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First Data Corp (FDC) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

First Data Corp

CIK: 883980 Ticker: FDC
EXHIBIT 99.1
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First Data Reports First Quarter 2019 Financial Results

Q1 consolidated revenue of $2,316 million, up 1%
Q1 total segment revenue of $2,117 million, up 2% as reported(a), or up 8% on an organic constant currency basis(b) 
Q1 net income attributable to First Data diluted EPS of $0.17, up 64%
Q1 adjusted diluted EPS of $0.31, up 6%
Q1 total segment EBITDA of $754 million, up 3% as reported(a), or up 10% on an organic constant currency basis(b) 
Q1 cash flow from operations of $615 million; free cash flow of $397 million
Q1 total borrowings declined $158 million; net debt declined $131 million in quarter
Company reiterates full year 2019 guidance


NEW YORK, April 30, 2019 -
First Data Corporation (NYSE: FDC), a global leader in commerce-enabling technology and solutions, today reported financial results for the first quarter ended March 31, 2019.

"We delivered a great start to 2019, driven by strong growth across our core global merchant acquiring and card processing businesses," said First Data Chairman and CEO Frank Bisignano. "We remain focused on the successful execution of our growth initiatives and developing innovative solutions for our clients, and confident in the value that the merger with Fiserv will create for our clients and our shareholders."

Consolidated revenue for the first quarter was $2,316 million, up 1%(a), reflecting solid segment revenue growth, partially offset by the impact of recent divestitures in Global Financial Solutions and by unfavorable year-over-year foreign currency movements. Total segment revenue was $2,117 million for the quarter, up 2% versus the prior year period on a reported basis(a), or up 8% on an organic constant currency basis(b).

Net income attributable to First Data for the first quarter of 2019 was $169 million, or $0.17 per diluted share, up 67% and 64%, respectively, from comparable figures in the first quarter of 2018. This growth was primarily driven by improved operating performance and reduced interest expense, partially offset by unfavorable year-over-year foreign currency movements during the quarter.


(a)
GAAP growth rate.
(b)
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; and (3) includes the results of significant acquisitions in the prior year period.


The following information was filed by First Data Corp (FDC) on Tuesday, April 30, 2019 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 Cash Flows (Unaudited) (Parenthetical)
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
Acquisitions (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 - Basis Of Presentation (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Pending Merger With Fiserv, Inc. (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Recently Adopted Accounting Guidance (Details)
Borrowings
Borrowings (Tables)
Borrowings - Lines Of Credit (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)
Leases
Leases (Tables)
Leases - Narrative (Details)
Leases - Supplemental Balance Sheet Information (Details)
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

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: 0000883980-19-000017
Submitted to the SEC: Tue Apr 30 2019 7:19:04 AM EST
Accepted by the SEC: Tue Apr 30 2019
Period: Sunday, March 31, 2019
Industry: Business Services

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