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Global Payments Inc. (NYSE:GPN) reported fourth-quarter adjusted earnings per share of $2.65, beating the analyst consensus estimate of $2.64.
The company reported adjusted revenues of $2.186 billion, beating the street view of $2.182 billion.
Quarterly adjusted net revenues increased 8%, while adjusted operating margin expanded 30 basis points to 44.8%.
Adjusted Merchant Solutions revenues rose 18.5% to $1.67 billion. Adjusted Issuer Solutions gained 5.8% to $530.65 million.
The company’s long-term debt was $15.69 billion as of quarter-end, while cash and equivalents totaled $2.2 billion.
Dividend: The company approved a dividend of $0.25 per share payable on March 29, 2024, to shareholders of record as of March 15, 2024.
The company also approved an increase in its share repurchase authorization capacity to $2 billion.
2024 Outlook: The company expects adjusted net revenue to be from $9.17 billion to $9.30 billion versus $9.29 billion estimate.
The company reported adjusted earnings per share of $11.54 to $11.70 versus the $11.74 estimate.
Annual adjusted operating margin for 2024 is expected to expand by up to 50 basis points.
Price Action: GPN shares are trading lower by 0.32% to $135.63 on the last check Wednesday.
Posted In: GPN
