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First Data Corp (FDC) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

First Data Corp

CIK: 883980 Ticker: FDC
EXHIBIT 99.1

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First Data Reports Third Quarter 2018 Financial Results
and Revises Full Year Guidance


Total segment revenue of $2,158 million, up 4% reported(a), up 3% on a comparable accounting basis(b), up 5% on an organic constant currency basis(c) 
Consolidated revenue of $2,369 million, impacted by the adoption of ASC 606
Net income attributable to First Data diluted EPS of $0.42
Adjusted diluted EPS of $0.35, includes $0.02 of adverse foreign exchange
Total segment EBITDA of $815 million, up 4% reported(a), up 5% on a comparable accounting basis(b), up 7% on an organic constant currency basis(c) 
Cash flow from operations of $671 million; free cash flow of $444 million
Total borrowings declined $862 million; net debt declined $855 million in quarter
$6 billion refinancing reduces annualized interest expense by approximately $90 million
Full year 2018 organic constant currency segment revenue and EBITDA growth guidance unchanged
Revising full year 2018 EPS guidance primarily to reflect recent adverse foreign currency movements


NEW YORK, October 29, 2018 -
First Data Corporation (NYSE: FDC), a global leader in commerce-enabling technology, today reported financial results for the third quarter ended September 30, 2018.

“This was another quarter of strong operational execution and performance,” said First Data Chairman and CEO Frank Bisignano. “We generated solid top-line contributions from our core merchant acquiring and card issuance businesses as we ramped up new mandates and saw continued strong performance from high-growth businesses including ISV, Clover and our international markets. We also continued to take steps that will enhance our long-term performance by divesting non-core businesses and remain on track to achieve our leverage goals. Heading into the final months of 2018, we expect to close out our best year as a public company with good momentum into 2019 and beyond,” Bisignano added.


(a)
GAAP growth rate -- Consolidated revenue, segment revenue and segment EBITDA reflect New Reporting Standards, including the modified retrospective application of ASC 606 (the New Revenue Standard). See Form 8-K filed on April 16, 2018, for full description of the New Reporting Standards and their impact on 2017 results.
(b)
Non-GAAP growth rate -- Growth rate adjusted to retrospectively apply ASC 606 to the prior year period, providing a consistent basis of accounting to both periods.
(c)
Non-GAAP growth rate -- Organic constant currency growth (“Organic CC growth”) is defined as reported growth adjusted for the following: (1) excludes the impacts of year-over-year currency rate changes in the current period; (2) excludes the results of significant divestitures in the prior year period; (3) includes the results of significant acquisitions in the prior year period; and (4) is adjusted to retrospectively apply ASC 606 to the prior year period.


The following information was filed by First Data Corp (FDC) on Monday, October 29, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Equity (Unaudited)
Consolidated Statements Of Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Income (Unaudited)
Consolidated Statements Of Income (Unaudited) (Parenthetical)
Acquisitions And Dispositions
Acquisitions And Dispositions - Acquisitions (Details)
Acquisitions And Dispositions - Dispositions (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Amortization Of Initial Payments For New Contracts And Equity Method Investments (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Foreign Currency Translation (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Impact Of Adoption Of New Revenue Standard (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - New Accounting Guidance (Details)
Borrowings
Borrowings (Tables)
Borrowings - Foreign Lines Of Credit And Other Arrangements (Details)
Borrowings - Receivable Securitization Agreement (Details)
Borrowings - Schedule Of Borrowings (Details)
Borrowings - Senior Secured Revolving Credit Facility (Details)
Borrowings - Senior Unsecured Revolving Credit Facility (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Schedule Of Derivative Instruments On Operations (Details)
Derivative Financial Instruments - Schedule Of Notional Amounts (Details)
Derivative Financial Instruments - Summary Of Cash Flow Hedges And Net Investment Hedges (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Tax Amounts (Details)
Investment In Affiliates
Investment In Affiliates (Details)
Investment In Affiliates (Tables)
Net Income Per Share Attributable To First Data Corporation
Net Income Per Share Attributable To First Data Corporation (Details)
Net Income Per Share Attributable To First Data Corporation (Tables)
Other Operating Expenses, Net
Other Operating Expenses, Net (Tables)
Other Operating Expenses, Net - Narrative (Details)
Other Operating Expenses, Net - Summary Of Net Pretax Charges Incurred By Segment (Details)
Other Operating Expenses, Net - Summary Of Other Operating Expenses (Details)
Other Operating Expenses, Net - Summary Of Utilization Of Restructuring Accruals (Details)
Redeemable Noncontrolling Interest
Redeemable Noncontrolling Interest (Details)
Redeemable Noncontrolling Interest (Tables)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Changes In Deferred Revenue (Details)
Revenue Recognition - Contract Balances (Details)
Revenue Recognition - Costs To Obtain And Fulfill A Contract (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Revenue Recognition - Interchange Fees And Assessments (Details)
Revenue Recognition - Remaining Performance Obligation (Details
Segment Information
Segment Information (Tables)
Segment Information - Reconciliation Of Segment Amounts To The Consolidated (Details)
Segment Information - Schedule Of Depreciation And Amortization (Details)
Segment Information - Schedule Of Operating Segment Results (Details)
Stock Compensation Plans
Stock Compensation Plans (Tables)
Stock Compensation Plans - Allocation Expense (Details)
Stock Compensation Plans - Narrative (Details)
Subsequent Events
Subsequent Events (Details)

Material Contracts, Statements, Certifications & more

First Data Corp provided additional information to their SEC Filing as exhibits

Ticker: FDC
CIK: 883980
Form Type: 10-Q Quarterly Report
Accession Number: 0000883980-18-000047
Submitted to the SEC: Wed Oct 31 2018 5:02:40 PM EST
Accepted by the SEC: Wed Oct 31 2018
Period: Sunday, September 30, 2018
Industry: Business Services

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