Global Payments Inc – Best Industrial Stocks Today
As the name suggests, Global Payments is a payment solution company. It offers various payment technology services to its customers, who range from merchants, large financial institutions and retail consumers. The company has a presence in America, Asia, and Europe. It is a global operation with long-standing relationships and a reputation for technological innovation. The company’s 24000-strong workforce comes from 80 countries, and 20% of the workforce is based out of Asia. Around 68% is from the Americas. In the year 2020, merchant solutions accounted for 63% of the revenues. Issuer solutions accounted for 26.7%, while business and consumer solutions brought in 11% of the total revenues for 2020. Merchant solutions had the highest operating margin and accounted for the most operating profit as well. If you are looking to buy today’s industrial stocks, then check out companies like Global Payments that work behind the scenes to keep the industrial giants running.
Global Payments Releases Q32021 Earnings Numbers
On 2nd November 2021, Global Payments announced its third-quarter 2021 earnings results. Total revenues were up 15% year-on-year from $1.9 billion in Q32020 to $2.2 billion. However, the net income jumped significantly from $220 million in Q32020 to $296 million. As a result, earnings per share on a diluted basis were up from $0.74 in Q32020 to $1.01. Within the business segments, merchant solutions grew by a healthy 20.6% as compared to the same quarter the previous year. The issuer solutions segment had a relatively modest growth rate of 5.6%. The business and consumer solutions segment was rather flat, with a growth rate of 1.7%. If you are looking for the best industrial stocks today, then you might want to also look at technology companies that support the best industrial companies.
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Commenting on the quarterly results, the company management expressed its delight at the strong performance in spite of the headwinds from the pandemic. The company also announced its entry into the B2B market with the acquisition of MineralTree. Global Payments had an adjusted operating margin of 42.8% during Q32021.