- Company provides preliminary 2021 outlook of 7% to 12% internal revenue growth and adjusted EPS growth of 20% to 25%;
- Company expects medium-term internal revenue growth of 7% to 9% and adjusted EPS growth of 15% to 20%;
Company affirms 2020 financial outlook
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, will host a virtual Investor Conference today beginning at 8:00 a.m. CST. The event will feature presentations from Fiserv senior management and include an overview of its strategic and growth plans for the next several years. In conjunction with the event, the company is providing preliminary 2021 financial outlook and financial expectations and outlook for the medium-term horizon (2022 and 2023).
“Our preliminary outlook for 2021 and financial expectations for the medium-term showcase the overall strength, technology advantage and mission-critical relationships we have with our clients,” said Frank Bisignano, President and Chief Executive Officer of Fiserv. “Our client-centric approach and purposeful innovation is foundational to delivering accelerated internal revenue growth and strong earnings performance.”
Outlook for 2020
The company affirms its 2020 outlook for adjusted earnings per share to grow at least 11% over adjusted earnings per share for 2019, as revised for the net impact of divestitures. This outlook does not contemplate a further weakening in the current economic environment for the remainder of this year.
Bisignano added, “Despite some recent softening in demand due to COVID-19 restrictions, we continue to perform well, and remain on-track to achieve at least 11% adjusted earnings per share growth leading to our 35th consecutive year of double-digit growth.”
Preliminary 2021 Outlook
Fiserv expects internal revenue growth of 7% to 12% for 2021. The company also expects adjusted earnings per share to grow in a range of 20% to 25% over adjusted earnings per share for 2020. This preliminary outlook does not assume a significant extension of COVID-19 impact deep into 2021. The company will provide its 2021 outlook with its fourth quarter earnings update.
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Bisignano concluded, “We have broadened the lower end of our internal revenue growth range to reflect the potential for economic volatility from COVID-19 in early 2021. Fiserv remains very well positioned for continuing strong financial performance, and value creation for clients and shareholders.”
Medium-Term Outlook
Fiserv expects internal revenue growth of 7% to 9% annually for the years 2022 and 2023. The company also expects annual adjusted earnings per share growth of 15% to 20% over this timeframe. The company’s medium-term outlook assumes that the global economy has generally recovered from the impact of the COVID-19 pandemic.
2020 Investor Conference Webcast
You can attend the 2020 Investor Conference via webcast from 8 a.m. to approximately noon CST, on Tuesday, December 8, 2020. To register for the event, go to fiserv.com and click on the Events and Presentations webcast link. The presentation materials will be available in the “Investor Relations” section of the website after the conclusion of the event.
