until January 1, 2021 to regain compliance. If the Company is unable to regain compliance, the NYSE would initiate procedures to suspend and delist the common stock. On May 28, 2020, Atento notified the NYSE of its intent to cure the aforementioned listing standard deficiency. The Company's common shares will continue to be listed and traded on the NYSE, subject to compliance with this and other NYSE's Continued Listing Standards and to other rights of the NYSE to delist the common shares. Currently, the Company is in compliance with all other NYSE Continued Listing Standards. The NYSE notification does not affect the Company's business operations or its SEC reporting requirements. As of June 15, 2020, the trailing 30 trading-day average closing price of Atento's common shares was already above $1.00 at $1.04, while in June, month-to-date, the average closing price was $1.30.