Slide 1: 4Q & Full Year 2023 Earnings
4Q & Full Year 2023 Earnings 2/14/2024 Innovation that delivers. COPYRIGHT GLOBAL PAYMENTS 2024 ALL RIGHTS RESERVED
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on current expectations, estimates and projections ab
Slide 3: Strong financial performance
Strong financial performance Adjusted Net Revenue Adjusted Operating Margin Adjusted EPS 4Q $2.19B 44.8% $2.65 2023 +8% +30 bps +10% +17% excluding +18% excluding dispositions dispositions Full Year $8.67B 44.6% $10.42 2023 +7% +90 bps +12% +15% excluding +16% excluding dispositions dispositions See
Slide 4: Merchant Solutions
Merchant Solutions Adjusted Adjusted 4Q 2023 Highlights Net Revenue Operating Margin 8% adjusted net revenue 4Q $1.67B 47.7% growth ex. EVO & dispositions 2023 +19% -60 bps1 20%+ increase in new Integrated sales Full Year $6.54B 48.2% 2023 +16% -80 bps1 ~20% POS growth Double digit organic 2024 Outl
Slide 5: Merchant Solutions revenue and volume trends
Merchant Solutions revenue and volume trends 2021 20221 20231 Growth YoY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY Merchant Solutions 4% 42% 21% 21% 21% 17% 15%2 11%2 9%2 13%2 11%2 19%2 20%2 19%2 17%2 Adj. Net Revenue Volume 10% 42% 22% 24% 24% 20% 15%2 11%2 9%2 13%2 10%2 20%2 21%2 19%2 18%2 1 20
Slide 6: Issuer Solutions
Issuer Solutions Adjusted Adjusted 4Q 2023 Highlights Net Revenue Operating Margin 6% core Issuer growth 2 4Q $531M 47.3% 2023 +6% -100 bps1 17% growth in MineralTree mid-market channel Full Year $2.05B 46.4% 2023 +5% +100 bps 51M increase in traditional accounts on file 2024 Outlook +5-6% +up to 50
Slide 7: 2024 outlook
2024 outlook Adjusted Net Revenue Adjusted Operating Margin Adjusted EPS $9.17B to up to 50 bps $11.54 to $9.30B of expansion $11.70 +6% to +7% +11% to +12% +>7% excluding EVO & +>14% excluding dispositions dispositions ~100% Adjusted Free Cash Flow Conversion1 1 Adjusted free cash flow estimated at
Slide 8: Non-GAAP Financial Measures
Non-GAAP Financial Measures Global Payments supplements revenues, income, operating income, operating margin, earnings per share (EPS) and net operating cash flows determined in accordance with U.S. GAAP by providing these measures with certain adjustments (such measures being non-GAAP financial measu
Slide 9: Reconciliation of Non-GAAP Financial Measures - Consolidated (unaudited)
Reconciliation of Non-GAAP Financial Measures - Consolidated (unaudited) (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company. For the three months ended December 31, 20
Slide 10: Reconciliation of Non-GAAP Financial Measures - Consolidated (unaudited)
Reconciliation of Non-GAAP Financial Measures - Consolidated (unaudited) (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company. For the years ended December 31, 2023 and
Slide 11: Reconciliation - Segment Adjusted Net Revenue and Adjusted Operating Income
Reconciliation of Non-GAAP Financial Measures - Segment Adjusted Net Revenue and Adjusted Operating Income (unaudited) (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the compa
Slide 12: Reconciliation - Segment Adjusted Net Revenue and Adjusted Operating Income
Reconciliation of Non-GAAP Financial Measures - Segment Adjusted Net Revenue and Adjusted Operating Income (unaudited) (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the compa
Slide 13: Reconciliation - Segment Adjusted Net Revenue and Adjusted Operating Income
Reconciliation of Non-GAAP Financial Measures - Segment Adjusted Net Revenue and Adjusted Operating Income (unaudited) (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the compa
Slide 14: Reconciliation - 2024 Outlook Summary (unaudited)
Reconciliation of Non-GAAP Financial Measures - 2024 Outlook Summary (unaudited) (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefit to the company. Amounts also included adjustments t