Global Payments Revenue, EPS Come In Below Q3 Estimates, Francisco Partners To Acquire AdvancedMD Business

Global Payments Inc GPN reported third-quarter financial results before the market open on Wednesday. Here’s a rundown of the report.

• Q3 Revenue: $2.357 billion, versus estimates of $2.381 billion

• Q3 EPS: $3.08, versus estimates of $3.12

Total revenue was up 5% on a year-over-year basis and earnings per share climbed 12%. Adjusted operating margin expanded by 40 basis points in the quarter to 46.1%.

“We are pleased with our solid financial performance in the third quarter, which reflects strong execution despite ongoing macroeconomic uncertainty,” said Cameron Bready, CEO of Global Payments.

“These results highlight the resiliency and durability of our business as we move aggressively to position Global Payments for the next phase of its growth journey as a leader in payments.”

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The company’s board approved a dividend of 25 cents per share, payable on Dec. 27 to shareholders of record as of Dec. 13.

Global Payments also announced that it signed a definitive agreement in which Francisco Partners will acquire its AdvancedMD business. Global Payments will continue to power the company’s payment acceptance capabilities as a long-term partner.

The acquisition is expected to close in the fourth quarter. Financial terms of the deal were not disclosed.

Outlook: Global Payments expects full-year revenue to be in the range of $9.17 billion to $9.3 billion versus estimates of $9.23 billion, according to Benzinga Pro. The company sees full-year adjusted earnings in the range of $11.54 to $11.70 per share versus estimates of $11.57 per share.

GPN Price Action: Global Payments shares were up 1.89% at $100.94 at the time of publication, according to Benzinga Pro.

Photo: 3844328 from Pixabay.