Growth | ||
2024 Revenue | 6.5% - 8.5% | |
Postage reimbursements | (0.5)% | |
2024 Adjusted revenue | 6% - 8% | |
Currency impact | 8.5% | |
Acquisition adjustments | 0.0% | |
Divestiture adjustments | 0.5% | |
2024 Organic revenue | 15% - 17% |
Adjusted Earnings Per Share - The company's adjusted earnings per share outlook for 2024 excludes certain non-cash or other items such as non-cash intangible asset amortization expense associated with acquisitions; non-cash impairment charges; non-cash pension plan termination charges; merger and integration costs; severance costs; gains or losses from the sale of businesses, certain assets and investments; and certain discrete tax benefits and expenses. The company estimates that amortization expense in 2024 with respect to acquired intangible assets will decrease approximately 10% compared to the amount incurred in 2023.
Other adjustments to the company's financial measures that were incurred in 2023 and for the three months ended March 31, 2024 are presented in this news release; however, they are not necessarily indicative of adjustments that may be incurred in the remainder of 2024 or beyond. Estimates of these impacts and adjustments on a forward-looking basis are not available due to the variability, complexity and limited visibility of these items.
Fiserv, Inc. Full Year Forward-Looking Non-GAAP Financial Measures (cont.)
The company's adjusted earnings per share growth outlook for 2024 is based on 2023 adjusted earnings per share performance. | |||
2023 GAAP net income attributable to Fiserv | $ | 3,068 | |
Adjustments: | |||
Merger and integration costs 1 | 158 | ||
Severance costs | 74 | ||
Amortization of acquisition-related intangible assets 2 | 1,623 | ||
Non wholly-owned entity activities 3 | 133 | ||
Net gain on sale of businesses and other assets 4 | (167 | ) | |
Canadian tax law change 5 | 27 | ||
Tax impact of adjustments 6 | (355 | ) | |
Argentine Peso devaluation 7 | 71 | ||
2023 adjusted net income | $ | 4,632 | |
Weighted average common shares outstanding - diluted | 615.9 | ||
2023 GAAP earnings per share attributable to Fiserv - diluted | $ | 4.98 | |
Adjustments - net of income taxes: | |||
Merger and integration costs 1 | 0.21 | ||
Severance costs | 0.10 | ||
Amortization of acquisition-related intangible assets 2 | 2.11 | ||
Non wholly-owned entity activities 3 | 0.17 | ||
Net gain on sale of businesses and other assets 4 | (0.19 | ) | |
Canadian tax law change 5 | 0.04 | ||
Argentine Peso devaluation 7 | 0.12 | ||
2023 adjusted earnings per share | $ | 7.52 | |
2024 adjusted earnings per share outlook | $8.60 - $8.75 | ||
2024 adjusted earnings per share growth outlook | 14% - 16% |