โ
๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Adj. EPS: $1.75 (Est. $1.71) โ , -14% YoY.
โข GAAP Revenue: $5.20B (Est. $4.84B) โ , -1% YoY.
โข Adjusted Revenue: $4.85B, -1% YoY.
โข GAAP EPS: -$11.17 (vs. +$1.46 YoY).
โข Organic Revenue Growth: Flat YoY.
โข Adjusted Operating Margin: 31.2%, -580 bps YoY.
โข GAAP Operating Margin: -105.7%.
โข 9M Free Cash Flow: $2.04B (vs. $2.88B YoY).
โ
๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐
โข FY2026 Adj. EPS: $7.20โ$7.40, midpoint $7.30 (Est. $7.24) โ , reaffirmed.
โข FY2026 Organic Revenue Growth: -1% to 0%, unchanged.
โข Project Elevate Savings Target: $1.0B, doubled from $500M.
โข Q4 Share Repurchases: ~$500M planned.
โ
๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Q3 adjusted EPS beat consensus by ~2.3%, while reported revenue exceeded estimates by ~7.4%.
โข Recorded a $6.45B non-cash goodwill impairment, driving a GAAP loss of $11.17 per share.
โข Merchant Solutions organic revenue declined 2%, while Financial Solutions returned to 2% organic growth.
โข Adjusted operating margin contracted 580 bps to 31.2%, reflecting continued profitability pressure.
โข Project Elevate projected savings doubled to $1B following a portfolio and efficiency review.
โข Banking net attrition improved by more than 25% YTD, with major client wins beginning to ramp.
โข Completed the sale of its student loan servicing business and established the MoneyPass Group joint venture.
โข 9M operating cash flow declined to $3.09B from $4.12B YoY.
โข Plans to resume share repurchases in Q4 with $500M under its existing authorization.
โข Management expects revenue growth to accelerate in Q4 while maintaining full-year guidance.
โ
๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โOur second-half initiatives are on track to support the revenue acceleration we expect in the fourth quarter, and we are reaffirming our full-year guidance.โ