Industrials

Fiserv, Inc. (NYSE: FI) Q4 2023 Earnings Conference

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The following is a summary of the Fiserv, Inc. (FI) Q4 2023 Earnings Call Transcript: Financial Performance: Fiserv recorded a successful 2023 with an organic revenue growth of 12%, over 200 basis points of adjusted operating margin expansion, and 16% growth in adjusted earnings per share generating free cash flow of $4 billion. In Q4 2023, adjusted revenue growth of 6% to $4.6 billion, with an adjusted operating income growth of 10% to $1.9 billion, leading to an adjusted operating margin of 40.7%. For the full year 2023, the adjusted operating margin rose to 37.3% with Fiserv’s adjusted EPS increasing 16% to $7.52. Decreased its debt to adjusted EBITDA ratio to 2.7 times, within the company’s targeted leverage range. For 2024, projects an adjusted EPS of $8.55 to $8.70, indicating 14%-16% growth over 2023 and anticipates organic revenue growth of 15% to 17%. Business Progress: Progress was reported in Merchant […]

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UPS Gets A New Bull With Further Cost-Cuts Ahead

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UPS is expected to deliver expanded margins with cost-cuts ahead, according to UBS analysts. They say in a research note that the recently announced 12,000 job reduction is a significant step in reducing costs, but they expect even more at the company’s March analyst meeting. UPS is seen with low expectation among investors, but the analysts see further cost-cuts, such as potentially using technology to lower headcount, driving margin upside in 2024. They upgrade shares to buy from neutral and raise their price target to $175 a share from $160. Shares rise 4.3% to $145.12.

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United Parcel Service (NYSE:UPS) to Expand Margin, Earnings With Cost Reduction Programs, UBS Says

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United Parcel Service’s (UPS) cost reduction program is expected help its margin expansion and earnings growth despite muted revenue increase, UBS said in a report Tuesday. The firm said cost reduction through automation in buildings and rationalization of facilities can potentially support over $2 billion of annual cost savings for UPS over the coming years. UBS projects that UPS’ new cost saving programs can provide improved visibility to margin expansion in the domestic package business. “Domestic package margin is the most powerful lever for EPS generation for UPS,” the investment firm said. “Cost savings associated with a more efficient terminal network could come from lower facility and labor expense and also from savings in linehaul costs.” UBS upgraded UPS to buy from neutral and increased price target to $175 from $160. The company’s shares were up 4% in recent trading.

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Caterpillar Likely to Face Pricing Uncertainty in H2, UBS Says

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Caterpillar (CAT) is likely to face pricing uncertainty in the second half and if markets remain slow competition increases, there’s a possibility of “downside to revenues and margins,” UBS said in a note emailed Tuesday. Following a strong performance in 2023, the company’s projected guidance suggests no growth in segment profit in 2024. “Between volumes and margins, we think the bigger risk is margins, where the main risk is pricing,” the note said. While volume decline is already expected by the company in 2024, significant downside is not expected unless substantial inventory reduction is necessary. Although the oil and gas business is strong, there could arguably be room for improvements in mining business  beyond 2024, UBS said. “We’re not convinced, and we see downside risk for [Caterpillar] after the run to start 2024,” UBS said. UBS raised its 2024 EPS estimate for the company to $20.40 from $20.15 and 2025

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Fiserv Reports Fourth Quarter and Full Year 2023 Results

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Fiserv Reports Fourth Quarter and Full Year 2023 Results GAAP revenue growth of 6% in the quarter and 8% for the full year; GAAP EPS increased 18% in the quarter and 27% for the full year; Operating cash flow increased 12% to $5.16 billion for the full year; Organic revenue growth of 12% both in the quarter and for the full year; Adjusted EPS increased 15% in the quarter and 16% for the full year; Free cash flow increased 14% to $4.02 billion for the full year; Company expects 2024 organic revenue growth of 15% to 17% and adjusted EPS of $8.55 to $8.70, or growth of 14% to 16% BROOKFIELD, Wis.–(BUSINESS WIRE)–February 06, 2024– Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today reported financial results for the fourth quarter and full year 2023. Fourth Quarter and Full Year 2023 GAAP Results

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Fiserv, Inc. (NYSE: FI) Q4 Earnings, Revenue Rise; Issues 2024 Outlook; Shares Up in Pre-Bell Trading

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Fiserv (FI) reported Q4 adjusted earnings Tuesday of $2.19 per diluted share, up from $1.91 a year earlier. Analysts polled by Capital IQ expected $2.15. Revenue for the quarter ended Dec. 31 was $4.92 billion, up from $4.63 billion a year earlier. Analysts surveyed by Capital IQ expected $4.68 billion. For 2024, the payments company said it expects full-year adjusted earnings of $8.55 to $8.70 per share. Analysts surveyed by Capital IQ expect $8.60. Fiserv shares were up more than 3% in Tuesday’s pre-market trading.

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Fiserv, Inc. (NYSE: FI) 4Q Net Up, Sees Organic Rev Growth Accelerating in ’24

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By Rob Curran Fiserv Inc. said fourth-quarter net income rose 11% and the provider of services to banks and financial companies projected an acceleration in 2024 organic revenue growth. The Brookfield, Wisc., financial-technology concern logged fourth-quarter earnings of $870 million, or $1.45 a share, up from $782 million, or $1.23 a share, a year earlier. On an adjusted basis, Fiserv posted fourth-quarter earnings of $2.19 a share, topping the average analyst estimate of $2.15 a share, as tallied by FactSet. Fourth-quarter revenue rose 6.2% to $4.92 billion, topping the average Wall Street target of $4.68 billion, as per FactSet. The company forecast 2024 adjusted earnings in a range between $8.55 and $8.70 a share. For 2023, the company posted earnings of $4.98 a share. Fiserv projected organic revenue growth, which excludes the impact of foreign exchange, in a range between 15% and 17% from 2023 levels. For 2023, the fintech

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