FX.co ★ FIS Boosts FY24 Outlook - Update

Financial services company Fidelity National Information Services, Inc. (FIS) announced on Monday revised guidance for its adjusted earnings and revenue for the full year 2024, alongside its third-quarter financial results.

FIS now anticipates adjusted earnings to range between $5.15 and $5.20 per share, with revenues projected to be between $10.14 billion and $10.17 billion. This marks a slight increase from the company's previous forecast, which estimated adjusted earnings between $5.03 and $5.11 per share on revenues ranging from $10.12 billion to $10.17 billion.

Analysts surveyed by Thomson Reuters foresee the company earning approximately $5.11 per share on revenues of $10.15 billion for the year, with such estimates customarily excluding any special items.

Fidelity National Information Services reaffirms its dedication to enhancing shareholder returns, maintaining its strategy to repurchase roughly $4.0 billion worth of shares throughout 2024. To date, the company has already repurchased $3.0 billion in shares in the current year. Additionally, FIS continues to aim for a dividend payout ratio of 35% of adjusted net earnings, excluding EMI.