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Mar 31, 2020
FIS Q1 2020 Earnings Report
FIS reported first quarter 2020 results with revenue increase driven by Worldpay acquisition and adjusted EBITDA margin expansion.
Key Takeaways
FIS reported a 50% increase in revenue to $3,078 million, driven by the acquisition of Worldpay. Adjusted EBITDA margin expanded to 40.5%. The company is focused on protecting employees and meeting client needs during the COVID-19 pandemic.
Revenue increased 50% on a reported basis and 2% on an organic basis to $3,078 million.
Achieved annual run-rate revenue and expense synergies of approximately $100 million and $580 million, respectively.
Increased annual run-rate expense synergy target to at least $700 million exiting 2020.
Generated net cash provided by operating activity of $383 million and free cash flow of $539 million.
FIS
FIS
FIS Revenue by Segment
Revenue by Segment
Banking Solutions Revenue
CapyFin.comCapital Market Solutions Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
The Company remains committed to reducing its leverage incurred in the Worldpay acquisition while ensuring ample liquidity. Given the impacts associated with the ongoing COVID-19 pandemic, the Company now expects to extend the time period to achieve its target leverage into 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income