==Fidelity Nat'l Info (FIS) reported earnings on Mon 6 May 24 (a/h)

 

 Fidelity Nat'l Info beats by $0.37, reports revs in-line; guides Q2 EPS above consensus, revs in-line; guides FY24 EPS above consensus, reaffirms FY24 revs guidance; increases repurchase plan by $500 mln

• Reports Q1 (Mar) earnings of $1.33 per share, excluding non-recurring items, $0.37 better than the FactSet Consensus of $0.96; revenues rose 2.9% year/year to $2.47 bln vs the $2.44 bln FactSet Consensus.
• Co issues guidance for Q2, sees EPS of $1.21-1.25, excluding non-recurring items, vs. $1.14 FactSet Consensus; sees Q2 revs of $2.465-2.490 bln vs. $2.49 bln FactSet Consensus.
• Co issues guidance for FY24, sees EPS of $4.88-4.98 (up from $4.66-4.76), excluding non-recurring items, vs. $4.72 FactSet Consensus; sees FY24 revs of $10.10-10.15 bln vs. $10.13 bln FactSet Consensus.
• Announces $500 million increase to 2024 share repurchase goal; targeting $4.0 billion of repurchases for the year.

Fidelity Nat'l Info outlines medium-term outlook; targeting +9-12% adjusted EPS growth, +4.5-5.5% adjusted revenue growth

• Co provided its multi-year strategy:
  • Leveraging its strong foundation.
  • Executing to deliver profitable growth.
    
  • Allocating capital with discipline.
• Co also announced its financial growth targets for 2025-2026:
  • Adjusted revenue growth of 4.5-5.5% annually.
    
  • Adjusted EBITDA margin expansion of 40-60 basis points annually.
    
  • Adjusted earnings per share (EPS) growth of 9-12% annually.
    
  • Total return of 11-14% annually (including ~2% dividend yield).