Global Payments (GPN) Q2 2026 earnings summary

Executive summary

• Achieved strong Q2 2026 results with adjusted net revenue of $3.16 billion, up 4% year-over-year on a normalized basis, and adjusted EPS of $3.46, up 12% year-over-year, despite a 100 bps headwind from the Middle East conflict impacting the travel portfolio.

• Completed acquisition of Worldpay and divestiture of Issuer Solutions, transforming into a pure-play commerce solutions provider with three new segments: Enterprise, Platforms, and SMB.

• Integration of Worldpay progressing rapidly, with key milestones achieved in operating model, technology architecture, and commercial alignment across all segments.

• Continued investment in innovation, particularly AI and the Genius platform, driving improved sales effectiveness, new product launches, and marquee client wins.

• Returned $1.2 billion in capital to shareholders year-to-date, exceeding 50% of the 2026 plan.

Financial highlights

• Adjusted net revenue: $3.16 billion, up 34% year-over-year and 4% on a normalized basis, excluding dispositions.

• Adjusted operating margin expanded 70 bps to 42.0% year-over-year on a normalized basis; adjusted EPS reached $3.46, up 12% year-over-year.

• Adjusted net income attributable to shareholders was $934 million, up 24% year-over-year.

• Adjusted free cash flow: $687 million, with a 75% conversion rate of adjusted net income.

• GAAP net income was $13 million, down from $242 million a year ago, reflecting discontinued operations and one-time items.

Outlook and guidance

• Full-year 2026 guidance: 4%–5% normalized constant currency adjusted net revenue growth.

• Adjusted operating margin expected to expand by 150 bps; adjusted EPS forecasted at $13.60–$13.80 (11%–13% growth).

• Free cash flow conversion expected to exceed 90% for the year; $2 billion+ capital return and $1 billion investment planned.

• Guidance assumes continued Middle East conflict impact on travel portfolio through year-end.