FIS Reports Third Quarter 2017 Results 

FIS™ (NYSE: FIS), a global leader in financial services technology, today reported third quarter 2017 results. The Company’s GAAP results were impacted by the recent divestiture of its consulting businesses and costs incurred in connection with its European debt offering.  

Key Facts:

  • GAAP revenue of $2.2 billion
  • Diluted EPS from continuing operations of $0.18, and Adjusted EPS of $1.18
  • Net cash provided by operating activities of $534 million, and free cash flow of $402 million

GAAP revenue decreased 4.8 percent to $2,198 million from $2,309 million in the prior year quarter. Operating income decreased to $388 million for the quarter, from $398 million in the prior year quarter, while operating income margin expanded 50 basis points to 17.7 percent. Net earnings from continuing operations attributable to common stockholders was $61 million for the quarter, or $0.18 per diluted share, compared to $0.56 per diluted share in the prior year quarter.

For the third quarter, organic revenue increased 0.8 percent. Adjusted EBITDA, which is impacted by the recent divestiture of our consulting businesses, decreased to $760 million for the quarter, from $766 million in the prior year quarter, while adjusted EBITDA margin expanded 180 basis points to 34.5 percent. Adjusted net earnings from continuing operations attributable to common stockholders was $397 million for the quarter, or $1.18 per diluted share, compared to $1.00 per diluted share in the prior year quarter.

“Our emphasis on operational effectiveness enabled us to exceed our expected earnings goal for the quarter,” said Gary Norcross, FIS president and chief executive officer. “We remain focused on our long-term strategy of investing for growth, serving our clients and driving sustained value for our shareholders.”

 

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