Total System Services (TSS) Tops Q2 EPS by 4c, Beats on Revenues; Boosts FY18 Outlook

Total System Services (NYSE: TSS) reported Q2 EPS of $1.11, $0.04 better than the analyst estimate of $1.07. Revenue for the quarter came in at $1.01 billion versus the consensus estimate of $937.36 million.

“We were very pleased with the performance and momentum of the second quarter as all three of our segments continue to deliver exceptional results. This performance enables us to again raise our guidance for the year while continuing to invest for the long term in preparation for our solid pipeline of new business,” said M. Troy Woods, chairman, president and chief executive officer of TSYS.

Highlights for the second quarter of 2018 vs. 2017:

• Total revenues were $1,007.6 million, a decrease of 17.6%. The decrease is the result of adopting ASC 606.(1)
• Net revenue (non-GAAP), which excludes reimbursable items, interchange and payment network fees, was $956.5 million, an increase of 13.3%.
• Net income attributable to TSYS common shareholders was $142.4 million, an increase of 23.8%. Diluted EPS were $0.78, an increase of 25.0%.
• Adjusted earnings (non-GAAP) were $203.8 million, an increase of 28.8%. Adjusted diluted EPS (non-GAAP) were $1.11, an increase of 30.0%.
• Adjusted EBITDA (non-GAAP) was $345.0 million, an increase of 12.1%.

GUIDANCE:

Total System Services sees FY2018 EPS of $4.40, versus the consensus of $4.35. Total System Services sees FY2018 revenue of $4.04 million, versus the consensus of $3.78 million.

For earnings history and earnings-related data on Total System Services (TSS) click here.

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