Global Payments’ Q1 Results Exceed Forecast, Revenue Up 7%
Global Payments has announced first-quarter results
for 2024, showcasing strong financial performance. The Georgia-based payment
firm reported diluted earnings per share (EPS) of $1.22 and adjusted EPS of
$2.59.
Revenue for the quarter reached $2.42 billion, an increase of 6%. Adjusted net revenue surged to $2.18 billion, a boost of 7% from the previous year, while adjusted EPS grew by 8% to $2.59. According to the press release, this performance
exceeded expectations despite macroeconomic uncertainties.
Cameron Bready, the President and Chief Executive
Officer, said: “We are pleased with our solid start to the year,
delivering high single-digit adjusted net revenue growth and mid-teens adjusted
earnings per share growth in the first quarter, excluding dispositions.”
“We are now beyond the anniversary of the
three transactions we completed in 2023, including the acquisition of EVO
Payments and the divestitures of the Netspend Consumer and Gaming Solutions
businesses. And we are continuing to make progress on further sharpening our
strategic focus and simplifying our business to support long-term sustainable
growth and success.”
Following the positive financial report, the New York Stock Exchange -listed firm expects adjusted net revenue for 2024 to range between $9.17 billion and $9.30 billion,
reflecting a growth rate of 6% to 7%. Global Payments also projects the
adjusted EPS to reach $11.54 to $11.70, representing a growth
rate of 11% to 12% over 2023.
Global Payments’ Forecasts
Josh Whipple, Global Payments’ Senior Executive Vice
President and Chief Financial Officer, mentioned: “While trends in the business remain stable, our outlook continues to reflect the potential for a slightly more tempered economic environment than we saw in 2023. Annual adjusted
operating margin for 2024 is still expected to expand by up to 50 basis
points.”
Global
Payments’ Board of Directors approved a dividend of $0.25 per share, payable on
June 28, 2024. Global Payments is a technology company that provides
software and services to customers worldwide. The company operates across North
America, Europe, Asia Pacific, and Latin America, with approximately 27,000 team
members globally.
Global Payments has announced first-quarter results
for 2024, showcasing strong financial performance. The Georgia-based payment
firm reported diluted earnings per share (EPS) of $1.22 and adjusted EPS of
$2.59.
Revenue for the quarter reached $2.42 billion, an increase of 6%. Adjusted net revenue surged to $2.18 billion, a boost of 7% from the previous year, while adjusted EPS grew by 8% to $2.59. According to the press release, this performance
exceeded expectations despite macroeconomic uncertainties.
Cameron Bready, the President and Chief Executive
Officer, said: “We are pleased with our solid start to the year,
delivering high single-digit adjusted net revenue growth and mid-teens adjusted
earnings per share growth in the first quarter, excluding dispositions.”
“We are now beyond the anniversary of the
three transactions we completed in 2023, including the acquisition of EVO
Payments and the divestitures of the Netspend Consumer and Gaming Solutions
businesses. And we are continuing to make progress on further sharpening our
strategic focus and simplifying our business to support long-term sustainable
growth and success.”
Following the positive financial report, the New York Stock Exchange -listed firm expects adjusted net revenue for 2024 to range between $9.17 billion and $9.30 billion,
reflecting a growth rate of 6% to 7%. Global Payments also projects the
adjusted EPS to reach $11.54 to $11.70, representing a growth
rate of 11% to 12% over 2023.
Global Payments’ Forecasts
Josh Whipple, Global Payments’ Senior Executive Vice
President and Chief Financial Officer, mentioned: “While trends in the business remain stable, our outlook continues to reflect the potential for a slightly more tempered economic environment than we saw in 2023. Annual adjusted
operating margin for 2024 is still expected to expand by up to 50 basis
points.”
Global
Payments’ Board of Directors approved a dividend of $0.25 per share, payable on
June 28, 2024. Global Payments is a technology company that provides
software and services to customers worldwide. The company operates across North
America, Europe, Asia Pacific, and Latin America, with approximately 27,000 team
members globally.
