Talen Energy Corporation · NASDAQ:TLN
Talen Energy — Q3 2026 Earnings Presentation
26 slides from Talen Energy's earnings presentation, Nov 3, 2026
Slide 1: Third Quarter 2026 Financial Results
Third Quarter 2026 Financial Results November 3, 2026
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward- Looking Statements and Non- GAAP Financial Measures Forward - Looking Statements This presentation contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 , including statements regarding anticipated adjusted revenue, adjusted revenue
Slide 3: Key Takeaways
Key Takeaways • 3Q adjusted revenue performance in line with August 6 outlook • Financial Solutions returned to organic revenue growth in 3Q; YTD 25%+ improvement in core banking net attrition • Clover GPV 1 +11% Y/Y excluding gateway conversion; Clover processing revenue 2 +12% Y/Y • 4Q adjusted an
Slide 4: Business Snapshots
Business Snapshots Improvement in Core Banking Net Attrition 1 Stable Clover GPV and Processing Revenue 2 2025 Net Attrition $ GPV E xcl. Gateway Y /Y 2026 Net Attrition $ Clover Processing Revenue Y/Y >25% YTD Reported Clover Revenue Y/Y improvement 26% Return 14% to 12% 11% 12% 13% double 9% digit
Slide 5: Company Financial Metrics
Company Financial Metrics Adjusted Revenue Adjusted Operating Margin % Adjusted EPS 3Q: (1%) YTD: (3%) 3Q: (580 bps) YTD: (730 bps) 3Q: (14%) YTD: ( 19%) 37.0% 34.9% $2.04 $4,963 $1.99 $4,919 $4,900 $4,852 31.8% $4,675 31.2% $1.79 $1.84 29.7% $1.75 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 3
Slide 6: Merchant Solutions Highlights
Merchant Solutions Highlights Adjusted Revenue Adjusted Revenue Organic Revenue $2,586 $2,608 $2,538 $2,521 3Q 3Q YTD 3Q YTD $2,373 Business Line $ %∆ %∆ %∆ %∆ Small Business $1,713 (2%) (1%) (1%) (1%) Enterprise $561 (3%) (1%) (3%) -% Processing $247 (7%) (7%) (7%) (10%) Total $2,521 (3%) (1%) (2%)
Slide 7: Financial Solutions Highlights
Financial Solutions Highlights Adjusted Revenue Adjusted Revenue Organic Revenue 3Q 3Q YTD 3Q YTD $2,333 $2,362 $2,302 $2,355 $2,331 Business Line $ %∆ %∆ %∆ %∆ Digital Payments $914 (3%) (4%) -% (3%) Issuing $840 5% (4%) 7% (3%) Banking $577 (3%) (5%) (5%) (7%) Total $2,331 -% (4%) 2% (4%) 3Q25 4Q2
Slide 8: Capital Allocation and Free Cash Flow
Capital Allocation and Free Cash Flow Capital Expenditures Free Cash Flow Conversion 1 Share Repurchases Trailing 12 months | $ millions Trailing 12 months Trailing 12 months | $ millions $6,601 $1,880 $1,720 93% 91% $500 12 months 12 months 12 months ended Sept 2025 Sept 2026 ended Sept 2025 Sept 2
Slide 9: Reaffirm 2026 Guidance
Reaffirm 2026 Guidance Key Financial Metrics 2026 Guidance Organic Revenue Growth (1%) – 0% Adjusted Revenue Growth (1.5%) – (0.5%) Adjusted Operating Margin 31% – 31.5% Adjusted EPS 1 $7.20 – $7.40 FCF Conversion 2 ~90% (% of adjusted net income) See Appendix for information regarding non - GAAP fi
Slide 10: Appendix
Appendix
Slide 11: Non-GAAP Financial Measures
Non - GAAP Financial Measures Use of Non - GAAP Financial Measures This presentation includes the following unaudited non - GAAP financial measures: “adjusted revenue,” “change in adjusted revenue, ” “adjusted revenue growth,” “capital expenditures as a percentage of adjusted revenue,” “organic reve
Slide 12: Adjusted Revenue and Adjusted Operating Income
Adjusted Revenue and Adjusted Operating Income Total Company 3Q26 2Q26 1Q26 4Q25 3Q25 YTD26 YTD25 GAAP revenue $ 5,196 $ 5,292 $ 5,027 $ 5,284 $ 5,263 $ 15,515 $ 15,909 Adjustments: Postage reimbursements (344) (329) (352) (384) (344) (1,025) (1,005) Adjusted revenue $ 4,852 $ 4,963 $ 4,675 $ 4,900
Slide 13: Adjusted and Organic Revenue by Segment
Adjusted and Organic Revenue by Segment Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 Change 2026 2025 Change Total Company GAAP revenue $ 5,196 $ 5,263 (1)% $ 15,515 $ 15,909 (2)% Postage reimbursements (344) (344) (1,025) (1,005) Adjusted revenue $ 4,852 $ 4,919 (1)% $
Slide 14: Adjusted and Organic Revenue by Segment (cont.)
Adjusted and Organic Revenue by Segment (cont.) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Corporate and Other GAAP revenue $ 344 $ 344 $ 1,025 $ 1,005 Postage reimbursements (344 ) (344) (1,025) (1,005) Adjusted revenue 4 $ — $ — $ — $ — $ in millions, unau
Slide 15: Adjusted and Organic Revenue by Business Line
Adjusted and Organic Revenue by Business Line Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 Change 2026 2025 Change Small Business GAAP revenue 1 $ 1,713 $ 1,741 (2)% $ 5,082 $ 5,109 (1)% Currency impact 2 9 — 20 — Acquisition adjustments — — (35) — Organic revenue 3 $ 1
Slide 16: Adjusted and Organic Revenue by Business Line (cont.)
Adjusted and Organic Revenue by Business Line (cont.) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 Change 2026 2025 Change Digital Payments GAAP revenue 1 $ 914 $ 939 (3)% $ 2,854 $ 2,985 (4)% Disposition adjustments — (29) — (29) Organic revenue 3 $ 914 $ 910 —% $ 2,85
Slide 17: Adjusted and Organic Revenue by Business Line (cont.)
Adjusted and Organic Revenue by Business Line (cont.) 1 For all periods presented, there were no adjustments to GAAP revenue and thus adjusted revenue is equal to the GAAP revenue p res ented. 2 Currency impact is measured as the increase or decrease in adjusted revenue for the current period by app
Slide 18: Organic Revenue - Argentina Impact
Organic Revenue - Argentina Impact Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 Change 2026 2025 Change Total Company GAAP Revenue $ 5,196 $ 5,263 (1)% $ 15,515 $ 15,909 (2)% Postage reimbursements (344) (344) (1,025) (1,005) Adjusted revenue $ 4,852 $ 4,919 (1)% $ 14,4
Slide 19: Debt to Adjusted EBITDA
Debt to Adjusted EBITDA 3Q26 2Q26 1Q26 4Q25 GAAP net income (loss) attributable to Fiserv $ (5,941) $ 627 $ 571 $ 811 GAAP interest, taxes, depreciation and amortization: Interest expense and other non - operating income / expense, net 337 394 325 329 Income tax provision 137 156 24 202 Depreciation
Slide 20: Debt to Adjusted EBITDA (cont.)
Debt to Adjusted EBITDA (cont.) 1 Represents acquisition and related integration costs incurred in connection with acquisitions. Merger and integration costs i ncl ude $20 million of third - party professional service fees and $13 million of retention awards. 2 Represents costs associated with a mul
Slide 21: Adjusted Net Income and Adjusted EPS
Adjusted Net Income and Adjusted EPS TTM 3Q26 3Q26 2Q26 1Q26 4Q25 TTM 3Q25 3Q25 2Q25 1Q25 4Q24 GAAP net income (loss) attributable to Fiserv $ (3,932) $ (5,941) $ 627 $ 571 $ 811 $ 3,607 $ 792 $ 1,026 $ 851 $ 938 Adjustments: Merger and integration costs 1 95 31 23 29 12 69 24 8 15 22 One Fiserv tra
Slide 22: Adjusted Net Income and Adjusted EPS (cont.)
Adjusted Net Income and Adjusted EPS (cont.) 3Q26 2Q26 1Q26 4Q25 3Q25 YTD26 YTD25 GAAP earnings (loss) per share attributable to Fiserv - diluted $ (11.17) $ 1.17 $ 1.07 $ 1.51 $ 1.46 $ (8.90) $ 4.83 Adjustments - net of income taxes: Merger and integration costs 1 0.05 0.03 0.04 0.02 0.03 0.13 0.07
Slide 23: Adjusted Net Income and Adjusted EPS (cont.)
Adjusted Net Income and Adjusted EPS (cont.) 1 Represents acquisition and related integration costs incurred in connection with acquisitions. Merger and integration costs i nc lude $20 million and $41 million of third - party professional service fees and $13 million and $39 million of retention awa
Slide 24: Free Cash Flow
Free Cash Flow TTM 3Q26 3Q26 2Q26 1Q26 4Q25 TTM 3Q25 3Q25 2Q25 1Q25 4Q24 Net cash provided by operating activities $ 5,038 $ 1,012 $ 1,483 $ 599 $ 1,944 $ 6,339 $ 1,805 $ 1,665 $ 648 $ 2,221 Capital expenditures (1,880) (482) (498) (458 ) (442) (1,720) (507) (479) (335) (399) Adjustments: Distributi
Slide 25: Additional Information – Amortization Expense
Additional Information – Amortization Expense Total Amortization 3Q26 3Q25 YTD26 YTD25 Acquisition - related intangible assets $ 297 $ 320 $ 923 $ 993 Capitalized software and other intangibles 222 192 651 556 Purchased software 57 49 162 152 Financing costs and debt discounts 11 12 36 34 Sales comm
Slide 26: 2026 Performance Outlook
2026 Performance Outlook Change 2026 GAAP revenue (1.5%) - (0.5%) Postage reimbursements 0% 2026 Adjusted revenue (1.5%) - (0.5%) Currency impact 1 0% Acquisition adjustments (0.5%) Disposition adjustments 2 1% 2026 Organic revenue 3 (1%) - 0% See “Non - GAAP Financial Measures” slide for additional