GPN · Global Payments Inc.

Global Payments’ Q1 2026 results reflect the dual impact of major strategic transitions: the completed acquisition of Worldpay and the divestiture of Issuer Solutions, which was classified as discontinued operations effective Q2 2025 but remained in the company’s financials until closing. The GAAP loss per share of ($6.59) was driven overwhelmingly by a $1.59 billion loss from discontinued operations—primarily the accounting impact of the Issuer Solutions sale to FIS—not operational weakness. In contrast, adjusted metrics, which exclude discontinued operations and other non-recurring items, show robust underlying performance: adjusted EPS grew 10% to $2.96, and adjusted net revenue rose 29.5% to $2.86 billion. Crucially, on a normalized basis—defined in the release as including pre-acquisition Worldpay results and excluding Issuer Solutions—the company achieved 4.5% constant currency revenue growth and 110 bps operating margin expansion to 39.9%, underscoring successful integration execution and pricing discipline. Management explicitly tied this momentum to accelerated Worldpay integration, Genius platform expansion, and disciplined capital allocation. The reaffirmation of full-year guidance—including $13.80–$14.00 adjusted EPS and ~150 bps margin expansion—signals confidence in sustained execution despite macroeconomic uncertainty. Capital return activity is also accelerating: the newly announced $500 million ASR joins a $0.25 quarterly dividend, supporting the company’s commitment to returning over $2 billion to shareholders in 2026. These developments collectively reinforce Global Payments’ positioning as a scaled, integrated commerce solutions leader with clear strategic focus and execution capability.