Shift4 Payments' Beats Q2 On Strong Payment Volume Growth, Expects Momentum To Continue In Q3

Shift4 Payments Inc FOUR reported second-quarter FY21 gross revenue growth of 148% year-on-year to $351 million, beating the analyst consensus of $291.24 million. Gross revenue minus network fees were up 102% Y/Y to $136.3 million.
End-to-end payment volume climbed 180% Y/Y to $11.8 billion. The Q3 end-to-end payment volume is off to a strong start with a July volume of $4.7 billion.
Adjusted EPS of $0.22 beat the analyst consensus of $0.09.
Adjusted EBITDA improved 205.4% Y/Y to $45.2 million.
Shift4 generated $5 million in operating cash flow during the six months ended Jun. 30, and held $699.7 million in cash and equivalents.
The growth experienced during the quarter was a combination of continued new merchant wins and volume growth within existing customers. It observed a more typical seasonal pattern for its business as consumer spending in its core verticals increased, and travel became more prevalent.
Outlook: Shift4 raised FY21 revenue from $1.2 billion - $1.3 billion to $1.3 billion - $1.4 billion above the analyst consensus of $1.2 billion.
Price action: FOUR shares traded higher by 2.37% at $87.73 on the last check Thursday.

Earnings Calendar