Fiserv Earns $1.56 Per Share

Fiserv ($FISV) just reported third-quarter earnings of $1.56 per share which was five cents more than Wall Street’s consensus.

From the CEO:

‚ÄúResults for the quarter were solid across the board and in-line with our performance expectations for the full year,” said Jeffery Yabuki, President and Chief Executive Officer of Fiserv. “Strength in our payments businesses along with continued strong sales is compelling evidence of the market-leading differentiation and value embedded in our solutions.”

More highlights from the quarter:

Adjusted earnings per share increased 24 percent in the quarter to $1.56 and increased 18 percent in the first nine months of 2013 to $4.39, as compared with the prior year periods.

Free cash flow grew 21 percent in the first nine months of 2013 to $598 million compared with $496 million in the prior year period.

Adjusted operating margin was 30.5 percent in the quarter, an increase of 60 basis points compared with the third quarter of 2012, and increased 50 basis points to 29.8 percent in the first nine months of 2013, compared with the prior year period.

Now the important stuff — forward guidance:

Fiserv expects its full year 2013 adjusted earnings per share from continuing operations to be in a range of $5.94 to $6.02, or growth of 17 to 19 percent over 2012. The company expects full year adjusted revenue growth of approximately 10 percent, and adjusted internal revenue growth of approximately 3 percent.

“We remain on track to achieve our 2013 financial objectives and have meaningful momentum as we head into 2014,” said Yabuki.

That’s an increase of ten cents per share to the low-end of their range. Fiserv has already made $4.39 per share for the first three quarters, so that implies a range of $1.55 to $1.63 per share for Q4. The shares are up a bit after hours.

Posted by on October 29th, 2013 at 4:31 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

Tickers: