GLOBAL PAYMENTS (GPN) Company Report

Worldpay acquisition expected to close in Q1 2026, with a unified operating model and integration plan focused on long-term growth and cross-business synergies from day one.
Genius platform positioned as “better than most, competitive with all,” backed by over $1 billion/year in planned capital investment to maintain feature leadership and scalability.
Sales force expansion, adding ~500 new direct sales hires in North America to a base of ~3,800–4,000 global sales and support professionals, and deploying Genius across all distribution channels.
Capital return commitment of $7.5 billion to shareholders through 2027, de-leveraging to a 3× target within 18–24 months and targeting $5 billion in leverage-free cash flow by 2028.

2 days ago

Transcript

Global Payments completes $6.2 billion senior notes offering

GPN

Debt Issuance

M&A

On November 14, 2025, Global Payments Inc. completed a $6.2 billion public offering of unsecured senior notes: $1.75 billion 4.500% due 2028; $1.7 billion 4.875% due 2030; $1.0 billion 5.200% due 2032; and $1.75 billion 5.550% due 2035.
Proceeds will fund the Worldpay acquisition, including cash payments, repayment of Worldpay’s debt, transaction costs, and general corporate purposes.
The company terminated its $7.7 billion senior unsecured bridge loan commitment, reducing remaining commitments to zero upon closing of the offering.

Nov 14, 2025, 9:34 PM

8-K

Global Payments prices $6.2 billion senior notes for Worldpay acquisition

GPN

Debt Issuance

M&A

On November 6, 2025, Global Payments entered an underwriting agreement to issue $1.75 billion of 4.500% Senior Notes due 2028, $1.70 billion of 4.875% Senior Notes due 2030, $1.00 billion of 5.200% Senior Notes due 2032, and $1.75 billion of 5.550% Senior Notes due 2035 in a public offering expected to close on November 14, 2025.
The offering is being made in connection with the proposed acquisition of Worldpay Holdco, LLC from FIS and GTCR and the divestiture of GPN’s Issuer Solutions business to FIS.
Each series includes a special mandatory redemption at 101% of principal if the Worldpay acquisition is not consummated by the applicable outside date.
Joint book-running managers are J.P. Morgan Securities, BofA Securities and Barclays Capital, supported by a syndicate of co-managers including Citigroup, HSBC and Morgan Stanley.

Nov 12, 2025, 12:09 PM

8-K

Global Payments to acquire Worldpay and divest Issuer Solutions

GPN

M&A

Debt Issuance

On April 17, 2025, Global Payments agreed to acquire 100% of Worldpay Holdco, LLC and simultaneously divest its Issuer Solutions business to FIS, with both transactions expected to close in Q1 2026 subject to regulatory approvals.
Consideration for the Worldpay acquisition includes approximately $6.1 billion in cash and 43.3 million shares of Global Payments common stock; the Issuer Solutions divestiture consideration is approximately $7.5 billion in cash plus FIS’s Worldpay ownership interest.
To fund the acquisition and related activities, Global Payments intends to issue $6.2 billion of notes to cover cash payments, repay Worldpay debt, pay transaction costs, and for general corporate purposes.
Global Payments filed key financial exhibits: audited combined financial statements of the Worldpay Business as of December 31, 2023; audited combined and consolidated statements as of December 31, 2024; interim unaudited financials as of September 30, 2025; and unaudited pro forma condensed combined financial information.

Nov 5, 2025, 1:24 PM

8-K

Global Payments recasts financials after Worldpay deal and divestiture

GPN

M&A

Financial Restatement

Accounting Changes

On April 17, 2025, Global Payments entered into definitive agreements to acquire 100% of Worldpay Holdco, LLC and simultaneously divest its Issuer Solutions business to FIS, with both transactions expected to close in Q1 2026, subject to regulatory approvals.
The Issuer Solutions segment now meets the criteria for a discontinued operation, prompting a restatement of GPN’s FY 2024 Form 10-K and Q1 2025 Form 10-Q to exclude this business from continuing operations and segment results.
The Company also revised its presentation of cash flows—reclassifying changes in settlement processing assets and funds held for customers from operating to financing activities—and changed Merchant Solutions revenue disaggregation from distribution channels to service lines; corresponding FY 2024 disclosures have been recast to conform.
Exhibit 99.1 to this Form 8-K includes the updated MD&A, financial statements and supplementary data reflecting these discontinued-operation and presentation changes.

Nov 4, 2025, 10:22 PM

8-K

Global Payments reports Q3 2025 results

GPN

Earnings

M&A

Guidance Update

Delivered 6% constant currency adjusted net revenue growth, 110 bps adjusted operating margin expansion, and 11% constant currency adjusted EPS growth, generating $784 million in adjusted free cash flow and reducing net leverage to 2.9x.
Merchant Solutions revenue of $1.88 billion (+6% cc, excl. dispositions) and Issuer Solutions revenue of $562 million (+5% cc) drove continued segment‐level growth and margin improvement.
Received U.K. CMA approval for the WorldPay acquisition, now expected to close in Q1 2026 alongside the divestiture of Issuer Solutions, and returned $500 million to shareholders via accelerated share repurchase following the payroll business sale.
Reaffirmed full‐year 2025 outlook: 5–6% cc net revenue growth (-400 bps from dispositions), adjusted operating margin expansion within 50 bps, >90% free cash flow conversion, net leverage ≤ 3x, and EPS growth at the high end of 10–11%.

Nov 4, 2025, 1:00 PM

Transcript

Global Payments reports Q3 2025 results

GPN

Earnings

M&A

Share Buyback

Adjusted net revenue of $2.43 billion, up 6% on a constant currency basis (ex-dispositions), with an adjusted operating margin of 45% and EPS of $3.26 (+11% CC); adjusted free cash flow of $784 million and net leverage reduced to 2.9×
Merchant Solutions net revenue of $1.88 billion, +6% CC (ex-dispositions), Issuer Solutions revenue of $562 million, +5% CC; returned $500 million to shareholders via accelerated share repurchase in Q3
Genius platform drove momentum with new sales to new customers at 90%, new locations +20% YoY, and new ARR up 75% from June to September
WorldPay acquisition received U.K. CMA approval; expected to close and divest Issuer Solutions in Q1 2026, positioning Global Payments as a pure-play merchant solutions provider
Maintained FY 2025 guidance of 5–6% CC net revenue growth, high 10–11% EPS growth (CC), >90% FCF conversion, and leverage ≤3× by year-end

Nov 4, 2025, 1:00 PM

Transcript

Global Payments reports Q3 2025 results

GPN

Earnings

Guidance Update

M&A

Delivered $2.4 B adjusted net revenue (+3% YOY), $3.26 adjusted EPS (+12% YOY), and $784 M adjusted free cash flow (100% conversion); reduced leverage to 2.9x
Received UK Competition and Markets Authority clearance for Worldpay acquisition; now expects the transaction to close in Q1 2026
Merchant Solutions net revenue of $1.9 B (+2% YOY) with 51.1% margin and Issuer Solutions net revenue of $562 M (+6% YOY) with 46.9% margin
Reaffirmed 2025 outlook: 5–6% constant-currency adjusted net revenue growth ex-dispositions, >50 bps operating margin expansion, and 10–11% adjusted EPS growth

Nov 4, 2025, 1:00 PM

Presentation

Global Payments reports Q3 2025 results

GPN

Earnings

M&A

Share Buyback

Delivered $2.43 B in Q3 adjusted net revenue, up 6% on a constant currency basis ex-dispositions; adjusted operating margin expanded 110 bps to 45%, and adjusted EPS was $3.26, up 11% cc.
Generated $784 M of adjusted free cash flow in Q3; year-to-date free cash flow of $2.1 B with 96% conversion and ended the quarter at 2.9x net leverage, below the 3x target.
Returned $500 M to shareholders in Q3 via accelerated share repurchase; remains on track to return $7.5 B of capital over 2025–27 and delever to ≤3x within 18–24 months post-close.
Expects to close the Worldpay acquisition and divest Issuer Solutions in Q1 2026, aiming to drive approximately $5 B in annual free cash flow by 2028 as a pure-play merchant solutions provider.

Nov 4, 2025, 1:00 PM

Transcript

Global Payments reports Q3 2025 results

GPN

Earnings

Guidance Update

M&A

GAAP diluted EPS of $2.64 and adjusted EPS of $3.26, up 11% constant currency
GAAP revenue of $2.01 billion (flat) and adjusted net revenue of $2.43 billion, +6% constant currency ex-dispositions
Adjusted operating margin expanded 110 bps to 45.0%, with $784 million in adjusted free cash flow and leverage of 2.9×
Reaffirmed FY 2025 guidance for 5–6% CC adjusted net revenue growth ex-dispositions, >50 bps adjusted operating margin expansion, and 10–11% CC adjusted EPS growth
Received UK CMA clearance for Worldpay acquisition; expects to close in Q1 2026 and divest Issuer Solutions

Nov 4, 2025, 11:59 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for GLOBAL PAYMENTS.

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What did Cameron M. Bready say about margins?What are GLOBAL PAYMENTS's strategic priorities?How is GLOBAL PAYMENTS positioned vs competitors?How did GLOBAL PAYMENTS do last quarter?

Let Fintool AI Agent track GLOBAL PAYMENTS's earnings for you

Get instant analysis when filings drop