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SEC Filings

8-K
WORLDPAY, INC. filed this Form 8-K on 05/02/2019
Entire Document
 


Worldpay, Inc. Second Quarter and Full-Year Financial Outlook
(in millions, except share data)
 
Second Quarter Financial Outlook
Full Year Financial Outlook
 
Three Months Ended June 30,
 
Year Ended December 31,
 
2019 Outlook
 
2018 Actual
 
2019 Outlook
 
2018 Actual (1)
Revenue
$1,055 - $1,070
 
$1,007
 
$4,215 - $4,275
 
$3,925
GAAP Net income (loss) per diluted share attributable to Worldpay, Inc.
$0.30 - $0.38
 
$(0.01)
 
$1.05 - $1.55
 
$0.04
Adjusted net income per share
$1.16 - $1.19
 
$1.04
 
$4.60 - $4.70
 
$4.05
(1) Excludes contribution from Worldpay Group plc results for the period prior to the transaction closing (January 1-January 15, 2018).

Merger Agreement
On March 17, 2019, Worldpay and Fidelity National Information Services, Inc. ("FIS") announced that their boards of directors unanimously approved a definitive merger agreement pursuant to which Worldpay will combine with FIS. Following the closing of the proposed transaction (the “Merger”), current Worldpay stockholders will own 47% of the combined company and current FIS shareholders will own 53% of the combined company, on a fully diluted basis. The proposed Merger is subject to customary closing conditions, including receipt of required stockholder and regulatory approvals, and is expected to close in the third quarter of 2019.

Earnings Conference Call and Audio Webcast
Due to its pending merger with FIS, Worldpay will not host a conference call or webcast to review the first quarter 2019 financial results.

About Worldpay, Inc.
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global omni-commerce. With an integrated technology platform, Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments, including global eCommerce, integrated payments and B2B. Visit us at www.worldpay.com.

Non-GAAP and Pro Forma Financial Measures
This earnings release presents non-GAAP and pro forma financial information including adjusted EBITDA, Underlying EBITDA, adjusted net income, and adjusted net income per share. These are important financial performance measures for the Company, but are not financial measures as defined by GAAP. The presentation of this financial information is not intended to be considered in isolation of or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP and adjusted financial performance measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. The Company believes that they provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. Reconciliations of these measures to the most directly comparable GAAP financial measures are presented in the attached schedules.


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