Global Payments (GPN) investor relations material

Executive summary

• First quarter 2026 results exceeded expectations, driven by strong operational execution, early integration progress, and completion of the Worldpay acquisition and Issuer Solutions divestiture, capturing significant synergies.

• Adjusted EPS rose 10% to $2.96, while normalized adjusted net revenue grew 5.5% (4.5% constant currency), reflecting healthy consumer spending and strategic focus.

• Genius platform bookings nearly doubled year-over-year, with yields up over 30%, strong adoption across enterprise and SMB clients, and a 25% increase in new locations.

• Expanded global distribution, launched new products, and secured major enterprise wins across multiple verticals.

• Integration of Worldpay and Issuer Solutions is ahead of schedule, with rapid execution and early synergy realization.

Financial highlights

• Adjusted net revenue for Q1 2026 was $2.86 billion, up 5.5% normalized and 4.5% constant currency year-over-year.

• Adjusted operating margin reached 39.9%, up 110 basis points year-over-year on a normalized basis.

• Adjusted EPS was $2.96 (reported), $2.99 (normalized), up 10–11% year-over-year.

• Adjusted net income attributable to shareholders was $808.9 million, up 21.6% year-over-year.

• Adjusted free cash flow was $544 million, with a 70% conversion rate of adjusted net income.

Outlook and guidance

• Reaffirmed full-year 2026 outlook: normalized constant currency adjusted net revenue growth of ~5%, adjusted operating margin expansion of ~150 basis points, and adjusted EPS of $13.80–$14.00.

• Expect >90% conversion of adjusted net income to adjusted free cash flow for 2026.

• Plan to return over $2 billion to shareholders in 2026 and $7.5 billion by end of 2027.

• Capital expenditures projected at ~$1 billion (~8% of adjusted net revenue) for 2026.

• Macro assumptions include stable environment, normalization of travel by Q2 end, and modest headwinds from Middle East conflict and tax payment softness.