Global Payments Registers 3% Adjusted Net Revenue Growth In Q3

  • Global Payments Inc GPN reported third-quarter FY22 adjusted net revenue growth of 3% year-on-year (6% Y/Y in constant currency) to $2.06 billion, beating the consensus of $2.04 billion
  • The adjusted operating margin expanded 240 basis points to 45.2%.
  • Adjusted EPS of $2.48 missed the consensus of $2.49.
  • Global Payments held $2.2 billion in cash and equivalents.
  • Dividend: The board approved a dividend of $0.25 per share.
  • The board authorized an increase of the company's share repurchase program to a total available authorization of $1.5 billion.
  • CEO Jeff Sloan said, "We achieved these results while making substantial progress on our strategic and financing initiatives during the period. We received Hart-Scott-Rodino clearance in the United States for our acquisition of EVO Payments, Inc EVOP and divestiture of Netspend's consumer business, and we have now made regulatory filings in all jurisdictions, foreign and domestic, contemplated by the transactions."
  • Outlook: Global Payments continues to expect FY22 constant currency adjusted net revenue growth of 10% to 11% over 2021, excluding dispositions.
  • Global Payments reiterated the adjusted EPS outlook of $9.53 - $9.75, above the consensus of $9.51.
  • Price Action: GPN shares closed higher by 2.82% at $125.31 on Friday.
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