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The Company also announced the promotion of its Deputy Chief Financial Officer, Erik Hoag, to succeed Mr. The Company announced that James 'Woody' Woodall will step down from his position as Corporate Executive Vice President and Chief Financial Officer, effective November 4, 2022, after over 14 years of distinguished service with the Company.

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In addition to repurchasing approximately $300 million in shares, FIS also paid a total of $287 million in dividends during the second quarter.įIS continues to expect to primarily utilize free cash flow through the end of 2023 to return capital to shareholders through continued share repurchase and dividends. Having reached its targeted leverage of 2.9 times debt to EBITDA, FIS resumed share repurchase under its existing 100 million share authorization. The Company used the net proceeds from the Senior Notes offering to repay debt under its commercial paper programs. dollar senior notes at a weighted average interest rate of 4.95%. On July 13, FIS issued $2.5 billion of U.S. Second quarter net cash provided by operating activities was $1,024 million, and free cash flow was $806 million. Adjusted EBITDA loss was $69 million, including $89 million of corporate expenses.Īs of June 30, 2022, debt outstanding totaled $18.5 billion. Second quarter revenue increased by 1% as compared to the prior-year period to $91 million, including the continuing wind down of non-strategic businesses. Adjusted EBITDA margin contracted by 280 basis points to 47.1%, primarily due to high contribution margins associated with e-commerce revenue affected by the Russia/Ukraine conflict, investment in geographic expansion to support our Global eCommerce business, and accelerated investment in e-commerce and Payrix sales channels to capitalize on developing secular growth trends. Revenue increased by 11% on a GAAP basis, 14% on a constant currency basis and 12% on an organic basis as compared to the prior-year period to $1.3 billion, including approximately one percentage point of headwind due to the Russia/Ukraine conflict. Adjusted EBITDA margin expanded by 140 basis points over the prior-year period to 47.8%, primarily due to focused expense management and continued operating leverage. Adjusted EBITDA increased by 9% as compared to the prior-year period to $317 million. Revenue increased by 5% on a GAAP basis and 7% on an organic basis as compared to the prior-year period to $663 million, primarily due to strong new sales momentum contributing to 10% recurring revenue growth.

Adjusted EBITDA margin contracted by 130 basis points as compared to the prior-year period to 44.3%, primarily due to difficult comparisons created by the high contribution margins associated with term fees and pandemic-related revenue in the prior-year period as well as ongoing wage inflation. Revenue increased by 5% on a GAAP basis, and 6% on an organic basis, as compared to the prior-year period to $1.7 billion, primarily due to ramping large client wins contributing to 7% recurring revenue growth. Net earnings attributable to FIS common stockholders (GAAP)

($ millions, except per share data, unaudited) We reduced our leverage to 2.9 times, and our robust free cash flow allowed us to return approximately $600 million in capital to shareholders during the second quarter through share repurchase and dividends.' In an uncertain macro environment, the durability of our financial model is also a significant advantage for FIS. 'These results are a testament to the value we bring to our clients by executing our business strategy, investing for growth and bringing innovative and end-to-end offerings to market. 'I’m very pleased with the strong financial results we delivered this quarter,' said Gary Norcross, FIS Chairman and Chief Executive Officer. JACKSONVILLE, Fla., August 04, 2022-( BUSINESS WIRE)-FIS ® (NYSE:FIS), a global leader in financial services technology, today reported its second quarter 2022 results. Woodall as Corporate Executive Vice President and Chief Financial Officer Generated Diluted EPS of $0.45 and Adjusted EPS of $1.73Īfter 14 years of distinguished service, James 'Woody' Woodall to step down from his position as CFO, effective November 4, 2022, with Deputy CFO Erik Hoag to succeed Mr. Increased revenue 7% on a GAAP basis and 8% on an organic basis to $3.7 billion