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Fidelity National Information Services, Inc. (FIS) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Fidelity National Information Services,

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CIK: 1136893 Ticker: FIS
fislogoq22018a19fa11.jpg    
Exhibit 99.1
News Release

FIS Reports Third Quarter 2019 Results

•
FIS increases fourth quarter and full-year 2019 guidance, primarily driven by outperformance in the third quarter, strong business trends and ongoing synergy achievement
•
FIS increases full-year 2020 expense synergy target by $50 million to over $350 million

JACKSONVILLE Fla., November 5, 2019 -
FIS™ (NYSE:FIS), a global leader in financial services technology, today reported its third quarter 2019 results.

“FIS’ results this quarter exceeded our expectations; demonstrating strong growth across the entire enterprise,” said Gary Norcross, FIS chairman, president and chief executive officer. “We are pleased by the robust demand for our new merchant offerings and are making early progress against our synergy targets and overall integration of Worldpay. These successes combined with the fundamental strength of our business model and ongoing sales success gives us confidence that we are well positioned to drive further value for our clients and shareholders.”

On a GAAP basis, revenue increased 35 percent to $2,822 million from $2,084 million in the prior year period, primarily driven by the July 31, 2019 acquisition of Worldpay. Net earnings attributable to common stockholders was $154 million for the quarter or $0.29 per diluted share.

On an adjusted basis, organic revenue increased 5 percent over the prior year period. Adjusted EBITDA margin expanded 350 basis points over the prior year period to 42.2 percent. Adjusted net earnings was $751 million or $1.43 per diluted share.
($ millions, except per share data, unaudited)
 
Three Months Ended September 30,
 
 
 
 
 
 
%
 
Organic
 
 
2019
 
2018
 
Change
 
Growth
Revenue
 
$
2,822

 
$
2,084

 
35%
 
5%
Merchant Solutions
 
720

 
50

 
*
 
8%
Banking Solutions
 
1,491

 
1,433

 
4%
 
5%
Capital Market Solutions
 
611

 
589

 
4%
 
5%
Corporate and Other
 
-

 
12

 
*
 
*
Adjusted EBITDA
 
$
1,192

 
$
808

 
48%
 
 
Adjusted EBITDA Margin
 
42.2
%
 
38.7
%
 
350 bps
 
 
Net earnings attributable to FIS common stockholders (GAAP)
 
$
154

 
$
154

 
-
 
 
Diluted EPS (GAAP)
 
$
0.29

 
$
0.47

 
(38)%
 
 
Adjusted net earnings
 
$
751

 
$
438

 
71%
 
 
Adjusted EPS
 
$
1.43

 
$
1.33

 
8%
 
 

* Indicates comparison not meaningful


The following information was filed by Fidelity National Information Services, Inc. (FIS) on Tuesday, November 5, 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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Fidelity National Information Services, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Fidelity National Information Services, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Equity
Condensed Consolidated Statement Of Equity (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Earnings
Condensed Consolidated Statements Of Earnings
Basis Of Presentation
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - (Narrative) (Details)
Commitments And Contingencies - Future Commitments (Details)
Condensed Consolidated Financial Statement Details
Condensed Consolidated Financial Statement Details (Tables)
Condensed Consolidated Financial Statement Details - Cash And Cash Equivalents (Details)
Condensed Consolidated Financial Statement Details - Goodwill (Details)
Condensed Consolidated Financial Statement Details - Narrative (Details)
Condensed Consolidated Financial Statement Details - Summary Of Net Assets (Details)
Debt
Debt (Tables)
Debt - (Narrative) (Details)
Debt - (Principal Maturities Of Long-Term Debt) (Details)
Debt - (Schedule Of Long-Term Debt) (Details)
Debt - Short-Term Debt (Details)
Deferred Contract Costs
Deferred Contract Costs (Details)
Deferred Contract Costs (Tables)
Deferred Contract Costs - (Narratives) (Details)
Financial Instruments
Financial Instruments - (Narratives) (Details)
Net Earnings Per Share
Net Earnings Per Share (Tables)
Net Earnings Per Share - (Narrative) (Details)
Net Earnings Per Share - (Summary Of Earnings Per Share) (Details)
Operating Leases
Operating Leases (Tables)
Operating Leases - (Balance Sheet Classification) (Details)
Operating Leases - (Maturities Of Operating Leases) (Details)
Operating Leases - (Narratives) (Details)
Operating Leases - (Operating Lease Minimum Future Lease Payments) (Details)
Related Party Transactions
Related Party Transactions - (Narrative) (Details)
Revenue
Revenue (Tables)
Revenue - (Narrative) (Details)
Revenue - Disaggregate Revenue (Details)
Segment Information
Segment Information (Tables)
Segment Information - (Narrative) (Details)
Segment Information - (Summarized Financial Information And Narrative) (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Worldpay Acquisition
Worldpay Acquisition - Narrative (Details)
Worldpay Acquisition - Purchase Price (Details)
Worldpay Acquisition - Purchase Price Allocation (Details)
Worldpay Acquisition - Unaudited Pro Forma Results Of Operations (Details)
Worldpay Acquisition Worldpay Acquisition (Tables)

Material Contracts, Statements, Certifications & more

Fidelity National Information Services, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: FIS
CIK: 1136893
Form Type: 10-Q Quarterly Report
Accession Number: 0001136893-19-000192
Submitted to the SEC: Tue Nov 05 2019 11:17:12 AM EST
Accepted by the SEC: Tue Nov 05 2019
Period: Monday, September 30, 2019
Industry: Business Services

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