Q2 2024 Global Payments Inc Earnings Call Transcript
Key Points
- Global Payments Inc (GPN) achieved 6% adjusted net revenue growth, or 7% excluding the impact of the divestiture of Netspend consumer assets.
- Adjusted earnings per share grew by 12% in the quarter.
- The company expanded adjusted operating margins by 40 basis points.
- High single-digit organic growth in Merchant Solutions, driven by integrated software and point-of-sale businesses.
- Strong performance in vertical markets, with double-digit growth in software bookings, particularly in education, real estate, and healthcare.
- Modest deceleration in transaction volumes, particularly driven by commercial card activity.
- Ongoing macro-economic uncertainty impacting overall business environment.
- Adverse foreign currency exchange rates posed a roughly 50 basis point headwind.
- Issuer Solutions saw a slight deceleration in consumer transaction growth sequentially.
- Take Payments acquisition comes in at roughly half of Global Payments Inc (GPN)'s margin, impacting overall margin expansion.
Ladies and gentlemen, thank you for standing by, and welcome to Global Payments' second quarter 2024 earnings conference call. (Operator instructions)
As a reminder, today's conference will be recorded. At this time, I would like to turn the conference over to your host, Senior Vice President, Investor Relations, Winnie Smith. Please go ahead.
Good morning, and welcome to Global Payments' second quarter 2024 conference call. Our earnings release and the slides that accompany this call can be found on the Investor Relations area of our website at www.globalpayments.com. Before we begin, I'd like to remind you that some of the comments made by management during today's conference call contain forward-looking statements about among other matters, expected operating and financial results.
These statements are subject to risks, uncertainties and other factors, including the impact of economic conditions on our future
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