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Fiserv, First Data provide FY'19 outlooks, preliminary Q4'18 results

Fiserv Inc. and First Data Corp. released guidance for full year 2019 and preliminary results for the fourth quarter of 2018 the same day the companies announced Fiserv's $22 billion agreement to buy First Data.

The companies' 2019 outlooks do not include any impact related to the pending deal.

For full year 2019, Fiserv expects adjusted EPS to be between $3.39 and $3.52 and internal revenue growth to be between 4.5% and 5%. First Data expects organic constant-currency revenue growth between 5% and 6% and growth in its adjusted EPS in the low double digits.

The S&P Capital IQ consensus normalized EPS estimate for 2019 is $3.52 for Fiserv and $1.56 for First Data.

Fiserv reported a preliminary fourth-quarter 2018 adjusted net income of $339 million to $343 million, or 84 cents to 85 cents per share, compared to $289 million, or 68 cents per share, in the year-ago period. Preliminary full-year 2018 adjusted net income is expected to be $1.28 billion to $1.29 billion, or $3.10 to $3.11 per share, compared to $1.07 billion, or $2.48 per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate is 86 cents for the quarter and $3.12 for 2018.

For the fourth quarter of 2018, First Data reported preliminary adjusted net income attributable to the company of $364 million, or 38 cents per share, compared to $412 million, or 44 cents per share, in the year-ago period. First Data also reported preliminary full-year 2018 adjusted net income attributable to the company of $1.35 billion, or $1.41 per share, compared to $1.42 billion, or $1.51 per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate is 37 cents for the fourth quarter and $1.40 for the full year 2018.