Q1 2024 Earnings Summary
Reported on May 7, 2024 (After Market Close)
Pre-Earnings Price$74.31Last close (May 7, 2024)
Post-Earnings Price$74.60Open (May 8, 2024)
Price Change
$0.29(+0.39%)
- Adjusted EPS from continuing operations increased by 53% to $1.10 in Q1 2024, demonstrating strong profitability growth.
- FIS raised its full-year adjusted EPS outlook by $0.22 to a range of $4.88 to $4.98, reflecting confidence in sustained earnings growth and operational efficiencies.
- The company increased its share repurchase target by $500 million to $4 billion for 2024, indicating a strong capital position and commitment to returning value to shareholders.
- Adjusted EBITDA margin contracted by 80 basis points in the Capital Markets segment, primarily due to less favorable revenue mix.
- Professional services revenue declined by 14% in the Banking segment, reflecting a difficult year-over-year comparison related to a large client.
- Free cash flow conversion rate was only 18%, negatively impacted by temporary factors amounting to $195 million.
Research analysts covering Fidelity National Information Services.