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Global Payments Inc., which recently announced plans to acquire EVO Payments, lifted its Q2 2022 revenue against the prior year period and exceeded analyst expectations. Highlights include:
- Revenues rose 7.5% from $2.137 billion in Q2 2021 to $2.28 billion in the quarter ending June 30, 2022, while adjusted net revenues rose 6.1% from $1.94 billion to $2.06 billion.
- Net loss fell from a $226 million gain to a $665.05 million loss in the comparative quarters.
- Both basic and diluted earnings per share fell 371.9% from 89 cents to a $2.42 loss.
- Adjusted diluted EPS rose 15.78% from $2.04 to $2.36.
Shares traded at $127.98 Monday against a 52-week range of $105.59-$195.38.
The $2.28 billion in quarterly revenue beat analyst expectations by $190 million while the non-GAAP EPS of $2.36 beat expectations by 2 cents, according to Seeking Alpha.
The company declared a 25-cent per share quarterly dividend, in line with expectations, payable Sept. 30 for shareholders of record Sept. 16.
«Our second quarter performance was the best in our history and exceeded our expectations despite incremental challenges throughout the period,» CEO Jeff Sloan said in the press release. «Our merchant and issuer businesses both exceeded our targets, with our issuer business delivering significant sequential improvement as expected.»
«For 2022, we expect constant currency adjusted net revenue before dispositions in a range of $8.48 billion to $8.55 billion, reflecting growth of 10% to 11% over 2021 and consistent with our prior outlook,» said Josh Whipple, senior executive vice president and chief financial officer. «Further, adjusted earnings per share on a constant currency basis are expected to be in a range of $9.53 to $9.75, reflecting growth of 17% to 20% over 2021 and consistent with our prior outlook.»