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Fidelity National Information Services, Inc. (FIS) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Fidelity National Information Services,

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CIK: 1136893 Ticker: FIS

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Exhibit 99.1
News Release
FIS Reports Second Quarter 2020 Results

•Results demonstrated the power and durability of FIS’ unique business model
•Increased revenue 40% on a reported basis and (7)% on an organic basis to $2,962 million
•Achieved annual run-rate revenue synergies of approximately $115 million and annual run-rate expense synergies in excess of $700 million
•Earned Diluted EPS (GAAP) of $0.03 and Adjusted EPS of $1.15
•Generated net cash provided by operating activity of $1,231 million and free cash flow of $655 million

JACKSONVILLE Fla., August 4, 2020 -
FIS™ (NYSE:FIS), a global leader in financial services technology, today reported its second quarter 2020 results.

Second Quarter 2020 Results

On a GAAP basis, revenue increased 40% to $2,962 million, primarily driven by the July 31, 2019 acquisition of Worldpay, Inc. (Worldpay). Net earnings attributable to common stockholders was $19 million or $0.03 per diluted share.

On an organic basis, revenue decreased 7% compared to the prior year period, primarily due to reduced consumer spending trends caused by shelter-in-place, lockdown orders and other impacts associated with the ongoing COVID-19 pandemic. Organic growth was also impacted by a headwind of approximately 2%, or $60 million, associated with the U.S. tax filing deadline transitioning from the second quarter to the third quarter of 2020. Adjusted EBITDA margin expanded by 150 basis points (bps) over the prior year period to 39.1%, primarily driven by disciplined expense management as well as the acquisition of Worldpay and achievement of associated synergies. Adjusted net earnings were $718 million or $1.15 per diluted share.

“Our second quarter results reflect our ability to leverage the strength of our broad portfolio and the resiliency of our business model to successfully position FIS in attractive markets and execute on our growth strategy,” said Gary Norcross, FIS chairman, president and chief executive officer. “Throughout the pandemic, we have continued to invest in our technology and solutions, as our clients look for new and innovative ways to operate their businesses. As we continue to drive value to our shareholders, we embrace our responsibility to strive for sustained social change both domestically and globally.”

($ millions, except per share data, unaudited)Three Months Ended June 30,
%Organic
20202019ChangeGrowth
Revenue$2,962  $2,112  40%(7)%
Merchant Solutions812  97  *(25)%
Banking Solutions1,479  1,357  9%4%
Capital Market Solutions629  594  6%3%
Corporate and Other42  64  (35)%*
Adjusted EBITDA$1,157  $794  46%
Adjusted EBITDA Margin39.1 %37.6 %150 bps
Net earnings attributable to FIS common stockholders (GAAP)$19  $154  (88)%
Diluted EPS (GAAP)$0.03  $0.47  (94)%
Adjusted net earnings$718  $424  69%
Adjusted EPS$1.15  $1.30  (12)%
* Indicates comparison not meaningful



The following information was filed by Fidelity National Information Services, Inc. (FIS) on Tuesday, August 4, 2020 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 2020 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
Acquisitions
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Acquisitions - Worldplay Purchase Price (Details)
Acquisitions - Worldplay Purchase Price Allocation (Details)
Basis Of Presentation
Basis Of Presentation (Details)
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)
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) (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)

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: 0001136893-20-000200
Submitted to the SEC: Tue Aug 04 2020 4:17:52 PM EST
Accepted by the SEC: Tue Aug 04 2020
Period: Tuesday, June 30, 2020
Industry: Business Services

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