Shift4 Payments (FOUR) Company Report

Shift4 observed volatility in domestic restaurant and lodging categories, with year-over-year trends ranging from +1% to -4%, leading to a cautious tone regarding Q4 guidance metrics.
The company's acquisition strategy focuses on expanding its cross-sell funnel, enhancing capabilities (e.g., Bambora for EFT ACH, Global Blue for dynamic currency conversion), and market expansion (e.g., Smartpay in Australia/New Zealand).
Shift4's Board authorized a $1 billion share repurchase program through the end of 2026, viewing the current valuation as an attractive opportunity for capital allocation.
Shift4 reiterated its target of achieving $1 billion in adjusted free cash flow as an exit rate for 2027.
The company expressed confidence in its medium-term outlook, noting a year-over-year organic growth of 18% in Q3, which tracks favorably against its "sit on our hands" case.

1 day ago

Transcript

Shift4 Discusses Q4 Guidance, Acquisition Strategy, and Financial Targets at UBS Conference

FOUR

Guidance Update

M&A

Share Buyback

Shift4's CFO, Chris Cruz, indicated increased volatility in domestic restaurant and lodging categories, with recent year-over-year trends ranging from +1% to -4%, impacting Q4 GMV guidance.
The company continues to leverage acquisitions (e.g., Global Blue, Bambora, Smartpay) to expand its cross-sell funnel, enhance capabilities, and enter new geographic markets, which is a core part of its unit economic model.
Shift4's board authorized a $1 billion share repurchase program through the end of 2026, viewing the current share valuation as an attractive capital allocation opportunity.
Shift4 reiterated its target of achieving $1 billion in adjusted free cash flow as an exit rate for 2027 and reported 18% year-over-year organic growth in Q3, tracking favorably against its medium-term outlook.

1 day ago

Transcript

Shift4 Discusses Q4 Guidance, Acquisition Strategy, and Financial Targets

FOUR

Guidance Update

M&A

Share Buyback

Shift4 observed volatility in domestic restaurant and lodging categories in Q3, with year-over-year trends ranging from +1% to -4%, leading to a more cautious tone for Q4 guidance.
The company's acquisition strategy, referred to as the "Shift4 way," focuses on expanding its cross-sell funnel, enhancing capabilities (e.g., EFT/ACH via Bambora, dynamic currency conversion via Global Blue), and market expansion (e.g., Australia/New Zealand with Smartpay).
Shift4 reiterated its target of achieving a $1 billion adjusted free cash flow exit rate by the end of 2027 and authorized a $1 billion share repurchase program through the end of 2026, viewing the current share valuation as attractive.
The company is tracking favorably against its medium-term outlook, noting an 18% year-over-year organic growth in Q3, and sees significant growth potential in ticketing integrations within its stadiums and entertainment vertical.

1 day ago

Transcript

Shift4 CFO Chris Cruz Discusses Strategy, Guidance, and Capital Allocation

FOUR

CFO Change

Guidance Update

Share Buyback

Shift4's new CFO, Chris Cruz, affirmed the company's medium-term guidance, including a target of $1 billion adjusted free cash flow exit rate by 2027.
The board authorized a $1 billion share repurchase program, double the prior $500 million program, which is a key capital allocation priority given current share valuation.
Integration of the Global Blue acquisition is ahead of schedule, with value creation expected in 2026, and the luxury retail tax-free shopping business grew 19% year-over-year.
The company is expanding its global presence to six continents and diversifying into new verticals, though it notes a bifurcated consumer trend impacting domestic restaurant and lodging same-store sales.

Nov 12, 2025, 3:55 PM

Transcript

Shift4 Payments Reports Strong Q3 2025 Results and Authorizes Stock Buyback

FOUR

Earnings

Share Buyback

Revenue Acceleration/Inflection

Shift4 Payments reported strong third-quarter 2025 financial results, with revenue reaching $1.18 billion, a 29.8% year-over-year increase, and adjusted EBITDA of $292 million.
The company secured significant contracts with major clients such as Hyatt Vacation Club and Hertz, contributing to a 26% year-over-year increase in total transaction volume to $54.7 billion.
Despite robust growth, Shift4 acknowledged challenges including market volatility, a modest net margin of 6.11%, and financial risks indicated by a high debt-to-equity ratio.
In a show of confidence, Shift4's Board authorized a $1 billion stock buyback program, the largest in its history, even as the stock has underperformed the broader market, losing about 35.3% year-to-date.

Nov 7, 2025, 12:39 AM

Morningstar

Shift4 Announces Strong Q3 2025 Results and New $1 Billion Share Repurchase Program

FOUR

Earnings

Guidance Update

Share Buyback

Shift4 (FOUR) reported strong Q3 2025 financial results, with gross revenue less network fees increasing 61% year-over-year to $589 million and adjusted EBITDA growing 56% to $292 million. Organic growth for gross revenue less network fees was 18% year-over-year.
The company reaffirmed its full-year 2025 guidance within a narrowed range, projecting gross revenue less network fees between $1.98 billion and $2.02 billion and adjusted EBITDA between $970 million and $985 million.
A new $1 billion stock repurchase program was authorized through year-end 2026, the largest in the company's history, reflecting confidence in the company's valuation and expanding cash flows.
The Global Blue acquisition, closed in early July, contributed $156 million to gross revenue less network fees and $68 million to EBITDA in Q3 2025. The company also completed the acquisition of SmartPay and agreed to acquire Bambora (Worldline North America), expected to close in Q1 2026.
Despite strong performance, Shift4 noted same-store sales volatility in Q3, particularly in restaurants and hospitality, and acknowledged a complex macro backdrop.

Nov 6, 2025, 1:30 PM

Transcript

Shift4 Payments, Inc. Announces Q3 2025 Financial Results and Updates Full-Year Guidance

FOUR

Earnings

Guidance Update

M&A

Shift4 Payments, Inc. reported strong Q3 2025 financial results, with gross profit increasing 62% year-over-year to $409.6 million and gross revenue less network fees growing 61% year-over-year to $589.2 million.
The company achieved $54.7 billion in payment volume, a 26% increase from Q3 2024, and recorded Adjusted EBITDA of $292.1 million, up 56% year-over-year. Non-GAAP net income per share was $1.47.
Shift4 Payments, Inc. updated its full-year 2025 guidance, narrowing the ranges for key metrics including Volume ($207 billion to $210 billion), Gross Revenue Less Network Fees ($1.980 billion to $2.020 billion), and Adjusted EBITDA ($970 million to $985 million).
The company announced a new $1 billion share repurchase plan authorization and closed on the SmartPay acquisition on November 4, 2025, while also announcing the Bambora acquisition expected to close in early 2026.

Nov 6, 2025, 12:04 PM

8-K

Shift4 Announces Initial Preferred Stock Dividend

FOUR

Dividends

Convertible Preferred Issuance

Shift4 Payments announced an initial dividend of $1.50 per share for its 10,000,000 shares of 6% Series A Mandatory Convertible Preferred Stock.
The dividend will be paid on November 3, 2025, to holders of record as of October 15, 2025.
The declaration and payment of future quarterly dividends will be at the sole discretion of the Board of Directors.

Oct 3, 2025, 9:07 PM

Press Release

Shift4 Payments, Inc. Amends Settlement Line Credit Agreement

FOUR

Debt Issuance

Shift4 Payments, LLC, a wholly owned subsidiary of Shift4 Payments, Inc., entered into Amendment No. 1 to its Settlement Line Credit Agreement with Citizens Bank, N.A., effective September 29, 2025.
The amendment extends the scheduled maturity date of the Settlement Line to September 28, 2026.
The aggregate amount available under the Settlement Line was increased by $25.0 million, raising the total available amount to $125.0 million from the original $100.0 million.

Sep 30, 2025, 8:07 PM

8-K

Shift4 Payments Discusses Leadership Transition, Growth, and M&A Strategy

FOUR

CEO Change

CFO Change

M&A

Management Transition: Taylor Lauber has taken over as CEO of Shift4 Payments, with strategic priorities remaining consistent, while Chris Cruz has been appointed as the new CFO, focusing on profitability per share.
Significant Growth & Scale: Since its IPO, Shift4 Payments has grown substantially, becoming 12 times larger on an EBITDA basis and 25 times larger on a free cash flow basis, with its workforce expanding to 6,000 people, 65% of whom are outside the U.S..
Strategic Acquisitions & International Expansion: The company completed its largest acquisition to date, Global Blue, a leader in currency conversion and tax refunds, which is expected to provide significant synergies and open doors to new luxury retail clients. Additionally, Shift4 gained operational control of Vectron in Germany, a restaurant point-of-sale business with 65,000 restaurants, further expanding its international SMB footprint.
Continued M&A Strategy: Shift4 Payments plans to continue its M&A strategy, contemplating approximately $200 million annually for redeployment into new market access or cross-sell opportunities, having acquired six businesses in the last 18 months.

Sep 10, 2025, 11:25 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for Shift4 Payments.

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