FIS Raises FY18 Adj. EPS Outlook - Quick Facts

(RTTNews) - Financial services technology firm FIS (FIS) on Tuesday raised its adjusted earnings guidance range for the full-year 2018, based on strong operating performance, along with continued sales strength and second-half pipeline.

The company now projects fiscal 2018 adjusted earnings in a range of $5.18 to $5.34 per share, up from the prior guidance range of $5.14 to $5.34 per share. The company continues to expect consolidated adjusted organic revenue increase of 2.5 to 3.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.23 per share on revenues of $8.54 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, net income increased to $212 million or $0.64 per share from $139 million or $0.42 per share in the prior-year quarter. Adjusted earnings per share were $1.23.

However, revenues for the quarter declined 6.7 percent to $2.11 billion from last year's $2.26 billion. Organic revenue increased 0.8 percent.

The comparability of the company's second-quarter results is impacted by the divestitures of its consulting businesses in 2017 and its Kingstar business in China in 2018.

Analysts expected quarterly earnings of $1.21 per share on revenues of $2.12 billion.