Global Payments Inc GPNreported second-quarter FY22 adjusted net revenue growth of 6% year-on-year to $2.06 billion, missing the consensus of $2.07 billion.
The adjusted operating margin expanded 200 basis points to 43.8%.
Adjusted EPS of $2.36 beat the consensus of $2.35.
Global Payments held $1.93 billion in cash and equivalents.
Dividend: The board approved a dividend of $0.25 per share, payable September 30, 2022, to shareholders of record on September 16, 2022.
The board authorized an increase of the company’s share repurchase program to a total available authorization of $1.5 billion.
CEO Jeff Sloan said, “Our Merchant and Issuer businesses both exceeded our targets, with our Issuer business delivering significant sequential improvement as expected.”
GPN agreed to acquireEVO Payments, IncEVOP for $4.0 billion of enterprise value.
The all-cash transaction of $34.00 per share represents a premium of approximately 24% and 40% to EVOP’s last closing price and its 60-day average price, respectively, as of July 29, 2022.
Silver Lake has committed a $1.5 billion long-term strategic investment in Global Payments in the form of convertible senior notes.
GPN agreed to sell Netspend’s consumer assets to Searchlight Capital and Rev Worldwide for $1.0 billion.
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