Milwaukee-based Fiserv Inc. is reporting lower than expected second quarter earnings, and is lowering its guidance for future results, in its first financial report since a new CEO was hired.
The financial services tech provider reported on Aug. 6 adjusted earnings of $1.84 per share for the period ending June 30.
That was a 26% decrease from the year-earlier period and was below the consensus analysts’ estimate of $1.91 per share, according to SeekingAlpha.com.
Fiserv reported adjusted revenue of $4.96 billion, a 4% decline.
The company now expects adjusted earnings of $7.20 to $7.40 per share for 2026. The prior range was $8 to $8.30 per share, according to Seeking.Alpha.com, with the company in 2025 earning $8.64 per share.
“Growth in overall volumes, transactions and accounts, coupled with recurring revenue growth, highlight the underlying performance of our business in the second quarter,” said Chief Financial Officer Paul Todd.
“While we are adjusting our 2026 outlook, we are reiterating our expected medium-term growth rates,” Todd said, in a statement.
Fiserv stock was trading around $53 a share, down around $1.50 per share, in noon hour trading on Aug. 6.
Fiserv CEO Mike Lyons resigned his position after around 18 months to become CEO of Truist Financial Corp., the company announced June 15.
Takis Georgakopoulos, who was Fiserv’s co-president leading technology and merchant solutions, succeeded Lyons.
Fiserv on Oct. 30 reported adjusted earnings of $2.04 per share, compared to $2.30 per share for the year-earlier quarter.
Analysts had expected earnings of $2.65 per share, according to Yahoo Finance. Fiserv’s closing share price that day was $70.60, down 44%.
The earnings miss was tied to unrealistic growth projections, cost-cutting that limited customer service deliveries, and relying on short-term initiatives that neglected building long-term relationships.
This article originally appeared on Milwaukee Journal Sentinel: Fiserv reports quarterly earnings miss in first report under new CEO
Reporting by Tom Daykin, Milwaukee Journal Sentinel / Milwaukee Journal Sentinel
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By Tom Daykin, Milwaukee Journal Sentinel | USA TODAY Network
