FIS reports higher adjusted net earnings, EPS YOY in Q4'20; issues 2021 guidance

Fidelity National Information Services Inc. reported fourth-quarter 2020 adjusted net earnings of $1.02 billion, or $1.62 per share, compared with $977 million, or $1.57 per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the fourth quarter of 2020 was $1.56.

On a GAAP basis, the company reported a fourth-quarter 2020 net earnings attributable to common stockholders of $103 million, or 16 cents per share, compared with net loss attributable to common stockholders of $158 million, or a loss of 26 cents per share, in the year-ago period.

Revenue for the most recent quarter was $3.32 billion, a 1% decrease from $3.34 billion in the year-ago quarter, primarily due to negative consumer spending trends associated with the ongoing COVID-19 pandemic.

The company also issued its GAAP and non-GAAP guidance for the first quarter and full year 2021.

On a GAAP basis, revenue in the first quarter is expected to be between $3.13 billion and $3.16 billion, while full-year revenue is anticipated to be $13.50 billion to $13.70 billion. A loss of 20 cents per share to 5 cents per share is expected in the first quarter, while an EPS of $1.50 to $1.95 is expected for the full year.

On a non-GAAP basis, adjusted EPS is expected to be between $1.20 and $1.25 for the first quarter, while an adjusted EPS of between $6.20 and $6.40 is expected for full year 2021.

The company reported full-year 2020 adjusted net earnings of $3.42 billion, or $5.46 per share, compared with $2.53 billion, or $5.61 per share, in 2019.

The S&P Capital IQ consensus normalized EPS estimate for full year 2020 was $5.42.