Shift4 Payments earnings date
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Shift4 Payments (FOUR) Q3 2026 Earnings Report
FOUR Q3 2026 EPS Results
- Actual EPS
- $1.49
- Consensus EPS
- $1.37
- Beat/Miss
- Beat by +$0.13
- One Year Ago EPS
- $1.47
FOUR Q3 2026 Revenue Results
- Actual Revenue
- $1.32B
- Expected Revenue
- $652.39M
- Beat/Miss
- Beat by +$666.61M
- YoY Revenue Growth
- +12.07%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- Before Open
- Conference Call
- Thursday, November 5, 2026
Shift4 Payments's next earnings date is estimated for March 2, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was broadly positive, supported by Q3 results that met guidance, strong payments-based revenue growth, record free cash flow, international expansion, customer wins, product investment, and active capital returns. However, management adopted a more cautious stance because of travel disruption, restaurant same-store sales softness, a lower Q4 outlook, reduced EBITDA margin guidance, and a mid to high single-digit organic growth framework for 2027. Highlights significantly outweighed the stated challenges.
For the fourth quarter, guidance is GRLNF of $625 million-$640 million, Adjusted EBITDA of $285 million-$300 million, and Adjusted Free Cash Flow of $155 million-$165 million, reflecting approximately 54%-55% conversion from Adjusted EBITDA; the midpoint variance includes $20 million-$25 million from travel disruption, approximately $6 million from FX rates, and $25 million-$30 million from trading non-core revenue for higher quality payments-based revenue and deferring planned commercial initiatives in Europe. Full-year guidance is volume of $240 billion-$250 billion, GRLNF of $2.45 billion-$2.46 billion, Adjusted EBITDA of $1.11 billion-$1.13 billion, implying 45%-46% Adjusted EBITDA margins, Adjusted Free Cash Flow of $465 million-$475 million, Non-GAAP EPS of $5.05-$5.15, and Adjusted Free Cash Flow conversion from Adjusted EBITDA of 42%; year-end pro forma net leverage is expected to be about 3.6 times, while the company does not intend to exceed a pro forma net leverage of 3.75 times on a sustained basis. For 2027, the framework is mid to high single-digit organic GRLNF growth, with same-store sales viewed as a neutral variable, and incremental free cash flow conversion expected to run at the 60% zone.
- Q3 Results Met Guidance Across Major KPIsShift4 delivered results in line with previously provided guidance, including gross revenue of $1.3 billion, up 12% year-over-year; gross revenue less network fees of $648 million, up 10% year-over-year or 9% on a constant currency organic basis; and Adjusted EBITDA of $310 million, up 6% year-over-year.
- Record Adjusted Free Cash FlowAdjusted Free Cash Flow reached a record $200 million in Q3, up 42% year-over-year, representing 65% conversion from Adjusted EBITDA and $2.26 of Adjusted Free Cash Flow per share.
- Strong Payment Volumes and SpreadsPayment volumes grew 11% year-over-year to $61 billion, while blended spreads were 64 basis points, above the full-year expectation of roughly 60 basis points.
- Payments-Based Revenue GrowthPayments-based revenue less network fees reached $402 million, growing 18% year-over-year or 14% organically. The Americas grew 13% year-over-year, while the worldwide region grew 31% year-over-year.
- International Payments ExpansionWorldwide payments-based revenue was up 44% year-to-date, ahead of the high-20s growth algorithm for the worldwide region. Shift4 One is live in 15 countries, ahead of the company's operational schedule.
- Global Blue Synergy ProgressThe company expects to exit the year with nearly $50 million of annualized Global Blue synergies, in line with its original expectations and described as approximately two-thirds top-line and one-third cost synergies.
- Global Blue Customer Win with KeringKering Group, whose brands include Gucci, joined Global Blue Tax-Free Shopping, and Shift4 completed an accelerated rollout during Q3. Management cited the win as evidence of Global Blue's product differentiation despite travel disruption and an integration year.
- Restaurant Customer and Product MomentumShift4 signed Kahala Brands, its largest restaurant customer with thousands of locations, with many locations moving to Shift4 Dine. More than half of restaurant software customers now run on Shift4 Dine, and Alterra began migrating its full-service restaurants to the platform. Additional wins included La Masseria Group, John Davey Restaurants, Gastronomy Group, and Sardi's.
- Hospitality and Hotel ExpansionShift4 retained its position as the number one provider for hotel payments in the United States while adding European and U.K. hospitality volume through software integrations with MGM Muthu Hotels, Pearl Hospitality, and the Denū Hotel. Hotels are also increasingly adopting Shift4's gift and loyalty solutions.
- Sports, Entertainment, and Venue WinsShift4 signed MSG Sphere for food, beverage, and retail, continues to power ticket sales for the LA28 Olympics, and went live with its Apple and Google Wallet loyalty pass program for the Orlando Magic after the Buffalo Bills became the first professional team to launch it.
- Unified Commerce and Luxury Retail AdditionsThe company added designer brands and Wine.com in unified commerce and continued expanding partnerships with nonprofits globally. It also added Kering to Global Blue Tax-Free Shopping.
- Record Product and Platform InvestmentShift4 reported a record quarter of product and platform investment, introducing enterprise loyalty for hospitality, a new Unified Analytics platform for Shift4 Dine, and Tax-Free Shopping enhancements including QR code invoice capture and a new merchant control center.
- Share Repurchases and Capital ReturnShift4 repurchased approximately 4.2 million Class A shares at an average price of approximately $45.62 and 170,000 mandatory convertible preferred shares, returning approximately $200 million of capital to shareholders in Q3. It has returned $825 million under the existing $1 billion authorization, with $175 million remaining, and authorized a new $1 billion repurchase program beginning January 1, 2027.
- Disciplined Capital Allocation and Paramount CommerceThe company expects to close the Paramount Commerce acquisition in the coming weeks, subject to regulatory review. Management described it as a normal-course tuck-in with an upfront purchase price of less than eight times EBITDA, with further earnout incentives that could reduce the multiple over time.
- Improved Leverage Outlook and Debt MaturitiesPro forma net leverage was 3.7 times at quarter-end, with approximately $5.5 billion of total debt and $1.2 billion of cash. Management expects year-end pro forma net leverage of about 3.6 times, including the estimated capital needed to close Paramount Commerce, and stated there are no notional debt maturities until 2032.
- Long-Term Growth and Limited DilutionSince its IPO, gross revenue less network fees has compounded at over 35% annually and Adjusted EBITDA at over 43% annually, with cumulative equity dilution of just 9%.
- Smartpay and Bambora Integration ProgressSmartpay is adding hundreds of merchants per month in Australia and moving customers toward stickier products and higher-quality customers. Bambora is contributing payment volume, ACH capabilities, new customers such as Concur, and expanded payouts capabilities.
- Tax-Free Shopping ResilienceTax-Free Shopping revenue was $139 million, up 7% year-over-year, in line with expectations despite travel disruption. Management said counterbalancing performance across global travel corridors helped the business remain in line with its growth algorithm.
FOUR Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 02, 2027 | 2026 (Q4) | 1.34- | 1.6 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 1.361.49 | 1.47 | 1.36% (+0.02) | |
| Aug 06, 2026 | 2026 (Q2) | 1.261.32 | 1.1 | 20.00% (+0.22) | |
| May 07, 2026 | 2026 (Q1) | 0.970.97 | 1.07 | -9.35% (-0.10) | |
| Feb 26, 2026 | 2025 (Q4) | 1.601.60 | 1.35 | 18.52% (+0.25) | |
| Nov 06, 2025 | 2025 (Q3) | 1.451.47 | 1.04 | 41.35% (+0.43) | |
| Aug 05, 2025 | 2025 (Q2) | 1.191.10 | 0.96 | 14.58% (+0.14) | |
| Apr 29, 2025 | 2025 (Q1) | 0.701.07 | 0.54 | 98.15% (+0.53) | |
| Feb 18, 2025 | 2024 (Q4) | 1.141.35 | 0.76 | 77.63% (+0.59) | |
| Nov 12, 2024 | 2024 (Q3) | 1.061.04 | 0.82 | 26.83% (+0.22) |
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.
