First Data misses by $0.02, misses on revs; lowers FY18 EPS outlook, reaffirms organic constant currency segment revenue growth guidance
- Reports Q3 (Sep) earnings of $0.35 per share, excluding non-recurring items, $0.02 worse than the S&P Capital IQ Consensus of $0.37; revenues rose 4.4% year/year to $2.16 bln vs the $2.22 bln S&P Capital IQ Consensus.
- Co lowers guidancefor FY18, sees EPS of $1.38-1.40 (Prior $1.42-1.47), excluding non-recurring items, vs. $1.45 S&P Capital IQ Consensus.
- The revision to the EPS guidance primarily reflects the negative impacts associated with certain significant and recent foreign currency movements, and a modest dilutive impact from recently closed divestitures. This current guidance includes an estimated year-over-year adverse impact from foreign currency movements on reported segment EBITDA of approximately $60 million in the second half of 2018 (which was approximately flat in the first half of 2018).
- Organic constant currency segment revenue growth guidance remains unchanged at 5% to 6%. Reported constant currency segment revenue growth was revised to 6.3% to 7.3%, strictly to reflect the impact of divestitures completed in the third quarter of 2018 -- this compares to previously disclosed reported constant currency segment revenue growth guidance of 7% to 8%.
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