FIS Reports Fourth Quarter and Full-Year 2016 Results 

FIS™ (NYSE: FIS), a global leader in financial services technology and Platform Securities' parent company, today reported that fourth quarter revenue increased 30.4 percent on a reported basis to
$2.4 billion from $1.9 billion in the prior year quarter.  

Key Facts

Fourth Quarter 2016

  • Reported revenue increased 30.4 percent, and organic revenue increased 4.8 percent
  • Diluted EPS from continuing operations was $0.63, and Adjusted EPS was $1.14
  • Net cash provided by operating activities of $583 million and free cash flow of $435 million

Full-Year 2016

  • Reported revenue increased 40.1 percent, and organic revenue increased 4.6 percent
  • Diluted EPS from continuing operations was $1.72, and Adjusted EPS was $3.82
  • Net cash provided by operating activities of $1.9 billion and free cash flow of $1.5 billion

Net earnings from continuing operations attributable to common stockholders was $207 million, with a margin of 8.5 percent, compared to $105 million in the prior year quarter. Diluted EPS from continuing operations was $0.63 compared to $0.35 in the prior year quarter, an increase of 80.0 percent.

For the quarter, organic revenue increased 4.8 percent. Adjusted EBITDA increased 15.2 percent to $846 million for the quarter, from $734 million adjusted combined EBITDA in the prior year quarter, while adjusted EBITDA margin was 34.4 percent. Adjusted net earnings from continuing operations attributable to common stockholders was $377 million for the quarter, or $1.14 per share compared to $0.93 per share in the prior year quarter, an increase of 22.6 percent.

“One year after the acquisition of SunGard, the combination is surpassing our goals on all dimensions,” said Gary Norcross, FIS president and chief executive officer. “FIS delivered a consistently strong performance in 2016, exceeding our original expectations on every meaningful measure.”

Full-Year 2016

Full-year revenue increased 40.1 percent on a reported basis to $9.2 billion from $6.6 billion in the prior year period. Net earnings from continuing operations attributable to common stockholders was $567 million, with a margin of 6.1 percent, compared to $639 million in the prior year period. Diluted EPS from continuing operations was $1.72 compared to $2.21 in the prior year period, a decrease of 22.2 percent.

For the full year, organic revenue increased 4.6 percent. Adjusted EBITDA increased 11.1 percent to $2.9 billion in the year, from $2.7 billion adjusted combined EBITDA in the prior year period, while adjusted EBITDA margin was 31.2 percent. Adjusted net earnings from continuing operations attributable to common stockholders was $1.3 billion for the year, or $3.82 per share compared to $3.22 per share in the prior year period, an increase of 18.6 percent.

Balance Sheet and Cash Flow

As of Dec. 31, 2016, cash and cash equivalents totaled $683 million and debt outstanding totaled $10.5 billion. Fourth quarter net cash provided by operating activities was $583 million and free cash flow was $435 million. Full-year net cash provided by operating activities was $1.9 billion and free cash flow was $1.5 billion. The company reduced outstanding debt by $1.0 billion in the year. The company paid dividends totaling $86 million in the fourth quarter and $341 million in the year.

Back to news list