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

Fidelity National Information Services,

CIK: 1136893 Ticker: FIS

fislogoq22018a19fa131.jpg
Exhibit 99.1
News Release
FIS Reports Third Quarter 2020 Results

Increased revenue 13% on a reported basis and 1% on an organic basis to $3,197 million
Achieved annual run-rate revenue synergies of approximately $150 million and annual run-rate expense synergies exceeding $700 million
Realized Diluted EPS of $0.03 and Adjusted EPS of $1.42
Generated net cash provided by operating activities of $1,411 million and free cash flow of $866 million

JACKSONVILLE Fla., October 29, 2020 -
FIS™ (NYSE:FIS), a global leader in financial services technology, today reported its third quarter 2020 results.

Third Quarter 2020 Results

On a GAAP basis, revenue increased 13% to $3,197 million, primarily due to the July 31, 2019 acquisition of Worldpay, Inc. (Worldpay). Net earnings attributable to common stockholders was $20 million or $0.03 per diluted share.

On an organic basis, revenue increased 1% as compared to the prior year period, primarily due to consumer spending trends associated with the ongoing COVID-19 pandemic. Adjusted EBITDA margin expanded by 30 basis points (bps) over the prior year period to 42.5%, primarily due to the achievement of Worldpay cost synergies. Adjusted net earnings were $887 million or $1.42 per diluted share.

“COVID-19 has greatly influenced how businesses must interact with their customers in order to survive and thrive,” said Gary Norcross, FIS chairman, president and chief executive officer. “We are pleased that our unique business model enables us to quickly deliver solutions that are helping our clients adapt to these rapidly shifting market dynamics. Our strong third quarter results demonstrate the momentum we’re building to continue accelerating revenue growth.”

($ millions, except per share data, unaudited)Three Months Ended September 30,
%Organic
20202019ChangeGrowth
Revenue$3,197 $2,822 13%1%
Merchant Solutions1,017 705 44%—%
Banking Solutions1,507 1,443 4%3%
Capital Market Solutions626 611 2%(1)%
Corporate and Other47 63 (24)%*
Adjusted EBITDA$1,357 $1,192 14%
Adjusted EBITDA Margin42.5 %42.2 %30 bps
Net earnings attributable to FIS common stockholders (GAAP)$20 $154 (87)%
Diluted EPS (GAAP)$0.03 $0.29 (90)%
Adjusted net earnings$887 $751 18%
Adjusted EPS$1.42 $1.43 (1)%
* Indicates comparison not meaningful


Segment Information

Merchant Solutions:



The following information was filed by Fidelity National Information Services, Inc. (FIS) on Thursday, October 29, 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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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 Pro Forma Information (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)
Ticker: FIS
CIK: 1136893
Form Type: 10-Q Quarterly Report
Accession Number: 0001136893-20-000273
Submitted to the SEC: Thu Oct 29 2020 4:17:53 PM EST
Accepted by the SEC: Thu Oct 29 2020
Period: Wednesday, September 30, 2020
Industry: Business Services

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