HighGravityData

Global Payments — Aug 5, 2026 release

Fiscal 2026 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001123360-26-000082
Open on SEC.gov ↗
Showing in the filing
Adjustments (2) (EPS)
“198%”
Period
FY2026
Measure
GAAP-tied
Source
Guidance table
All guidance in this release · 17
Capital returned to shareholders for FY2025
“approximately $7.5 billion”
Constant currency adjusted net revenue growt… for FY2026
“approximately 4% – 5%”
Normalized constant currency adjusted net re… for FY2026
“approximately 4% – 5%”
Adjusted earnings per share for FY2026
“$13.60 – $13.80”
Adjusted operating margin expansion (normali… for FY2026
“approximately 150 basis points”
Normalized adjusted operating margin expansion for FY2026
“approximately 150 basis points”
Capital returned to shareholders for FY2026
“more than $2 billion”
Dividend per share for FY2026
“$0.25”
GAAP revenues growth for FY2026
“70% to 71%”
Adjustments incl Worldpay Proforma (1) for FY2026
“(68)%”
FX impact (Revenues) for FY2026
“0%”
Constant currency (CC) adj net revenue for FY2026
“2% to 3%”
Dispositions for FY2026
“2%”
CC adjusted net revenue excluding dispositions for FY2026
“4% to 5%”
GAAP diluted EPS growth for FY2026
“(185)% to (187)%”
Adjustments (2) (EPS) for FY2026
“198%”
CC adjusted EPS growth for FY2026
“11% to 13%”
Exhibit 99.1 · full document
Global Payments Reports Second Quarter 2026 Results August 5, 2026 • Second quarter 2026 GAAP diluted earnings per share (EPS) of $0.05 and adjusted EPS of $3.46, an increase of 12%. • Second quarter 2026 GAAP revenue of $3.32 billion and adjusted net revenue of $3.16 billion. On a normalized basis 1 , adjusted net revenue increased 4%. • Updates 2026 outlook and reaffirms 2026 capital return plan. • $1.2 billion of capital returned to shareholders year-to-date. ATLANTA -- Global Payments Inc. (NYSE: GPN) today announced results for the second quarter ending June 30, 2026. “We delivered solid second quarter results that were consistent with our expectations, reflecting the resilience of our business model amidst the ongoing conflict in the Middle East,” said Cameron Bready, chief executive officer. “I am particularly pleased with the progress that we have made on the integration of Worldpay as we combine our complementary capabilities to better serve clients and partners globally.” Bready continued, “Through consistent execution and a sharp focus on commercial excellence, we continue to capitalize on growth opportunities while further differentiating Global Payments through feature-rich products and distinctive service experiences. This is evidenced by the accelerating adoption of our Genius platform, which continues to gain momentum across the markets we serve. At the same time, we remain at the forefront of innovation by leveraging AI across our ecosystem to enhance our solutions, elevate customer experiences, and drive greater operational efficiency, further strengthening our competitive position and long-term growth prospects.” Bready concluded, “We are pleased to have returned $1.2 billion in capital to shareholders year-to-date, exceeding 50% of our more than $2 billion plan for 2026, and we remain on track to return approximately $7.5 billion over the 2025 to 2027 time period.” 1 Normalized comparisons include the pre-acquisition results of Worldpay and exclude the results of Issuer Solutions and other divested businesses. 1 Second Quarter 2026 Summary • GAAP revenues were $3.32 billion and diluted earnings per share were $0.05. • Adjusted net revenues increased approximately 34% to $3.16 billion. On a normalized basis 1 , consistent with our full-year outlook, adjusted net revenue increased approximately 4%. Adjusted operating margin expanded 70 basis points on a normalized basis 1 to 42.0%. • Adjusted EPS increased 12% to $3.46. 2026 Outlook “Our second quarter financial results were consistent with expectations and marked our first full quarter operating as a pure-play commerce solutions provider,” said Josh Whipple, chief financial officer. “Our performance further validates the importance of our scale and distribution and our ability to deliver sustainable growth, margin expansion, and free cash flow.” Whipple continued, “Given the ongoing conflict in the Middle East and its impact on our travel portfolio, we now expect normalized 1 , constant currency adjusted net revenue growth of approximately 4% – 5% and adjusted earnings per share of $13.60 – $13.80 for the full year. We continue to expect normalized 1 adjusted operating margin expansion of approximately 150 basis points for the full year and to return more than $2 billion of capital to shareholders in 2026.” Capital Allocation Global Payments’ Board of Directors approved a dividend of $0.25 per share payable on September 25, 2026 to shareholders of record as of September 11, 2026. Conference Call Global Payments’ management will host a live audio webcast today, August 5, 2026, at 8:00 a.m. ET to discuss financial results and business highlights. The audio webcast, along with supplemental financial information, can be accessed via the investor relations page of the company’s website at investors.globalpayments.com. A replay of the audio webcast will be archived on the company's website following the live event. 2 Non-GAAP Financial Measures Global Payments supplements its reporting of revenue, operating income, operating margin, net income attributable to Global Payments, earnings per share, free cash flow, and free cash flow conversion with certain non-GAAP financial measures. These non-GAAP financial measures include adjusted revenue, adjusted operating income, adjusted operating margin, adjusted net income attributable to Global Payments, adjusted earnings per share, adjusted free cash flow, and adjusted free cash flow conversion. The constant currency growth measures adjust for the impact of exchange rates and are calculated using average exchange rates during the comparable period in the prior year. We believe these non-GAAP financial measures assist investors with evaluating the performance of our business. Management uses these non-GAAP financial measures to focus on the factors that it believes are relevant to managing our business, operations, and performance. Any non-GAAP financial measures should be considered in context with our reporting in accordance with GAAP and should not be considered in isolation or as a substitute for GAAP measures. Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP measure is included in the schedules to this release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the items that are excluded from the non-GAAP outlook measures. The company is unable to address the probable significance of the unavailable information. About Global Payments Global Payments Inc. (NYSE: GPN) is a leading payment technology and software company that powers commerce for businesses of all sizes worldwide. We help businesses grow with confidence by delivering innovative solutions that enable seamless payment acceptance, smarter operations and exceptional client experiences – online, in store and everywhere in between. With its global reach, local expertise and scale, Global Payments ® manages trillions in payments volume and billions of transactions across more than 175 countries. Headquartered in Atlanta, Georgia, Global Payments is a Fortune 500 ® company and a member of the S&P 500. Learn more at company.globalpayments.com. Forward-Looking Statements This earnings release and associated webcast contain forward-looking statements, which are made pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements we make regarding our business strategy and means to implement the strategy; measures of future financial performance or results of operations; operating metrics such as shares outstanding and capital expenditures; liquidity and deleveraging plans and capital available for allocation; the strategic rationale and anticipated benefits of acquisitions or dispositions, including our acquisition of Worldpay and divestiture of our Issuer Solutions business; the development and introduction of new services and expansion of our business; 3 and the company’s plans, objectives, expectations and intentions. Statements can generally be identified as forward-looking because they include words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “estimates,” “forecast,” “budget,” “could,” “should,” “may,” “will,” “would,” or words of similar meaning. Forward-looking statements are based on current expectations, estimates and projections about our business and the industry and geographies in which we operate, and on the beliefs of, and assumptions made by, our management. Although we believe that the plans and expectations reflected in any forward-looking statements are based on reasonable assumptions, actual events, outcomes and results may differ materially from what is expressed or forecasted in forward-looking statements. Accordingly, we cannot guarantee or give assurance that our plans and expectations will be achieved. In addition to factors previously disclosed in Global Payments’ reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: difficulties and delays in integrating the Worldpay business into that of Global Payments; failing to fully realize anticipated cost savings and other anticipated benefits of the acquisition of Worldpay, either when expected or at all; business disruptions from the acquisition of Worldpay that may harm our business or operations; failing to comply with the applicable requirements of Visa, Mastercard or other payment networks or card schemes or changes in those requirements; our ability to retain and hire key personnel; uncertainty as to the long-term value of our common stock following the acquisition of Worldpay, including the dilution caused by issuance of additional shares of Global Payments’ common stock in connection with the acquisition of Worldpay; the continued availability of capital and financing; the effects of global economic, political, market, health and social events or other conditions; the imposition of tariffs and other trade policies and the resulting impacts on market volatility and global trade; macroeconomic pressures and general uncertainty regarding the overall future economic environment; foreign currency exchange, inflation and rising interest rate risks; the effect of a security breach or operational failure on our business; the ability to maintain Visa and Mastercard registration and financial institution sponsorship; increased competition in the markets in which we operate; our ability to safeguard our data; risks associated with our indebtedness; the effects of new or changes in current laws, regulations, credit card association rules or other industry standards on us or our partners and customers; and other events beyond our control, and other factors included in the “Risk Factors” section in our most recent Annual Report on Form 10-K and in other documents that we file with the SEC, which are available at https://www.sec.gov . These cautionary statements qualify all of our forward-looking statements, and readers are cautioned not to place undue reliance on forward-looking statements. Our forward-looking statements speak only 4 as of the date they are made and should not be relied upon as representing our plans and expectations as of any subsequent date. While we may elect to update or revise forward-looking statements at some time in the future, we specifically disclaim any obligation and do not intend to publicly update or revise these forward-looking statements, except as required by law. Investor contact: investor.relations@globalpay.com Media contact: media.relations@globalpay.com Nathan Rozof, CFA Matt Cochran Source: Global Payments Inc. 5 SCHEDULE 1 CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands, except per share data) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 % Change 2026 2025 % Change Revenues $ 3,320,791  $ 1,969,287  68.6  % $ 6,290,473  $ 3,789,605  66.0  % Operating expenses: Cost of service 1,293,879  501,772  157.9  % 2,567,493  996,947  157.5  % Selling, general and administrative 1,689,791  1,041,256  62.3  % 3,401,505  1,998,433  70.2  % Impairment of goodwill —  33,218  nm —  33,218  nm Gain on business disposition —  (267) nm —  (4,260) nm 2,983,670  1,575,979  5,968,998  3,024,338  Operating income (loss) 337,121  393,308  (14.3) % 321,475  765,267  (58.0) % Interest and other income 44,700  35,533  25.8  % 78,220  73,573  6.3  % Interest and other expense (277,538) (152,538) 81.9  % (519,907) (301,078) 72.7  % (232,838) (117,005) (441,687) (227,505) Income (loss) from continuing operations before income taxes and equity in income of equity method investments 104,283  276,303  (62.3) % (120,212) 537,762  (122.4) % Income tax expense (benefit) (4,926) 40,877  (112.1) % (16,766) 84,647  (119.8) % Income (loss) from continuing operations before equity in income of equity method investments 109,209  235,426  (53.6) % (103,446) 453,115  (122.8) % Equity in income of equity method investments, net of tax 21,678  19,961  8.6  % 41,508  38,210  8.6  % Income (loss) from continuing operations 130,887  255,387  (61,938) 491,325  Income (loss) from discontinued operations, net of tax (101,963) (9,289) (1,688,190) 67,545  Net income (loss) 28,924  246,098  (88.2) % (1,750,128) 558,870  (413.2) % Net income attributable to noncontrolling interests (15,953) (4,458) 257.9  % (36,779) (11,496) 219.9  % Net income (loss) attributable to Global Payments $ 12,971  $ 241,640  (94.6) % $ (1,786,907) $ 547,374  (426.5) % Basic earnings (loss) per share attributable to Global Payments: Continued operations $ 0.43  $ 1.03  (58.3) % $ (0.36) $ 1.96  (118.4) % Discontinued operations $ (0.38) $ (0.04) nm $ (6.22) $ 0.27  nm Total basic earnings (loss) per share attributable to Global Payments $ 0.05  $ 0.99  (94.9) % $ (6.58) $ 2.23  (395.1) % Diluted earnings (loss) per share attributable to Global Payments: Continued operations $ 0.43  $ 1.03  (58.3) % $ (0.36) $ 1.96  (118.4) % Discontinued operations $ (0.38) $ (0.04) nm $ (6.22) $ 0.27  nm Total diluted earnings (loss) per share attributable to Global Payments $ 0.05  $ 0.99  (94.9) % $ (6.58) $ 2.23  (395.1) % Note: nm = not meaningful. 6 SCHEDULE 2 NON-GAAP FINANCIAL MEASURES (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands, except per share data) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 % Change 2026 2025 % Change Adjusted net revenue $ 3,159,074  $ 2,361,234  33.8  % $ 6,015,363  $ 4,566,061  31.7  % Adjusted operating income $ 1,325,499  $ 1,052,749  25.9  % $ 2,466,126  $ 1,986,636  24.1  % Adjusted net income attributable to Global Payments $ 934,305  $ 754,189  23.9  % $ 1,743,241  $ 1,419,480  22.8  % Adjusted diluted earnings per share attributable to Global Payments $ 3.46  $ 3.10  11.7  % $ 6.42  $ 5.79  11.0  % ---------------------------------------------------------------------------------- Note: Financials include the impact of the sold Issuer Solutions business. See Schedules 6 and 7 for a reconciliation of each non-GAAP financial measure to the most comparable GAAP measure, Schedules 8 and 9 for a reconciliation of adjusted net revenue and adjusted operating income by segment and supplemental non-GAAP information to the most comparable GAAP measure, and Schedule 10 for a discussion of non-GAAP financial measures. 7 SCHEDULE 3 SEGMENT INFORMATION (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) Three Months Ended June 30, 2026 June 30, 2025  % Change GAAP Non-GAAP GAAP Non-GAAP GAAP Non-GAAP Revenues: Enterprise $ 838,301  $ 838,149  $ 149,022  $ 147,502  462.5  % 468.2  % Platforms 652,768  627,534  287,774  221,119  126.8  % 183.8  % SMB 1,648,952  1,512,621  1,333,423  1,276,382  23.7  % 18.5  % Issuer Solutions —  —  —  535,682  nm nm Other revenues 180,770  180,770  199,068  199,246  (9.2) % (9.3) % Intersegment eliminations —  —  —  (18,696) nm nm $ 3,320,791  $ 3,159,074  $ 1,969,287  $ 2,361,234  68.6  % 33.8  % Operating income (loss): Enterprise $ 247,593  $ 652,759  $ 84,305  $ 113,364  193.7  % 475.8  % Platforms 192,794  283,633  120,248  133,646  60.3  % 112.2  % SMB 628,460  891,218  669,187  829,778  (6.1) % 7.4  % Issuer Solutions —  —  —  265,472  nm nm Corporate/Other (731,726) (502,111) (447,481) (289,511) 63.5  % 73.4  % Impairment of goodwill —  —  (33,218) —  nm nm Gain on business disposition —  —  267  —  nm nm $ 337,121  $ 1,325,499  $ 393,308  $ 1,052,749  (14.3) % 25.9  % Six Months Ended June 30, 2026 June 30, 2025  % Change GAAP Non-GAAP GAAP Non-GAAP GAAP Non-GAAP Revenues: Enterprise $ 1,560,690  $ 1,560,310  $ 284,499  $ 281,817  448.6  % 453.7  % Platforms 1,220,854  1,172,470  561,906  432,462  117.3  % 171.1  % SMB 3,152,293  2,881,139  2,546,981  2,436,927  23.8  % 18.2  % Issuer Solutions —  45,978  —  1,053,450  nm (95.6) % Other revenues 356,636  357,195  396,219  396,506  (10.0) % (9.9) % Intersegment eliminations —  (1,731) —  (35,101) nm (95.1) % $ 6,290,473  $ 6,015,363  $ 3,789,605  $ 4,566,061  66.0  % 31.7  % Operating income (loss): Enterprise $ 409,088  $ 1,216,228  $ 154,835  $ 213,099  164.2  % 470.7  % Platforms 359,772  540,381  235,451  262,126  52.8  % 106.2  % SMB 1,180,663  1,698,802  1,252,636  1,567,522  (5.7) % 8.4  % Issuer Solutions —  19,580  —  510,041  nm (96.2) % Corporate/Other (1,628,048) (1,008,864) (848,697) (566,152) 91.8  % 78.2  % Impairment of goodwill —  —  (33,218) —  nm nm Gain on business disposition —  —  4,260  —  nm nm $ 321,475  $ 2,466,126  $ 765,267  $ 1,986,636  (58.0) % 24.1  % ---------------------------------------------------------------------------------- See Schedules 8 and 9 for a reconciliation of adjusted net revenue and adjusted operating income by segment to the most comparable GAAP measures and Schedule 10 for a discussion of non-GAAP financial measures. Note: Amounts may not sum due to rounding. Note: nm = not meaningful. 8 SCHEDULE 4 CONSOLIDATED BALANCE SHEETS (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands, except share data) June 30, 2026 December 31, 2025 ASSETS Current assets: Cash and cash equivalents $ 5,408,962  $ 8,336,402  Accounts receivable, net 1,576,986  784,174  Settlement processing assets 3,619,252  1,476,543  Prepaid expenses and other current assets 1,064,631  802,018  Current assets of discontinued operations —  1,203,534  Total current assets 11,669,831  12,602,671  Goodwill 26,984,810  17,076,624  Other intangible assets, net 19,409,900  4,231,227  Property and equipment, net 2,134,832  1,501,763  Deferred income taxes 344,836  171,430  Notes receivable 842,739  816,810  Other noncurrent assets 2,186,839  1,868,788  Noncurrent assets of discontinued operations —  15,069,171  Total assets $ 63,573,787  $ 53,338,484  LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current liabilities: Settlement lines of credit $ 1,136,764  $ 345,007  Current portion of long-term debt 925,032  1,920,792  Accounts payable and accrued liabilities 3,707,246  2,542,627  Settlement processing obligations 5,934,765  1,720,608  Income taxes payable 2,449,991  117,509  Current liabilities of discontinued operations —  810,301  Total current liabilities 14,153,798  7,456,844  Long-term debt 21,493,294  19,541,512  Deferred income taxes 2,887,172  1,605,504  Other noncurrent liabilities 1,069,873  522,121  Noncurrent liabilities of discontinued operations —  433,022  Total liabilities 39,604,137  29,559,003  Commitments and contingencies Redeemable noncontrolling interests 210,757  201,003  Equity: Preferred stock, no par value; 5,000,000 shares authorized and none issued —  —  Common stock, no par value; 400,000,000 shares authorized at June 30, 2026 and December 31, 2025; 265,909,443 shares issued and outstanding at June 30, 2026 and 236,692,592 shares issued and outstanding at December 31, 2025 —  —  Paid-in capital 19,405,166  17,078,652  Retained earnings 4,014,698  5,936,322  Accumulated other comprehensive loss (309,157) (126,207) Total Global Payments shareholders’ equity 23,110,707  22,888,767  Nonredeemable noncontrolling interests 648,186  689,711  Total equity 23,758,893  23,578,478  Total liabilities, redeemable noncontrolling interests and equity $ 63,573,787  $ 53,338,484  9 SCHEDULE 5 CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) Six Months Ended June 30, 2026 June 30, 2025 Cash flows from operating activities: Net income (loss) $ (1,750,128) $ 558,870  Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization of property and equipment 244,072  225,105  Amortization of acquired intangibles 1,504,738  551,074  Amortization of capitalized contract costs 51,796  66,966  Share-based compensation expense 57,193  79,550  Provision for operating losses and credit losses 72,783  41,880  Noncash lease expense 35,612  25,163  Deferred income taxes (881,242) 95,584  Paid-in-kind interest capitalized to principal of notes receivable (33,396) (38,961) Equity in income of equity method investments, net of tax (41,531) (38,299) Distributions received on investments —  7,512  Impairment of goodwill —  33,218  Gain on business disposition (22,174) (4,260) Other, net 49,937  19,621  Changes in operating assets and liabilities, net of the effects of business combinations: Accounts receivable (141,531) (102,565) Prepaid expenses and other assets (288,990) (124,058) Income taxes payable 2,333,824  (15,461) Accounts payable and other liabilities (817,165) (8,290) Net cash provided by operating activities 373,798  1,372,649  Cash flows from investing activities: Business combinations and other acquisitions, net of cash and restricted cash acquired (1,421,470) (205,825) Capital expenditures (497,000) (279,747) Principal payment received on notes receivable 8,750  8,750  Net cash from sales of businesses 7,362,347  —  Net cash provided by (used in) investing activities 5,452,627  (476,822) Cash flows from financing activities: Changes in funds held for customers (24,077) (118,967) Changes in settlement processing assets and obligations, net (694,176) 630,244  Net borrowings from settlement lines of credit 827,464  87,551  Net borrowings from commercial paper notes 674,393  797,732  Proceeds from long-term debt 9,331,133  2,755,112  Repayments of long-term debt (18,055,394) (3,769,614) Payments of debt issuance costs (9,798) (40,512) Repurchases of common stock (1,099,942) (691,089) Proceeds from stock issued under share-based compensation plans 12,331  16,244  Common stock repurchased - share-based compensation plans (33,795) (37,372) Distributions to noncontrolling interests (37,781) (30,095) Dividends paid (134,717) (121,501) Net cash used in financing activities (9,244,359) (522,267) Effect of exchange rate changes on cash, cash equivalents and restricted cash (5,586) 230,353  Increase (decrease) in cash, cash equivalents and restricted cash (3,423,520) 603,913  Cash, cash equivalents and restricted cash, beginning of the period 9,116,414  2,735,975  Cash, cash equivalents and restricted cash, end of the period $ 5,692,894  $ 3,339,888  10 SCHEDULE 6 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands, except per share data) Three Months Ended June 30, 2026 GAAP Discontinued Operations Net Revenue Adjustments (1) Earnings Adjustments (2) Income Taxes on Adjustments (3) Non-GAAP Revenues $ 3,320,791  $ —  $ (161,717) $ —  $ —  $ 3,159,074  Operating income (loss) $ 337,121  $ (5,178) $ (11) $ 993,568  $ —  $ 1,325,499  Net income (loss) attributable to Global Payments $ 12,971  $ (11) $ 995,062  $ (73,717) $ 934,305  Diluted earnings (loss) per share attributable to Global Payments: $ 0.05  $ 3.46  Diluted weighted-average shares outstanding 270,115  270,115  Three Months Ended June 30, 2025 GAAP Discontinued Operations Net Revenue Adjustments (1) Earnings Adjustments (2) Income Taxes on Adjustments (3) Non-GAAP Revenues $ 1,969,287  $ 615,132  $ (223,184) $ —  $ —  $ 2,361,234  Operating income (loss) $ 393,308  $ 253,810  $ 343  $ 405,288  $ —  $ 1,052,749  Net income (loss) attributable to Global Payments $ 241,640  $ 343  $ 394,314  $ 117,893  $ 754,189  Diluted earnings (loss) per share attributable to Global Payments: $ 0.99  $ 3.10  Diluted weighted-average shares outstanding 243,577  243,577  ---------------------------------------------------------------------------------- (1) Include adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company. Net revenue adjustments also include eliminations for services provided by discontinued operations to our continuing operations. (2) For the three months ended June 30, 2026, earnings adjustments to operating income (inclusive of discontinued operations) include $764.6 million in cost of service (COS) and $229.0 million in selling, general and administrative expenses (SG&A). Adjustments to COS include amortization of acquired intangibles of $757.6 million, acquisition, integration and separation expenses of $0.3 million, and other items of $6.7 million. Adjustments to SG&A include acquisition, integration and separation expenses of $157.4 million, facilities exit charges of $1.7 million, charges for business transformation activities of $40.1 million, employee termination benefits of $25.3 million, and other items of $4.5 million. For the three months ended June 30, 2025, earnings adjustments to operating income (inclusive of discontinued operations) included $335.6 million of amortization of acquired intangibles in COS and $176.9 million in SG&A. Adjustments to SG&A included acquisition, integration and separation expenses of $24.4 million, facilities exit charges of $5.1 million, charges for business transformation activities of $109.6 million (including non-cash write-down), modernization charges of $8.4 million, employee termination benefits of $24.5 million, and other items of $4.9 million. Earnings adjustments for the three months ended June 30, 2025, also include the add back of $140.1 million of depreciation and amortization (D&A) of long-lived assets which is no longer recognized under GAAP once the assets are classified as discontinued operations. For the three months ended June 30, 2025, earnings adjustments to operating income also included a $33.2 million noncash goodwill impairment charge in connection with the classification of our Issuer Solutions business as assets held for sale, and the elimination of a $0.3 million gain on business dispositions. (3) Income taxes on adjustments reflect the tax effect of earnings adjustments to income before income taxes. The tax rate used in determining the tax impact of earnings adjustments is either the jurisdictional statutory rate in effect at the time of the adjustment or the jurisdictional expected annual effective tax rate for the period, depending on the nature and timing of the adjustment. For the three months ended June 30, 2025, income taxes on adjustments include the removal of $202.0 million in tax charges related to business dispositions. See "Non-GAAP Financial Measures" discussion on Schedule 10. Note: Amounts may not sum due to rounding. 11 SCHEDULE 7 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands, except per share data) Six Months Ended June 30, 2026 GAAP Discontinued Operations Net Revenue Adjustments (1) Earnings Adjustments (2) Income Taxes on Adjustments (3) Non-GAAP Revenues $ 6,290,473  $ 54,259  $ (329,370) $ —  $ —  $ 6,015,363  Operating income (loss) $ 321,475  $ 14,081  $ (12) $ 2,130,582  $ —  $ 2,466,126  Net income (loss) attributable to Global Payments $ (1,786,907) $ (12) $ 2,150,303  $ 1,379,857  $ 1,743,241  Diluted earnings (loss) per share attributable to Global Payments: $ (6.58) $ 6.42  Diluted weighted-average shares outstanding 271,564  271,564  Six Months Ended June 30, 2025 GAAP Discontinued Operations Net Revenue Adjustments (1) Earnings Adjustments (2) Income Taxes on Adjustments (3) Non-GAAP Revenues $ 3,789,605  $ 1,213,646  $ (437,188) $ —  $ —  $ 4,566,061  Operating income (loss) $ 765,267  $ 352,736  $ 637  $ 867,997  $ —  $ 1,986,636  Net income (loss) attributable to Global Payments $ 547,374  $ 637  $ 854,056  $ 17,414  $ 1,419,480  Diluted earnings (loss) per share attributable to Global Payments: $ 2.23  $ 5.79  Diluted weighted-average shares outstanding 245,359  245,359  ---------------------------------------------------------------------------------- (1) Include adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company. Net revenue adjustments also include eliminations for services provided by discontinued operations to our continuing operations. (2) For the six months ended June 30, 2026, earnings adjustments to operating income (inclusive of discontinued operations) include $1,523.5 million in COS and $629.2 million in SG&A. Adjustments to COS include amortization of acquired intangibles of $1,504.6 million, acquisition, integration and separation expenses of $0.5 million, and other items of $18.4 million. Adjustments to SG&A include acquisition, integration and separation expenses of $448.6 million, facilities exit charges of $3.5 million, charges for business transformation activities of $136.0 million, modernization charges of $1.4 million, employee termination benefits of $32.2 million, and other items of $7.5 million. For the six months ended June 30, 2026, earnings adjustments to operating income also include the elimination of a $22.2 million gain on business dispositions for Discontinued Operations. For the six months ended June 30, 2025, earnings adjustments to operating income (inclusive of discontinued operations) included $664.9 million of amortization of acquired intangibles in COS and $314.3 million in SG&A. Adjustments to SG&A included acquisition, integration and separation expenses of $52.8 million, facilities exit charges of $9.8 million, charges for business transformation activities of $175.8 million (including non-cash write-down), modernization charges of $17.8 million, employee termination benefits of $24.6 million, charges related to the resolution of a certain legal matter of $18.3 million, and other items of $15.2 million. Earnings adjustments for the six months ended, June 30, 2025, also include the add back of $140.1 million of D&A of long-lived assets which is no longer recognized under GAAP once the assets are classified as discontinued operations. For the six months ended June 30, 2025, earnings adjustments to operating income also included a $33.2 million noncash goodwill impairment charge in connection with the classification of our Issuer Solutions business as assets held for sale, and the elimination of a $4.3 million gain on business dispositions. (3) Income taxes on adjustments reflect the tax effect of earnings adjustments to income before income taxes. The tax rate used in determining the tax impact of earnings adjustments is either the jurisdictional statutory rate in effect at the time of the adjustment or the jurisdictional expected annual effective tax rate for the period, depending on the nature and timing of the adjustment. For the six months ended June 30, 2026, income taxes on adjustments include the removal of $1,573.8 million in tax charges related to discontinued operations. In addition, for the six months ended June 30, 2025, income taxes on adjustments include the removal of $202.0 million in tax charges related to business dispositions. See "Non-GAAP Financial Measures" discussion on Schedule 10. Note: Amounts may not sum due to rounding. 12 SCHEDULE 8 RECONCILIATION OF SEGMENT NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) Three Months Ended June 30, 2026 GAAP Discontinued Operations Net Revenue Adjustments (1) Earnings Adjustments (2) Non-GAAP Revenues: Enterprise $ 838,301  $ —  $ (153) $ —  $ 838,149  Platforms 652,768  —  (25,234) —  627,534  SMB 1,648,952  —  (136,330) —  1,512,621  Other revenues 180,770  —  —  —  180,770  $ 3,320,791  $ —  $ (161,717) $ —  $ 3,159,074  Operating income (loss): Enterprise $ 247,593  $ —  $ (11) $ 405,177  $ 652,759  Platforms 192,794  —  —  90,839  283,633  SMB 628,460  —  —  262,758  891,218  Issuer Solutions —  (5,178) —  5,178  —  Corporate/Other (731,726) —  —  229,616  (502,111) $ 337,121  $ (5,178) $ (11) $ 993,568  $ 1,325,499  Three Months Ended June 30, 2025 GAAP Discontinued Operations Net Revenue Adjustments (1) Earnings Adjustments (2) Non-GAAP Revenues: Enterprise $ 149,022  $ —  $ (1,520) $ —  $ 147,502  Platforms 287,774  —  (66,656) —  221,119  SMB 1,333,423  —  (57,041) —  1,276,382  Issuer Solutions —  615,132  (79,450) —  535,682  Other revenues 199,068  —  178  —  199,246  Intersegment eliminations —  —  (18,696) —  (18,696) $ 1,969,287  $ 615,132  $ (223,184) $ —  $ 2,361,234  Operating income (loss): Enterprise $ 84,305  $ —  $ —  $ 29,059  $ 113,364  Platforms 120,248  —  —  13,398  133,646  SMB 669,187  —  —  160,590  829,778  Issuer Solutions —  253,810  343  11,319  265,472  Corporate/Other (447,481) —  —  157,971  (289,511) Impairment of goodwill (33,218) —  —  33,218  —  Gain on business disposition 267  —  —  (267) —  $ 393,308  $ 253,810  $ 343  $ 405,288  $ 1,052,749  ------------------------------------------------------------------------------------------ (1) Include adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company. Net revenue adjustments also include eliminations for services provided by discontinued operations to our continuing operations. (2) For the three months ended June 30, 2026, earnings adjustments to operating income (inclusive of discontinued operations) include $764.6 million in COS and $229.0 million in SG&A. Adjustments to COS include amortization of acquired intangibles of $757.6 million, acquisition, integration and separation expenses of $0.3 million, and other items of $6.7 million. Adjustments to SG&A include acquisition, integration and separation expenses of $157.4 million, facilities exit charges of $1.7 million, charges for business transformation activities of $40.1 million, employee termination benefits of $25.3 million, and other items of $4.5 million. For the three months ended June 30, 2025, earnings adjustments to operating income (inclusive of discontinued operations) included $335.6 million of amortization of acquired intangibles in COS and $176.9 million in SG&A. Adjustments to SG&A included acquisition, integration and separation expenses of $24.4 million, facilities exit charges of $5.1 million, charges for business transformation activities of $109.6 million (including non-cash write-down), modernization charges of $8.4 million, employee termination benefits of $24.5 million, and other items of $4.9 million. Earnings adjustments for the three months ended June 30, 2025, also include the add back of $140.1 million of D&A of long-lived assets which is no longer recognized under GAAP once the assets are classified as discontinued operations. For the three months ended June 30, 2025, earnings adjustments to operating income also included a $33.2 million noncash goodwill impairment charge in connection with the classification of our Issuer Solutions business as assets held for sale, and the elimination of a $0.3 million gain on business dispositions. See "Non-GAAP Financial Measures" discussion on Schedule 10. Note: Amounts may not sum due to rounding. 13 SCHEDULE 9 RECONCILIATION OF SEGMENT NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) Six Months Ended June 30, 2026 GAAP Discontinued Operations Net Revenue Adjustments (1) Earnings Adjustments (2) Non-GAAP Revenues: Enterprise $ 1,560,690  $ —  $ (380) $ —  $ 1,560,310  Platforms 1,220,854  —  (48,384) —  1,172,470  SMB 3,152,293  —  (271,154) —  2,881,139  Issuer Solutions —  54,259  (8,281) —  45,978  Other revenues 356,636  —  560  —  357,195  Intersegment eliminations —  —  (1,731) —  (1,731) $ 6,290,473  $ 54,259  $ (329,370) $ —  $ 6,015,363  Operating income (loss): Enterprise $ 409,088  $ —  $ (23) $ 807,164  $ 1,216,228  Platforms 359,772  —  —  180,609  540,381  SMB 1,180,663  —  —  518,139  1,698,802  Issuer Solutions —  (8,093) 11  27,662  19,580  Corporate/Other (1,628,048) —  —  619,183  (1,008,864) Gain on business disposition —  22,174  —  (22,174) —  $ 321,475  $ 14,081  $ (12) $ 2,130,582  $ 2,466,126  Six Months Ended June 30, 2025 GAAP Discontinued Operations Net Revenue Adjustments (1) Earnings Adjustments (2) Non-GAAP Revenues: Enterprise $ 284,499  $ —  $ (2,681) $ —  $ 281,817  Platforms 561,906  —  (129,444) —  432,462  SMB 2,546,981  —  (110,055) —  2,436,927  Issuer Solutions —  1,213,646  (160,196) —  1,053,450  Other revenues 396,219  —  288  —  396,506  Intersegment eliminations —  —  (35,101) —  (35,101) $ 3,789,605  $ 1,213,646  $ (437,188) $ —  $ 4,566,061  Operating income (loss): Enterprise $ 154,835  $ —  $ —  $ 58,264  $ 213,099  Platforms 235,451  —  —  26,675  262,126  SMB 1,252,636  —  (92) 314,977  1,567,522  Issuer Solutions —  352,736  729  156,577  510,041  Corporate/Other (848,697) —  —  282,546  (566,152) Impairment of goodwill (33,218) —  —  33,218  —  Gain on business disposition 4,260  —  —  (4,260) —  $ 765,267  $ 352,736  $ 637  $ 867,997  $ 1,986,636  ---------------------------------------------------------------------------------- (1) Include adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company. Net revenue adjustments also include eliminations for services provided by discontinued operations to our continuing operations. (2) For the six months ended June 30, 2026, earnings adjustments to operating income (inclusive of discontinued operations) include $1,523.5 million in COS and $629.2 million in SG&A. Adjustments to COS include amortization of acquired intangibles of $1,504.6 million, acquisition, integration and separation expenses of $0.5 million, and other items of $18.4 million. Adjustments to SG&A include acquisition, integration and separation expenses of $448.6 million, facilities exit charges of $3.5 million, charges for business transformation activities of $136.0 million, modernization charges of $1.4 million, employee termination benefits of $32.2 million, and other items of $7.5 million. For the six months ended June 30, 2026, earnings adjustments to operating income also include the elimination of a $22.2 million gain on business dispositions for Discontinued Operations. For the six months ended June 30, 2025, earnings adjustments to operating income (inclusive of discontinued operations) included $664.9 million of amortization of acquired intangibles in COS and $314.3 million in SG&A. Adjustments to SG&A included acquisition, integration and separation expenses of $52.8 million, facilities exit charges of $9.8 million, charges for business transformation activities of $175.8 million (including non-cash write-down), modernization charges of $17.8 million, employee termination benefits of $24.6 million, charges related to the resolution of a certain legal matter of $18.3 million, and other items of $15.2 million. Earnings adjustments for the six months ended, June 30, 2025, also include the add back of $140.1 million of D&A of long-lived assets which is no longer recognized under GAAP once the assets are classified as discontinued operations. For the six months ended June 30, 2025, earnings adjustments to operating income also included a $33.2 million noncash goodwill impairment charge in connection with the classification of our Issuer Solutions business as assets held for sale, and the elimination of a $4.3 million gain on business dispositions. See "Non-GAAP Financial Measures" discussion on Schedule 10. Note: Amounts may not sum due to rounding. 14 SCHEDULE 10 OUTLOOK SUMMARY (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In millions, except per share data) 2026 Growth Revenues: GAAP revenues 70% to 71% Adjustments incl Worldpay Proforma (1) (68)% FX impact 0% Constant currency (CC) adj net revenue 2% to 3% Dispositions 2% CC adjusted net revenue excluding dispositions 4% to 5% Earnings Per Share: GAAP diluted EPS (185)% to (187)% Adjustments (2) 198% FX impact 0% CC adjusted EPS 11% to 13% (1) Include adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefit to the company. Amounts also include adjustments to eliminate the effect of acquisition accounting fair value adjustments for software-related contract liabilities associated with acquired businesses. Net revenue adjustments also include the effect of discontinued operations. (2) Adjustments to 2025 GAAP diluted EPS include the removal of 1) software-related contract liability adjustments described above of $0.01, 2) acquisition related amortization expense of $4.42, 3) acquisition, integration, and separation expense of $1.06, 4) charges for business transformation activities of $1.27, 5) employee termination benefits of $0.10, 6) modernization charges of $0.12, 7) facilities exit charges of $0.06, 8) goodwill impairment of $0.11, 9) gain/loss on business dispositions of $(0.49), 10) add back of D&A of long-lived assets which is no longer recognized under GAAP once the assets are classified as discontinued operations of $(1.43), 11) other income and expense of $0.19, 12) equity method investment earnings from our interest in a private equity investment fund of $(0.20), 13) discrete tax items of $1.18, 14) other items of $0.04, 15) the effect of noncontrolling interests and income taxes, as applicable. NON-GAAP FINANCIAL MEASURES Global Payments supplements revenues, operating income, operating margin, net income attributable to Global Payments, and earnings per share (EPS) determined in accordance with U.S. GAAP by providing these measures with certain adjustments (such measures being non-GAAP financial measures) in this document to assist with evaluating our performance. In addition to GAAP measures, management uses these non-GAAP financial measures to focus on the factors the company believes are pertinent to the daily management of our operations. The constant currency growth measures adjust for the impact of exchange rates and are calculated using average exchange rates during the comparable period in the prior year. Management uses these non-GAAP financial measures, together with other metrics, to set goals for and measure the performance of the business and to determine incentive compensation. Adjusted net revenue, adjusted operating income, adjusted operating margin, adjusted net income attributable to Global Payments, and adjusted EPS should be considered in addition to, and not as substitutes for, revenues, operating income, and EPS determined in accordance with GAAP. The non-GAAP financial measures reflect management's judgment of particular items, and may not be comparable to similarly titled measures reported by other companies. Adjusted net revenue excludes gross-up related payments associated with certain lines of business to reflect economic benefits to the company. On a GAAP basis, these payments are presented gross in both revenues and operating expenses. Management believes adjusted net revenue more closely reflects the economic benefits to the company's core business and allows for better comparisons with industry peers. Adjusted operating income, adjusted operating margin, adjusted net income attributable to Global Payments and adjusted EPS exclude acquisition-related amortization expense, acquisition, integration, separation and transformation expense, gains or losses on business dispositions, and certain other items specific to each reporting period as more fully described in the accompanying reconciliations in Schedules 6 and 7. In addition depreciation expense of certain acquired technology assets is also excluded, as it is a noncash expense and, based on its nature, is impacted by future integration initiatives. Excluding such depreciation expense supplements GAAP information with a measure that can be used to assess the comparability of operating performance across periods, as such assets were recognized as part of acquisition accounting. The tax rate used in determining the income tax impact of earnings adjustments is either the jurisdictional statutory rate in effect at the time of the adjustment or the jurisdictional expected annual effective tax rate for the period, depending on the nature and timing of the adjustment. In addition, income taxes on adjustments include the removal of tax charges related to business dispositions. Adjusted operating margin is derived by dividing adjusted operating income by adjusted net revenue. 15
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.