Global Payments Q4 2023 Earnings Report
Key Takeaways
Global Payments reported strong Q4 2023 results, with GAAP revenue of $2.43 billion and adjusted net revenue of $2.19 billion, both increasing by 8%. GAAP EPS was $1.38, and adjusted EPS was $2.65, a 10% increase. The company also anticipates launching a joint venture with Commerzbank in the first half of 2024 and renewed agreements with Capital One Financial and Navy Federal Credit Union.
GAAP revenues were $2.43 billion, compared to $2.25 billion in 2022; diluted earnings per share were $1.38, compared to $0.94 in the prior year; and operating margin was 20.5%, compared to 18.1% in the prior year.
Adjusted net revenues increased 8% to $2.19 billion, compared to $2.02 billion in 2022.
Adjusted earnings per share increased 10% to $2.65, compared to $2.42 in 2022.
Adjusted operating margin expanded 30 basis points to 44.8%.
Global Payments
Global Payments
Global Payments Revenue by Segment
Forward Guidance
The company expects 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 expected to expand by up to 50 basis points.
Revenue & Expenses
Visualization of income flow from segment revenue to net income