Fiserv affirms 2020 profit outlook, provides in-line guidance for next year

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Fiserv Inc.

reiterated its full-year 2020 adjusted profit growth outlook of 11% over 2019 earnings, “despite some softening in demand due COVID-19 restrictions,” and said it expects 2021 adjusted earnings-per-share growth of 20% to 25%. The FactSet consensus for 2020 EPS of $4.41 implied 10.3% growth, and the 2021 EPS consensus of $5.38 implies 22% growth. Also for 2021, the company expects internal revenue growth of 7% to 12%. The payments and financial technology company said its financial outlook “does not assume a significant extension of COVID-19 deep into 2021.” The stock, which slipped 0.2% in premarket trading, has rallied 23.1% over the past three months through Monday, while the S&P 500

has gained 10.8%.

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