FIS Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Monday, financial services company Fidelity National Information Services, Inc. or FIS (FIS) raised its adjusted earnings and revenue guidance for the full-year 2024.

For fiscal 2024, the company now projects adjusted earnings in a range of $5.15 to $5.20 per share on revenues between $10.14 billion and $10.17 billion.

Previously, the company expected adjusted earnings in the range of $5.03 to $5.11 per share on revenues between $10.12 billion and $10.17 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.11 per share on revenues of $10.15 billion for the year. Analysts' estimates typically exclude special items.

The Company also said it remains committed to shareholder returns and is reiterating its goal to repurchase approximately $4.0 billion of shares in 2024. It has repurchased $3.0 billion of shares year-to-date in 2024. Further, the Company continues to target a dividend payout ratio of 35 percent of adjusted net earnings, excluding EMI.

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