Fiserv earnings date
Fiserv (FISV) Q3 2026 Earnings Report
CH:FISV Q3 2026 EPS Results
- Actual EPS
- CHF 1.46
- Consensus EPS
- CHF 1.44
- Beat/Miss
- Beat by +CHF 0.03
- One Year Ago EPS
- CHF 1.70
CH:FISV Q3 2026 Revenue Results
- Actual Revenue
- CHF 4.34B
- Expected Revenue
- CHF 4.05B
- Beat/Miss
- Beat by +CHF 291.56M
- YoY Revenue Growth
- -1.27%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/03/2026
- Time
- Before Open
- Conference Call
- Tuesday, November 3, 2026
Fiserv's next earnings date is estimated for February 9, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was predominantly positive. Management reported stabilization in organic revenue, improving banking attrition and client wins, strong issuing and payments activity, Clover GPV growth, expanded Commerce Hub momentum, significant AI-enabled operating improvements, a doubled Project Elevate savings target and reaffirmed guidance. These positives were partly offset by current revenue declines, banking revenue pressure from prior attrition, Argentina-related headwinds, a goodwill impairment charge, ongoing transformation spending and uncertainty regarding noncore asset transactions.
Fiserv reaffirmed adjusted revenue for 2026 of down 1.5% to down 0.5% and organic revenue of minus 1% to flat; for Q4, Merchant expects adjusted and organic revenue growth in the 6% to 8% range, while Financial Solutions adjusted revenue is expected to decline in the low single digits due to divestitures, with organic revenue growth roughly consistent with the 2% reported in Q3, including an approximate 400 basis point impact to issuing and an approximate 500 basis point impact to digital payments. The company continues to expect adjusted operating margin of approximately 31% to 31.5%, adjusted EPS between $7.20 and $7.40, a 19% adjusted tax rate for the year and an approximate 23% adjusted tax rate for Q4, capital expenditures of high single-digit percent of adjusted revenues, approximately 90% free cash flow conversion, and a year-end gross leverage ratio of approximately 3x; it also expects Clover revenue growth in the mid-single digits for the year and Clover GPV growth of 10% to 15% ex the gateway conversion, with the banking segment expected to return to low single-digit adjusted revenue growth and Financial Solutions’ medium-term growth range of 2% to 4%.
- Revenue Trajectory StabilizedManagement stated that Fiserv is past the Q2 revenue trough. Third-quarter organic revenue stabilized at flat year-over-year, in line with expectations, with Financial Solutions already delivering organic revenue growth and Merchant Solutions and the overall company expected to return to growth in the fourth quarter.
- Third-Quarter Results Met ExpectationsQ3 adjusted revenue was $4.85 billion, down 1% year-over-year and within the guided low single-digit percent decline range. Adjusted operating income was $1.5 billion, adjusted operating margin was 31.2%, adjusted EPS was $1.75, and free cash flow was $679 million. Year-to-date free cash flow conversion was approximately 71%, with approximately 90% targeted for the full year.
- Financial Solutions Organic GrowthFinancial Solutions adjusted revenue was unchanged year-over-year, including a 200 basis point impact from divestitures, while organic revenue grew 2%, in line with the low end of the medium-term target range.
- Issuing Growth and New ImplementationsIssuing adjusted revenue grew 5% and organic revenue grew 7%, supported by continued business growth and successful implementations, including Desjardins in Canada and the Direct Express program in the U.S. for the federal government. Management said the global pipeline supports sustaining issuing growth in 2027.
- Banking Attrition and Client Wins ImprovedRevenue-based banking attrition was down 17% year-to-date, new core losses were down by double digits, and client wins increased by more than 50% from last year. Management said elevated attrition has peaked and expects to return to historical attrition levels, with banking revenue improvements expected to flow through over 9 to 12 months.
- Finxact and Banking Platform MomentumFinxact continued to win customers and surpassed 50 million accounts. DNA, CoreAdvance and Finxact led banking wins, including the $20 billion Pinnacle Bancorp implementation on CoreAdvance. AgentOS had nearly 200 banks in the pipeline, with pilot banks nearing production deployment.
- Payments Network and Zelle GrowthTotal debit transactions increased at a healthy mid-single-digit rate, driven by both merchant and issuer businesses. Zelle transactions grew more than 20%, and CashFlow Central surpassed 60,000 active small and midsize businesses.
- Clover GPV and Processing MomentumClover GPV grew 9% on a reported basis and 11% excluding the previously discussed gateway conversion. Clover processing revenue grew 12%, driven by GPV. Management continues to expect Clover GPV growth of 10% to 15% excluding the gateway conversion, with the low end of that range representing current performance.
- Commerce Hub and Enterprise ExpansionCommerce Hub benefited from e-commerce and platform momentum, with transaction growth of 100% year-over-year in the prepared remarks and enterprise transactions later described as having doubled. Customers and wins included Microsoft, the California Franchise Tax Board, a leading online sports betting company and a global fast-food chain. Dell expanded its Commerce Hub capabilities to include Pix in Brazil.
- Clover Product and Distribution ExpansionClover's North America ISO business delivered double-digit growth, while ISV, direct and bank channels also grew. New developments included Clover Capital growth, Clover high-yield savings through StoneCastle, Clover Sport additions, Clover integration with DoorDash's DashOS, Clover agent expansion and Clover e-commerce enabled for 5,000 merchants.
- Clover for Enterprise Launch PlannedFiserv plans to launch Clover for Enterprise in 2027, unifying card-present and e-commerce acceptance and enabling Clover to serve larger, more complex, multi-location merchants. Management said the integration with Commerce Hub removes a prior constraint on Clover's ability to support clients as they move upmarket.
- Infrastructure Reliability ImprovedCore acquiring, issuing and network platforms continued to operate at five 9s uptime. Banking infrastructure improved with a 75% year-over-year reduction in client-impacting incidents. Fiserv also accelerated cybersecurity investments and developed capabilities to remediate vulnerabilities at AI speed using frontier models.
- Project Elevate Savings Target DoubledFiserv increased its Project Elevate savings target to $1 billion from the previously communicated $500 million. Management said the opportunity supports a path toward a 37% adjusted operating margin over the long term and continues to expect at least a 1:1 return on Elevate savings versus transformation expense.
- AI-Enabled Operating ImprovementsEmbedding agents in the Clover risk-hold process reduced decision times by two-thirds and reduced false positives by more than 40%. The Agentic call center achieved a containment rate above 40%, a 5 to 10x return on token cost and no negative impact on customer NPS. Fiserv also reported faster code deployment and modernization of legacy applications through work with Cognition, Anthropic and OpenAI.
- Capital Allocation and Leverage ProgressFiserv plans to repurchase $500 million of stock in the fourth quarter while remaining on track with year-end leverage targets. Gross debt to adjusted EBITDA ended the quarter at 3.1x after more than $800 million of debt paydown during the quarter, and the company expects to end the year at approximately 3x gross leverage.
- Full-Year and Fourth-Quarter Guidance ReaffirmedFull-year guidance was unchanged: adjusted revenue down 1.5% to down 0.5%, organic revenue from minus 1% to flat, adjusted operating margin of approximately 31% to 31.5%, adjusted EPS of $7.20 to $7.40, high single-digit percentage capital expenditures as a share of adjusted revenue and approximately 90% free cash flow conversion. For Q4, Merchant Solutions organic and adjusted revenue growth is expected at 6% to 8%, while Financial Solutions organic revenue growth is expected to be roughly consistent with Q3's 2%.
- Workforce and Governance ChangesSince Takis Georgakopoulos became CEO, Fiserv has reduced contractors and employees by 3,000, including a more than 10% reduction in senior management. The company also added Raj Seshadri to the Board and said recent appointments strengthened its industry expertise and stewardship.
CH:FISV Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 09, 2027 | 2026 (Q4) | 1.59- | 1.66 | ― | ― |
| Nov 03, 2026 | 2026 (Q3) | 1.441.46 | 1.7 | -14.22% (-0.24) | |
| Aug 06, 2026 | 2026 (Q2) | 1.601.54 | 2.06 | -25.51% (-0.53) | |
| May 05, 2026 | 2026 (Q1) | 1.311.50 | 1.79 | -16.36% (-0.29) | |
| Feb 10, 2026 | 2025 (Q4) | 1.591.66 | 2.1 | -20.72% (-0.43) | |
| Oct 29, 2025 | 2025 (Q3) | 2.211.70 | 1.92 | -11.30% (-0.22) | |
| Jul 23, 2025 | 2025 (Q2) | 2.032.06 | 1.78 | 15.96% (+0.28) | |
| Apr 24, 2025 | 2025 (Q1) | 1.731.79 | 1.57 | 13.83% (+0.22) | |
| Feb 05, 2025 | 2024 (Q4) | 2.082.10 | 1.83 | 14.61% (+0.27) | |
| Oct 22, 2024 | 2024 (Q3) | 1.891.92 | 1.64 | 17.35% (+0.28) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
