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Jun 30, 2024
Global Payments Q2 2024 Earnings Report
Reported an increase in GAAP diluted earnings per share and adjusted EPS, along with a rise in GAAP revenue and adjusted net revenue. The company reaffirmed its outlook for 2024 and announced a commerce technology partnership with Diamond Baseball Holdings.
Key Takeaways
Global Payments Inc. reported strong second-quarter results, with high single-digit adjusted net revenue growth (excluding Netspend divestiture) and double-digit adjusted earnings per share growth. The company also announced a new agreement with Diamond Baseball Holdings and new stadium partnerships with multiple UK football clubs.
GAAP diluted earnings per share increased by 40%, and adjusted EPS increased by 12%.
GAAP revenue increased by 5%, and adjusted net revenue increased by 6%.
The company reaffirmed its outlook for 2024.
Global Payments announced a commerce technology partnership with Diamond Baseball Holdings and renewed its issuer relationship with NatWest.
Global Payments
Global Payments
Global Payments Revenue by Segment
Revenue by Segment
Merchant Solutions Revenue
CapyFin.comIssuer Solutions Revenue
CapyFin.com Forward Guidance
The company continues to expect adjusted net revenue to be in a range of $9.17 billion to $9.30 billion, reflecting growth of 6% to 7%, and adjusted earnings per share to be in a range of $11.54 to $11.70, reflecting growth of 11% to 12% over 2023. Annual adjusted operating margin for 2024 is still expected to expand by up to 50 basis points.
Challenges Ahead
- Outlook continues to reflect the potential for a slightly more tempered economic environment in the second half of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income