Fidelity National Information Services Tops Q1 Estimates, Lands CBA Deal and $2.55B Glencore Securitization
FIS•Fidelity National Information Services posted Q1 revenue of $3.3 billion and EPS of $1.36, surpassing analyst estimates, and locked in a Commonwealth Bank deal deploying its cloud-based Data Integrity Manager to process over 150 million daily transactions. Its supply chain finance platform also enabled a $2.55 billion Glencore oil and gas receivables securitization.
1. Q1 Financial Results
Fidelity National Information Services reported quarterly revenue of $3.3 billion and earnings per share of $1.36, beating consensus estimates of $3.28 billion and $1.28 respectively. The company generated a gross profit of $1.108 billion and maintained an operating margin of 17.9%, while UBS lowered its price target to $63 from $73, implying a 48.7% upside at recent trading levels.
2. Commonwealth Bank Partnership
FIS secured a major contract with Commonwealth Bank of Australia to host its Data Integrity Manager as a SaaS solution, streamlining reconciliation processes by matching over 150 million transactions daily on a cloud-based platform.
3. Glencore Securitization
The company’s supply chain finance platform powered a $2.55 billion oil and gas trade receivables securitization for Glencore, marking one of the largest securitization deals facilitated by FIS’s technology.
4. Upcoming Conference Presentation
FIS is scheduled to present at an upcoming industry conference, where it is expected to showcase its latest technology solutions and strategic initiatives.
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FIS to Present at Upcoming Conference
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FIS Supply Chain Finance Platform Powers Landmark $2.55 Billion Glencore Oil and Gas Trade Receivables Securitization
Businesswire
