Fidelity National Information Servcs (FIS) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 2, 2023 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and welcome to the FIS Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker Mr. George Mihalos, Head of Investor Relations. Please go ahead.

George Mihalos

Thank you, Sherin. Good morning, everyone. Thank you for joining us today for the FIS second quarter 2023 earnings conference call. This call is being webcasted. Today's news release, corresponding presentation, updated investor facts and webcast are all available on our website at fisglobal.com.

With me on the call this morning are Stephanie Ferris, our CEO and President; and Erik Hoag, our CFO. Stephanie will lead the call with a strategic and operational update, followed by Eric reviewing our financial results and providing forward guidance.

Turning to slide three, today's remarks will contain forward-looking statements. These statements are subject to risks and uncertainties as described in the press release and other filings with the SEC. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Please refer to the Safe Harbor language.

Also, throughout this conference call, we will be presenting non-GAAP information, including adjusted EBITDA, adjusted net earnings, adjusted net earnings per share and free cash flow. These are important financial performance measures for the company but are not financial measures as defined by GAAP. Reconciliation of our non-GAAP information to the GAAP financial information is presented in our earnings release.

With that I'll turn the call over to Stephanie.

Stephanie Ferris

Thank you, George, and thank you everyone for joining us this morning. We continue to move with speed and a sense of urgency, accelerating our path forward, and we're making strong progress, delivering on our financial and strategic commitments to drive change across the enterprise for all of our stakeholders.

On July 6th, we announced a landmark transaction with GTCR, positioning both FIS and Worldpay for long-term success and accelerating us on the path to unlock shareholder value from the planned separation.

Our Future Forward initiatives are simplifying our business and driving increased client-centricity, while improving efficiency and financial outcomes across the company. And our second quarter results show the impact of this effort, exceeding expectations and our guidance.