HighGravityData
Companies / FIS / Filing

FIS — Nov 4, 2024 release

Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001136893-24-000133
Open on SEC.gov ↗
Showing in the filing
Share repurchase goal
“approximately $4.0 billion”
Period
FY2024
Measure
Declared action
Source
Prose
All guidance in this release · 7
Share repurchase goal for FY2024
“approximately $4.0 billion”
Share repurchases for FY2024
“approximately $4.0 billion”
Dividend payout ratio
“35% of adjusted net earnings, excluding EMI”
Dividend payout ratio for the long term
“35% of adjusted net earnings, excluding EMI”
Adjusted EPS (Non-GAAP) for FY2024
“$5.15 - $5.20”
Revenue for FY2024
“$10,140 - $10,170”
Adjusted EBITDA (Non-GAAP) for FY2024
“$4,125 - $4,140”
Exhibit 99.1 · the passage around this item
… earlier in the release
Following the close of the Worldpay Sale on January 31, 2024, FIS retains a non-controlling 45% ownership interest in a new standalone joint venture, Worldpay Holdco, LLC ("Worldpay"), and records its proportionate share of Worldpay's earnings (loss) in the "Equity method investment earnings (loss), net of tax" ("EMI") line of the income statement. Capital Allocation Update The Company remains committed to shareholder returns and is reiterating its goal to repurchase approximately $4.0 billion of shares in 2024. The Company repurchased $500 million of shares in the third quarter, and has repurchased $3.0 billion of shares year-to-date in 2024. Additionally, the Company continues to target a dividend payout ratio of 35% of adjusted net earnings, excluding EMI. Third Quarter 2024 Financial Results On a GAAP basis, revenue increased 3% as compared to the prior-year period to approximately $2.6 billion. GAAP net earnings attributable to common stockholders from continuing operations were $246 million or $0.45 per diluted share. On an adjusted basis, revenue increased 4% as compared to the prior-year period primarily driven by 6% adjusted recurring revenue growth. Adjusted EBITDA was approximately $1.1 billion, and Adjusted EBITDA margin contracted by 140 basis points (bps) over the prior-year period to 41.3%, reflecting a negative impact from a difficult grow over in corporate expenses. Adjusted net earnings from continuing operations were $765 million, and adjusted EPS increased by 49% as compared to the prior-year period to $1.40 per diluted share. ($ millions, except per share data, unaudited) Three Months Ended September 30, % Adjusted Continuing Operations 2024 2023 1
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.