First Data Revises EPS Outlook To Reflect Adverse Foreign Currency Movements

(RTTNews) - First Data Corp. (FDC) announced, for 2018, adjusted EPS is now expected in the range of $1.38 to $1.40, compared to previously disclosed guidance of $1.42 to $1.47. The company said the revision primarily reflects the negative impacts associated with certain significant and recent foreign currency movements, and a modest dilutive impact from recently closed divestitures. The current guidance includes an estimated year-over-year adverse impact from foreign currency movements on reported segment EBITDA of approximately $60 million in the second half of 2018.

For 2018, organic constant currency segment revenue growth guidance remains unchanged at 5% to 6%. Reported constant currency segment revenue growth was revised to 6.3% to 7.3%, to reflect the impact of divestitures completed in the third quarter of 2018 - compared to prior reported constant currency segment revenue growth guidance of 7% to 8%.

For the third-quarter, adjusted net income was $340 million, or $0.35 per diluted share, down 9% and 13%, respectively, from comparable figures in the third quarter of 2017. Total segment revenue was $2.16 billion for the quarter, up 4% versus the prior year period on a reported basis, up 3% on a comparable accounting basis, or up 5% on an organic constant currency basis.