Total System Services (TSS) Tops Q3 EPS by 7c, Beats on Revenues; Boosts FY18 Guidance

Total System Services (NYSE: TSS) reported Q3 EPS of $1.16, $0.07 better than the analyst estimate of $1.09. Revenue for the quarter came in at $964.6 million versus the consensus estimate of $951.36 million.

• Total revenues were $1,015.4 million, a decrease of 18.6%. The decrease is the result of adopting ASC 606.(1)
• Net revenue (non-GAAP), which excludes reimbursable items, interchange and payment network fees, was $964.6 million, an increase of 13.1%.
• Net income attributable to TSYS common shareholders was $156.0 million, an increase of 26.7%. Diluted EPS were $0.85, an increase of 28.0%.
• Adjusted earnings (non-GAAP) were $212.4 million, an increase of 30.6%. Adjusted diluted EPS (non-GAAP) were $1.16, an increase of 32.0%.
• Adjusted EBITDA (non-GAAP) was $348.5 million, an increase of 12.6%.

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

GUIDANCE:

Total System Services sees FY2018 EPS of $4.41-$4.47, versus the consensus of $4.39. Total System Services sees FY2018 revenue of $3.79-3.84 billion, versus the consensus of $3.81 billion.

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

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