The adjusted EPS beat and reaffirmed guidance are positive, but flat organic revenue and declining adjusted margins signal underlying pressure. Watch Q4 for the promised revenue acceleration and the impact of the $500M buyback.
How the stock moved after the report
⚠ Clustered NEUTRAL VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Nov 3 $58.40entry
- T+1 · 15h ago +6.25%α +4.60% · $62.05
- T+5 · in 5d Pending
- T+20 · in 27d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outHow similar events traded
Executive Summary
Fiserv reported Q3 2026 adjusted EPS of $1.75, beating the $1.71 consensus, but GAAP revenue fell 1% YoY to $5.20B and organic revenue was flat. The company recorded a $6.45B non-cash goodwill impairment, driving a GAAP loss of $(11.17) per share. Full-year guidance for organic revenue of (1%)-0% and adjusted EPS of $7.20-$7.40 was reaffirmed, and Project Elevate savings target was raised to $1B.
Key Financial Metrics
Key Facts
- Adjusted EPS of $1.75 beat consensus of $1.71 by 2.3%.
- GAAP revenue of $5.20B decreased 1% YoY; adjusted revenue of $4.85B also down 1%.
- Organic revenue was flat YoY (Merchant -2%, Financial +2%).
- GAAP loss per share of $(11.17) due to a $6.45B non-cash goodwill impairment.
- Adjusted operating margin fell to 31.2% from 37.0% a year ago.
- Full-year 2026 guidance reaffirmed: organic revenue (1%)-0%, adjusted EPS $7.20-$7.40.
- Project Elevate savings target raised to $1B from $500M.
- Company plans $500M share repurchase in Q4 2026.
- Free cash flow for 9M 2026 was $2.04B, down from $2.88B in the prior year period.
- Net cash from operations for 9M 2026 was $3.09B vs $4.12B a year ago.
Financial Impact
Adjusted EPS beat by $0.04; GAAP loss of $11.17 per share from $6.45B impairment; adjusted revenue $4.85B vs consensus $4.84B; free cash flow down ~29% YoY.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Merchant Solutions | $2.5B | -2.0% |
| Financial Solutions | $2.3B | 0.0% |
Risk Factors
- GAAP revenue and adjusted revenue both declined YoY; organic revenue was flat.
- Adjusted operating margin contracted sharply from 37.0% to 31.2%.
- Free cash flow and operating cash flow both declined significantly.
- Goodwill impairment of $6.45B signals potential further write-downs if market cap remains depressed.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3394038 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 3, 2026 1d ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
Nov 3, 2026 1d ago | Press Release | $58.40 $62.05 | ▲ +6.25% | ▲ +4.60% | $62.05 (+6.25%) |
Oct 23, 2026 12d ago | 8-K | $49.86 $48.33 | ▼ −3.07% | ▼ −3.78% | $62.05 (+24.45%) |
Oct 20, 2026 15d ago | Institutional Cluster | $48.21 $50.82 | ▲ +5.41% | ▲ +6.59% | $62.05 (+28.71%) |
Oct 5, 2026 4w ago | Press Release | $45.48 $45.31 | ▼ −0.37% | ▼ −0.13% | $62.05 (+36.43%) |
Sep 22, 2026 6w ago | 8-K | $46.10 $45.95 | ▼ −0.33% | ▲ +0.39% | $62.05 (+34.60%) |
Aug 11, 2026 12w ago | Insider Buy | $51.56 $55.50 | ▲ +7.64% | ▲ +6.94% | $62.05 (+20.35%) |
Aug 6, 2026 12w ago | 8-K | $54.11 $52.41 | ▲ +3.14% | ▲ +3.75% | $62.05 (−14.67%) |
Jul 7, 2026 17w ago | 8-K | $50.60 $51.65 | ▲ +2.08% | ▲ +1.23% | $62.05 (+22.63%) |
Jun 26, 2026 18w ago | Institutional Cluster | $49.45 $48.83 | ▼ −1.25% | ▼ −2.90% | $62.05 (+25.48%) |
US Market Status
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