Q4 2024 Fidelity National Information Services Inc Earnings Call Transcript
Key Points
- Fidelity National Information Services Inc (FIS) achieved an 18% growth in adjusted EPS on a normalized basis, exceeding their full-year outlook.
- The company returned $4.8 billion to shareholders through share repurchases and dividends in 2024, including $1.2 billion in the fourth quarter.
- FIS experienced a 70% year-over-year growth in new sales of digital solutions, driven by cross-sales into core clients.
- The company expanded its margin by 64 basis points in 2024, surpassing the original outlook of 20 to 40 basis points.
- FIS signed a strategic partnership with Affirm, enhancing its offerings with buy now pay later capabilities, demonstrating a commitment to innovation.
- Revenue growth in 2024 was slightly below expectations due to some one-time items, impacting the overall financial performance.
- Banking revenue growth lagged expectations in the fourth quarter due to unexpected items, including a large license deal push-out and a termination fee reversal.
- Free cash flow conversion fell short of expectations, with a full-year cash conversion of 77%, prompting the company to take action to improve working capital conversion.
- The company experienced a partial system outage in the first quarter, although it was not a cyberattack and had no material impact on results.
- Worldpay-related revenue is expected to be a slight headwind in 2025, not contributing to growth as anticipated.
Good day, and welcome to the FIS fourth-quarter 2024 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Mr. George Mihalos, Head of Investor Relations. Please go ahead.
Thank you, operator. Good morning, everyone. Thank you for joining us today for the FIS fourth-quarter 2024 earnings conference call. This call is being webcasted. Today's news release, corresponding presentation and webcast are all available on our website at fisglobal.com.
Joining me on the call this morning are Stephanie Ferris, our CEO and President; and James Kehoe, our CFO. Stephanie will lead the call with a strategic and operational update, followed by James, who will review our financial results.
Turning to slide 3. Today's remarks will contain forward-looking statements. These statements are subject to risks and uncertainties as described in the
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