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Total System Services down 2.9% despite, Q1 earnings beat, positive guidance.

Apr. 25, 2018 11:57 AM ETTotal System Services, Inc. (TSS) StockTSSBy: Pranav Ghumatkar, SA News Editor
  • Total System Services (TSS -1.6%) reports Q1 adj. net revenue growth of 12.3% Y/Y to $935.5M.
  • Segment statistical data: For Issuer Solutions total transactions increased by 13.85 Y/Y to 5.6B, AOF of 811.3M (+6.5%) & traditional AOF of 578.6M (+8.7 Y/Y); Merchant Solutions dollar sales volume was $37.3B (+28% Y/Y) & Netspend gross dollar volume of $9.7B (+0.9% Y/Y) where percentage of 90-day active cards with direct deposit decreased 430 bps to 51.1%.
  • Adj. segment operating margin was up 50 bps to 29.1%, where Issuer Solutions was up 100 bps to 35.6%; Merchant Solutions was down 30 bps to 34.7% & Netspend of 23.4% down 120 bps.
  • Adj. EBITDA was $330.9M (+15.2%Y/Y); adj. earnings were $207.6M (+36.3% Y/Y).
  • FY18 Outlook: GAAP revenue of $3.9-4B; adj. revenue $3.7-3.8B; GAAP EPS of $3-3.10 & adj. EPS of $4.25-4.35.
  • Previously: Total System Services beats by $0.13, beats on revenue (April 24)

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