Global Payments Q3 2023 Earnings Report
Key Takeaways
Global Payments Inc. reported strong third quarter results ahead of expectations, with adjusted net revenues increasing 9% to $2.23 billion and adjusted earnings per share increasing 11% to $2.75. The company has made outstanding progress with the integration of EVO Payments and now expects to deliver approximately $135 million in annual run-rate synergies.
GAAP revenues were $2.48 billion, compared to $2.29 billion in 2022; diluted earnings per share were $1.39 compared to $1.05 in the prior year; and operating margin was 22.5% compared to 16.9% in the prior year.
Adjusted net revenues increased 9% to $2.23 billion, compared to $2.06 billion in 2022.
Adjusted earnings per share increased 11% to $2.75, compared to $2.48 in 2022.
Adjusted operating margin expanded 50 basis points to 45.7%.
Global Payments
Global Payments
Global Payments Revenue by Segment
Forward Guidance
The company continues to expect adjusted net revenue to be in a range of $8.660 billion to $8.735 billion, reflecting growth of 7% to 8% over 2022, and for adjusted operating margin to expand by up to 120 basis points in 2023. We now anticipate adjusted earnings per share to be in a range of $10.39 to $10.45, reflecting growth of 11% to 12% over 2022, or roughly 17% excluding dispositions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income