Shift4 Payments Announces Preliminary Second Quarter Results
16 Juli 2021 - 2:23PM
Business Wire
Shift4 Payments (NYSE: FOUR), the leader in integrated payment
processing solutions, announced today preliminary financial results
for the three months ended June 30, 2021.
For the second quarter 2021, Shift4 Payments expects to
report:
- End-to-End Payment Volume of approximately $11,780 million to
$11,820 million
- Gross Revenue of approximately $345 million to $350
million
- Gross Revenue Less Network Fees of approximately $132 million
to $136 million
- Net Income of approximately $3.5 million to $4.5 million
- Adjusted EBITDA of approximately $43 million to $45
million
We have not yet completed our closing procedures for the three
months ended June 30, 2021. Presented below are certain estimated
preliminary financial results and selected other data for the three
months ended June 30, 2021. These ranges are based on the
information available to us at this time. We have provided ranges,
rather than specific amounts, because these results are
preliminary. As such, our actual results may vary from the
estimated preliminary results presented here and will not be
finalized until we complete of our normal quarter end accounting
procedures including the execution of our internal control over
financial reporting. These ranges reflect Shift4 management’s best
estimate of the impact of events during the quarter.
These estimates should not be viewed as a substitute for our
full interim or annual financial statements prepared in accordance
with GAAP. Accordingly, you should not place undue reliance on
these preliminary financial results and selected other data. These
estimated preliminary results and selected other data should be
read in conjunction with the “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” and “Risk
Factors” sections and our historical consolidated financial
statements, including the notes thereto.
The following tables reconcile Adjusted EBITDA to Net Income and
Gross Profit to Gross Revenue Less Network Fees:
Three Months Ended June 30,
2021
Low
High
(in millions)
(estimated and
unaudited)
Net income
$
3.5
$
4.5
Interest expense
5.5
6.0
Income tax benefit
(5.0
)
(6.0
)
Depreciation and amortization expense
25.5
26.0
EBITDA
29.5
30.5
Acquisition, restructuring and integration
costs
2.5
3.0
Equity-based compensation
11.0
11.5
Adjusted EBITDA
$
43.0
$
45.0
Three Months Ended June 30,
2021
Low
High
(in millions)
(estimated and
unaudited)
Gross profit
$
75.5
$
78.0
Add back: Other costs of sales
56.5
58.0
Gross revenue less network fees
$
132.0
$
136.0
About Shift4 Payments
Shift4 Payments (NYSE: FOUR) is a leading provider of integrated
payment processing and technology solutions, delivering a complete
omnichannel ecosystem that extends beyond payments to include a
wide range of commerce-enabling services. The company’s
technologies help power over 350 software providers in numerous
industries, including hospitality, retail, F&B, eCommerce,
lodging, gaming, and many more. With over 7,000 sales partners, the
company securely processed more than $200 billion in payments
volume for over 200,000 businesses in 2019. For more information,
visit shift4.com.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including statements regarding Shift4
Payment, Inc.’s (“our”, the “Company” or Shift4”) expectations
regarding new customers; acquisitions and other transactions; our
plans and agreements regarding future payment processing
commitments, including at Petco Park and Nationals Park; our
expectations with respect to economic recovery; and anticipated
financial performance, including our financial outlook for fiscal
year 2021. These statements are neither promises nor guarantees,
but involve known and unknown risks, uncertainties and other
important factors that may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the forward-
looking statements, including, but not limited to, the following:
the effect of the COVID-19 global pandemic on our business and
results of operations; our ability to differentiate ourselves from
our competitors and compete effectively; our ability to anticipate
and respond to changing industry trends and merchant and consumer
needs; our ability to continue making acquisitions of businesses or
assets; our ability to continue to expand our market share or
expand into new markets; our reliance on third-party vendors to
provide products and services; our ability to integrate our
services and products with operating systems, devices, software and
web browsers; our ability to maintain merchant and software partner
relationships and strategic partnerships; the effects of global
economic, political and other conditions on consumer, business and
government spending; our compliance with governmental regulation
and other legal obligations, particularly related to privacy, data
protection and information security, and consumer protection laws;
our ability to establish, maintain and enforce effective risk
management policies and procedures; our ability to protect our
systems and data from continually evolving cybersecurity risks,
security breaches and other technological risks; potential harm
caused by software defects, computer viruses and development
delays; the effect of degradation of the quality of the products
and services we offer; potential harm caused by increased customer
attrition; potential harm caused by fraud by merchants or others;
potential harm caused by damage to our reputation or brands; our
ability to recruit, retain and develop qualified personnel; our
reliance on a single or limited number of suppliers; the effects of
seasonality and volatility on our operating results; the effect of
various legal proceedings; our ability to raise additional capital
to fund our operations; our ability to protect, enforce and defend
our intellectual property rights; our ability to establish and
maintain effective internal control over financial reporting and
disclosure controls and procedures; our compliance with laws,
regulations and enforcement activities that affect our industry;
our dependence on distributions from Shift4 Payments, LLC to pay
our taxes and expenses, including payments under the Tax Receivable
Agreement; and the significant influence Rook and Searchlight have
over us, including control over decisions that require the approval
of stockholders. These and other important factors are described in
“Cautionary Note Regarding Forward-Looking Statements,” and “Risk
Factors” in Part I, Item 1A in our Annual Report on Form 10-K for
the year ended December 31, 2020, could cause actual results to
differ materially from those indicated by the forward-looking
statements made in this press release. Any such forward-looking
statements represent management’s estimates as of the date of this
press release. While we may elect to update such forward-looking
statements at some point in the future, we disclaim any obligation
to do so, even if subsequent events cause our views to change.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210716005216/en/
Investor Relations: Sloan Bohlen 610.596.4475
investors@shift4.com
Media Contacts: James McCusker
jmccusker@soleburytrout.com
Nate Hirshberg Vice President, Marketing Shift4 Payments
nhirshberg@shift4.com
Shift4 Payments (NYSE:FOUR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Shift4 Payments (NYSE:FOUR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024