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Shift4 Payments Stock Sheds After Missing On Q1 Earnings, Raised FY21 Guidance

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Shift4 Payments Stock Sheds After Missing On Q1 Earnings, Raised FY21 Guidance
  • Shift4 Payments Inc (NYSE: FOURreported first-quarter FY21 revenue growth of 20% year-on-year to $239.3 million, beating analyst consensus of $237.34 million. 
  • The end-to-end payment volume rose 30% Y/Y to $8 billion, and Gross revenue less network fees increased 23.3% Y/Y to $97.5 million.
  • Adjusted net loss per share of ($0.13) missed the analyst consensus of $0.
  • Adjusted EBITDA was $22.2 million.
  • The company held $844.9 million in cash and equivalents and used $1.7 million in operating cash flow.
  • Guidance: FY21 revenue guidance was raised from the previous $1.1 billion - $1.2 billion to the 1.2 billion - $1.3 billion, above the analyst consensus of $1.17 billion. The end-to-end payment volume guidance was raised from $36 billion - $38 billion to $44 billion - $46 billion.
  • The gross revenue less network fees outlook was raised from $450 million - $460 million to $480 million - $490 million. 
  • Adjusted EBITDA guidance was raised $155 million - $160 million to $165 million - $170 million.
  • Price action: FOUR shares fell 10.9% at $84.82 on the last check Thursday.
 

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