Global Payments Updates 2021 Guidance

(RTTNews) - While reporting third-quarter results on Tuesday, Global Payments Inc. (GPN) increased the lower ends of its adjusted net revenue and adjusted earnings per share guidance by $10 million and $0.03 per share, respectively. The company now expects full year 2021 adjusted net revenue to be in the range of $7.71 billion to $7.73 billion, reflecting growth of 14% to 15%, and adjusted earnings per share to be in a range of $8.10 to $8.20, a growth of 27% to 28%.

Analysts polled by Thomson Reuters expect the company to report profit per share of $8.02 on revenue of $7.74 billion. Analysts' estimates typically exclude special items.

Third quarter adjusted earnings per share increased 28% to $2.18, compared to $1.71, last year. On average, 26 analysts polled by Thomson Reuters expected the company to report profit per share of $2.14, for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to Global Payments increased to $296.74 million or $1.01 per share from $220.97 million or $0.74 per share.

Adjusted net revenues increased 15% to $2.00 billion, compared to $1.75 billion, last year. Analysts on average had estimated $1.99 billion in revenue.

The company's Board approved a dividend of $0.25 per share payable December 30, 2021 to shareholders of record as of December 16, 2021.

Shares of Global Payments were down 4% in pre-market trade on Tuesday.