Q3 2024 Global Payments Inc Earnings Call Transcript
Key Points
- Global Payments Inc (GPN) reported a 6% increase in adjusted net revenue for the third quarter, demonstrating solid financial performance.
- The company achieved a 12% growth in adjusted earnings per share compared to the same period in 2023, indicating strong profitability.
- Merchant Solutions segment delivered 7% adjusted net revenue growth, driven by POS and software, and integrated and embedded businesses.
- The company successfully added nearly 10,000 new POS locations year-to-date, showcasing strong expansion in its point-of-sale offerings.
- Global Payments Inc (GPN) announced a definitive agreement to sell its AdvancedMD business, exemplifying its commitment to streamline operations and focus on core strategic areas.
- Issuer Solutions segment experienced softer than expected volumes, largely due to a decline in commercial card transactions.
- The company faced macroeconomic headwinds, impacting its issuer business and leading to a slightly lower revenue growth outlook for the full year.
- Global Payments Inc (GPN) saw a moderation in SMB volumes, growing only 5% for the third quarter, partly due to lower same-store sales.
- The company is undergoing significant restructuring and transformation initiatives, which may lead to short-term disruptions and challenges.
- There were delays in product and project investments from financial institution partners, reflecting cautious spending in the current macroeconomic environment.
Ladies and gentlemen, thank you for standing by and welcome to Global Payments Third Quarter 2024 earnings conference call. At this time, all participants are in a listen only mode. Later, we will open the line for questions and answers. You should require assistance during the call, please press star zero. As a reminder, today's call 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 Third 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.globalpaymentsinc.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 things, expected operating and
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
