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NCR reduces FY'18 guidance, reports Q2 results

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NCR reduces FY'18 guidance, reports Q2 results

NCR Corp. has reduced its full-year 2018 guidance and reported its second-quarter financial results.

NCR now expects revenue growth for the year to be negative 1% to negative 3%, compared to previous revenue growth guidance of zero percent to 3%. Foreign currency negatively impacted NCR's revenue guidance by about $90 million and non-GAAP earnings per share by about 8 cents from the previous guidance.

For 2018, GAAP EPS is expected to be between 7 cents and 65 cents and non-GAAP EPS to be in the range of $2.55 to $2.75.

NCR reported a second-quarter net loss attributable to the company of $145 million, or a loss of $1.33 per share, compared to net income attributable to the company of $102 million, or 67 cents per share, in the year-ago quarter.

NCR repurchased common shares for approximately $45 million in the second quarter and $210 million in the first half of the previously authorized $300 million share repurchase program.

NCR's board on July 25 authorized an incremental $200 million of share repurchase.

In addition, NCR announced several leadership changes. CFO Bob Fishman announced his retirement.

The company appointed Owen Sullivan COO, Tim Vanderham chief technology officer and Debra Bronder senior vice president and chief human resources officer.

Sullivan previously was a senior executive at ManpowerGroup Inc., while Vanderham was chief technology officer at Thomson Reuters Corp. for its tax and accounting division. Bronder most recently led human resources for Cardtronics PLC.

The company also announced the formation of two new customer-facing business units, banking and commerce. The company appointed Frank D'Angelo to lead this banking unit. He currently serves as executive chairman of EVERTEC Inc.