- Market leader at intersection of software and payments details
strategy to provide clients with world-class solutions that make
everyday commerce better.
- Aligning brand identity across assets and go-to-market
activities, including unifying POS businesses under the Genius
brand.
- Pursuing dispositions of select assets to accelerate value
creation.
- Streamlining and simplifying business through our operational
transformation to unlock substantial value and support sustainable
growth.
- Delivering double-digit adjusted EPS growth in 2025,
accelerating to low-teens in 2026 and 2027.
- Targeting shareholders returns of $7.5 billion over next three
years.
Global Payments Inc. (NYSE: GPN), a leading worldwide provider
of payment technology and software solutions, held its 2024
Investor Conference in New York City yesterday. The event, hosted
by senior leadership for members of the investment community,
outlined the company’s updated strategic focus, operational
transformation and outlook for sustainable performance and
long-term value creation.
“Our aspiration is to become the worldwide partner of choice for
commerce solutions,” said Cameron Bready, chief executive officer.
“We will deliver on that ambition by sharpening our strategic focus
to emphasize the markets where we are best positioned to compete
and win. We are transforming how we operate to unleash our full
potential, elevate our client experiences and provide market
leading solutions that make everyday commerce better.”
Bready continued, “In Merchant Solutions, we are fully unifying
our business worldwide. We will harmonize products and
capabilities, including our POS solutions under a common brand,
Genius, and leverage our vast distribution channels to extend them
globally. We are prioritizing SMBs to deliver our full suite of
differentiated software and commerce enablement solutions they need
to run and grow their businesses.
“In Issuer Solutions, we are capitalizing on meaningful growth
opportunities through our cloud modernization and cross-selling
initiatives, while also leveraging the strategic value of this
business to extend our capabilities across the payments value
chain. We will continue to explore and evaluate options for the
Issuer business that may serve to achieve our strategic objectives
and accelerate value creation for shareholders.”
Bready concluded, “Global Payments is exceptionally
well-positioned to execute our strategy. By taking advantage of the
opportunities ahead of us, we will continue to extend our
competitive advantage and drive substantial returns for our
shareholders.”
Josh Whipple, chief financial officer, added, “We are focused on
aligning our entire organization to capitalize on our growth
opportunities. We anticipate our operational transformation
initiatives will unlock more than $500 million of adjusted run-rate
operating income benefits by the first half of 2027. Our durable
model, strong free cash flow generation, and these operational
enhancements support our target of returning $7.5 billion to
shareholders over the next three years.”
Medium-Term Outlook
Global Payments also provided its medium term outlook for 2025
through 2027.
Medium-term outlook*
Preliminary 2025
2026-2027
Adjusted net revenue
Mid-single-digit growth
Mid- to high-single-digit
growth
Adjusted operating margin
+50 bps of expansion
50-100 bps of expansion
Adjusted EPS
~10% growth
Low-teens growth
*Outlook represents annual growth
expectations; adjusted net revenue outlook excludes any future
dispositions.
Investor Conference Materials and Webcast
Slides and videos from today’s presentation are available for
download and playback on the Global Payments Investor Relations
website at investors.globalpayments.com.
Non-GAAP Financial Measures
Global Payments includes in this news release certain non-GAAP
financial measures, including adjusted net revenue, adjusted
operating income, adjusted operating margin, and adjusted EPS.
Management uses these non-GAAP financial measures to focus on the
factors the company believes are pertinent to the daily management
of our operations. Additionally, 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. These non-GAAP financial measures reflect
management's judgment of particular items, may not be comparable to
similarly titled measures reported by other companies, and should
be considered in addition to, and not as substitutes for, the GAAP
measures.
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 and adjusted EPS exclude
acquisition-related amortization expense, share-based compensation
expense, acquisition, integration and separation expense, gain or
losses in business divestitures, and certain other items specific
to each reporting period. 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.
Adjusted operating margin is derived by dividing adjusted
operating income by adjusted net revenue.
Forward-Looking Measures
The company does not provide a reconciliation for non-GAAP
estimates on a forward-looking basis where a reconciliation to the
corresponding GAAP measure is not available due to the variability,
complexity and limited visibility of the items that are excluded
from the non-GAAP outlook measure. The company is unable to address
the probable significance of the unavailable information.
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading payments
technology company delivering innovative software and services to
our customers globally. Our technologies, services and team member
expertise allow us to provide a broad range of solutions that
enable our customers to operate their businesses more efficiently
across a variety of channels around the world.
Headquartered in Georgia with approximately 27,000 team members
worldwide, Global Payments is a Fortune 500® company and a member
of the S&P 500 with worldwide reach spanning North America,
Europe, Asia Pacific and Latin America. For more information, visit
company.globalpayments.com and follow Global Payments on X,
LinkedIn and Facebook.
Forward-Looking Statements
Investors are cautioned that some of the statements we use in
this release contain forward-looking statements and are made
pursuant to the "safe-harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements,
which are based on current expectations, estimates and projections
about the industry and markets in which we operate, and beliefs of
and assumptions made by our management, involve risks and
uncertainties that could significantly affect the financial
condition, results of operations, business plans and the future
performance of Global Payments. Actual events or results might
differ materially from those expressed or forecasted in these
forward-looking statements. Accordingly, we cannot guarantee that
our plans and expectations will be achieved. Examples of
forward-looking statements include, but are not limited to,
statements we make regarding future financial and operating
results, including revenue, earnings estimates, and liquidity,
deleveraging plans, management’s expectations regarding future
plans, objectives and goals; market and growth opportunities;
capital available for allocation; the effects of general economic
conditions on our business; statements about the benefits of
acquisitions or divestitures, including future financial and
operating results, and the successful integration of acquisitions
or completion of anticipated benefits of strategic or operational
initiatives; statements regarding our success and timing in
developing and introducing new services or products and expanding
our business; and other statements regarding our future financial
performance and Global Payments’ plans, objectives, expectations
and intentions. Statements can generally be identified as
forward-looking because they include words such as “believes,”
“anticipates,” “expects,” “intends,” “plan,” “forecast,” “could,”
“should,” or words of similar meaning. Although we believe that the
plans and expectations reflected in any forward-looking statements
are based on reasonable assumptions, we can give no assurance that
our plans and expectations will be attained, and therefore actual
outcomes and results may differ materially from what is expressed
or forecasted in such forward-looking statements.
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: the effects of global economic,
political, market, health and social events or other conditions;
foreign currency exchange, inflation and rising interest rate
risks; difficulties, delays and higher than anticipated costs
related to integrating the businesses of acquired companies,
including with respect to implementing controls to prevent a
material security breach of any internal systems or to successfully
manage credit and fraud risks in business units; the effect of a
security breach or operational failure on our business; failing to
comply with the applicable requirements of Visa, Mastercard or
other payment networks or card schemes or changes in those
requirements; the ability to maintain Visa and Mastercard
registration and financial institution sponsorship; the ability to
retain, develop and hire key personnel; the diversion of
management’s attention from ongoing business operations; the
continued availability of capital and financing; increased
competition in the markets in which we operate and our ability to
increase our market share in existing markets and expand into new
markets; our ability to safeguard our data; risks associated with
our indebtedness; our ability to meet environmental, social or
governance targets, goals and commitments; the potential effect of
climate change including natural disasters; 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,
including privacy and cybersecurity laws and regulations; 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 you are cautioned not to place undue reliance on
these forward-looking statements. Our forward-looking statements
speak only 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 to publicly release the
results of any revisions to our forward-looking statements, except
as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240925192698/en/
Investor Contact: Winnie Smith 770.829.8478
investor.relations@globalpay.com
Media Contact: Emily Edmonds 770.829.8755
media.relations@globalpay.com
Global Payments (NYSE:GPN)
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から 11 2024 まで 12 2024
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から 12 2023 まで 12 2024
