Home › News › Feb 2025

Global Payments Reports Fourth Quarter and Full Year 2024 Results

Staff Report From Georgia CEO

Friday, February 14th, 2025

Global Payments Inc. (NYSE: GPN) today announced results for the fourth quarter and year ended December 31, 2024.

"2024 was a pivotal year for Global Payments as we launched our broad transformation agenda to set the future course for our business," said Cameron Bready, chief executive officer. "We delivered solid financial performance consistent with our expectations, while also successfully reorienting to a unified operating model globally to address our complexity, enhance our agility and better position the business to execute against our refreshed strategy."

Bready continued, "We are pleased with the progress we have made since commencing our transformation to unlock substantial value and position the business for long-term sustainable growth and success. We now expect to deliver more than $600 million of annual run-rate operating income benefits through our transformation by the first half of 2027."

Bready concluded, "As we look ahead, we remain confident that we are on the right path with our renewed strategic focus to reach our aspiration to become the worldwide partner of choice for commerce solutions."

 

Fourth Quarter 2024 Summary

  • GAAP revenues were $2.52 billion, compared to $2.43 billion in 2023; diluted earnings per share were $2.25, compared to $1.38 in the prior year; and operating margin was 33.1%, compared to 20.5% in the prior year.

  • Adjusted net revenues increased 5% (6.5% constant currency excluding dispositions) to $2.29 billion, compared to $2.19 billion in the fourth quarter of 2023.

  • Adjusted earnings per share increased 11% (12% constant currency) to $2.95, compared to $2.65 in the fourth quarter of 2023.

  • Adjusted operating margin expanded 40 basis points to 45.2%.

Full Year 2024 Summary

  • GAAP revenues were $10.11 billion, compared to $9.65 billion in 2023; diluted earnings per share were $6.16, compared to $3.77 in the prior year; and operating margin was 23.1%, compared to 17.8% in the prior year.

  • Adjusted net revenues increased 6% to $9.15 billion, compared to $8.67 billion in 2023.

  • Adjusted earnings per share increased 11% to $11.55, compared to $10.42 in 2023.

  • Adjusted operating margin expanded 40 basis points to 45.0%.

2025 Outlook

"We are pleased with our performance during 2024, which culminated with a sequential acceleration in constant currency growth in both our Merchant and Issuer businesses, excluding dispositions," said Josh Whipple, chief financial officer. "We also generated strong adjusted free cash flow during the year, while effectively balancing returning capital to our shareholders and reducing our net leverage position."

Whipple continued, "Consistent with the medium-term outlook we provided at our Investor Conference, we expect constant currency adjusted net revenue growth to be in a range of 5% to 6%, excluding dispositions, and constant currency adjusted earnings per share growth to be in a range of 10% to 11% in 2025. Annual adjusted operating margin is expected to expand 50 basis points excluding dispositions. We also expect to return approximately $2 billion to shareholders during the year."

 

Whipple concluded, "Our outlook reflects the strategic initiatives we are undertaking through our transformation and assumes a stable macro environment. We are confident that the business has good forward momentum as we execute against our refocused strategy."

Capital Allocation

Global Payments’ Board of Directors approved a dividend of $0.25 per share payable on March 28, 2025 to shareholders of record as of March 14, 2025.

Conference Call

Global Payments’ management will host a live audio webcast today, February 13, 2025, at 8:00 a.m. ET to discuss financial results and business highlights. The audio webcast, along with supplemental financial information, can be accessed via the investor relations page of the company’s website at investors.globalpayments.com. A replay of the audio webcast will be archived on the company's website following the live event.

Non-GAAP Financial Measures

Global Payments supplements revenues, operating income, operating margin and net income and earnings per share determined in accordance with GAAP by providing these measures with certain adjustments (such measures being non-GAAP financial measures) in this earnings release to assist with evaluating our performance. In addition to GAAP measures, management uses these non-GAAP financial measures to focus on the factors the company believes are pertinent to the daily management of our operations.

 

Global Payments also has provided supplemental non-GAAP information to reflect the disposition of the consumer portion of our Netspend business, which comprised our former Consumer Solutions segment, which closed in April 2023. Management believes that providing such supplemental financial information should enhance shareholders’ ability to evaluate how the business will be managed going forward.

Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP measure is included in the schedules to this release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the items that are excluded from the non-GAAP outlook measures.