We also signed Pentair, a leader in software solutions for field service providers, including Pentair's own 17,000 plus dealers in addition to independent service companies. And so it wouldn't mean anything else there. Once again, execution in these businesses remained very strong this quarter, as evidenced by the new sales performance Jeff highlighted earlier and share gains we have realized. As we continue to gain share through our unique collaboration, we will capitalize on the broad and deep pipeline we have the good fortune to have in our issuer business. You mentioned a potential incremental margin expansion next quarter. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. The outperformance in the quarter was obviously great to see. In our higher education business, new bookings are tracking at a consistent level with 2019 despite a number of campuses being closed during the midst of the pandemic. So that probably shouldn't surprise anybody. I just wanted to follow up, Jeff, and asked about the M&A pipeline. January 24, 2012, 6:12 p.m. EST Facebook; Twitter; LinkedIn; Email; Print; Show more sharing options; Share Close extra sharing options. Just any thoughts on a preference between those two types of assets. ate to good visibility, I would imagine. I mean, I think, historically, you guys have been pretty clear that acquisitions need to be at least breakeven, but more likely accretive to year one adjusted EPS. So actually, on a core fundamental basis, margin performance was actually even better than the 250 basis points that we realized. You made a number of important announcements, both in the current quarter and previously the 11 LOIs with the financial institutions globally. Our own software businesses represent the remaining roughly 20% of our technology-enabled merchant revenue, and our leading SaaS solutions in healthcare, higher education and quick service restaurant, or QSR, have been more resilient in the current environment. Operator, we will now go to questions. Also, global payments integrated delivered adjusted net revenue growth in the quarter on a combined basis, while the leading scale and scope of our ecosystem has this business on pace to deliver another record year for new partner production. Dave, the only thing I would add to that is just I think it gives us a lot of confidence around the momentum we have in the underlying business. Just thinking about the outlook there and the pipeline and issuer, if you could make some comments there. So we mentioned Dutch Bros, we mentioned Long John Silver's today, in previous calls. And I think that's because they see what we're seeing, which is we call it the restaurant of the future, the QSR of the future, which obviously now includes safer commerce. We currently have 11 letters of intent with financial institutions worldwide, seven of which are competitive takeaways. Understood. Winnie Smith -- Senior Vice President, Investor Relations. We thank our team members for their hard work and dedication to our customers, to each other and to the communities in which we live and work during these most difficult times. The 37-year-old TSYS pulled in revenue of a little more than US$4 billion in 2018, according to Wikipedia. We delivered $433 million in adjusted net revenue for the third quarter, representing a 2.5% decline from the prior year period on a combined basis. Obviously, some of that depends on the macro. Within the United States, we're looking at both software assets as well as traditional processing assets. TSYS should easily be able to absorb the loss of Green Dot's business because of the fairly small revenue stream it provided, says Gil Luria, an analyst with Los Angeles-based Wedbush Securities. Learn more about this event. Is this more from synergies realization? I think Cameron commented on 30% increase in SaaS sales in that business in the most recent quarter. We said that they will be we announced with our script this morning. So no, I don't see us doing deals that are dilutive to the rate of organic revenue growth. And does control of the la Caixa JV allow you to do things that you couldn't do previously? A number of those are really focused on our ability to cross-sell our issuing solutions into our base of existing merchant-FI relationships outside of the U.S. We closed on our new joint venture with MoneyToPay on October 1, which expands our target addressable market to include Continental Europe for the first time. On Dec. 7, 2020, the NSA said ... Payment card processing giant TSYS suffered a ransomware attack earlier this month. As a result, we look for more activity going forward subject, of course, to the capital markets environment and outlook. I thought I'd just follow-up on the comment around the targeting $8 of EPS for next year. We are enthusiastic about the future as we continue to advance our technology-enabled software-driven goals, building upon our competitive advantages to widen our moat and to create significant long-term value for our shareholders. Our pipeline today, Andrew, is filled with cross-sells in that business. We continue to obviously manage our capital expenditures in a very efficient sort of way, while still investing for growth of basic -- the initiatives that we've talked about. With changing consumer preferences as a tailwind, we believe we will sustain higher levels of growth in our omnichannel businesses on an ongoing basis coming out of the pandemic as channel shift and market share gains continue. View TSYS (www.tsys.com) location in Georgia, United States , revenue, industry and description. And I would tell you that we vary the financial return hurdle based on risk, not surprisingly, which includes geographic and country risk and also will reflect the volatility that we see in the capital markets currently, and that may or may not persist, time will tell. Their new bookings were up 15% year-over-year. That is geared toward what I would characterize as the restaurant mid-market channel. I would characterize it as both better kind of optimization from the synergies. These statements come from February and March of 2020. TSYS . First Data was founded in Atlanta, Georgia} in 1971. So we're pretty optimistic in that business. And Asia is -- September, essentially flat. I would just add a couple of things. You mentioned a number of competitive wins. I don't see us going backwards on that. As we talked about, we raised our synergy target to $375 million. That's really helpful, guys. First, it levels the playing field by bringing leading-edge technologies previously available only to new entrants to financial institutions and retailers of all sizes worldwide. While we are not providing guidance at this time, we currently expect to have margin expansion and earnings-per-share growth for the fourth quarter, providing us with strong momentum heading into 2021. Are they being pushed out, maybe even pull forward given sort of strategic urgency? Our enterprise QSR business continued its success with Xenial's online ordering and delivery solutions, which has now enabled more than 62 million orders and greater than $1 billion in sales in 2020. Our business and consumer segment delivered high single-digit growth, achieving record third quarter revenues in a challenging macroeconomic environment and well after the April stimulus. As we sit here today, our business is healthy, and we are able to return to our capital allocation priorities. So clearly, the valuation that underpinned and the forecast has underpinned the valuation for that business reflects the environment that we're in today. Those revenue synergies are well on track and pacing relatively consistent with our original expectations for them, notwithstanding, obviously, the impacts of the pandemic. We have a number of initiatives from a digital engagement standpoint that align very well with what our strategy is in that market. I'm more optimistic today than I was at the beginning of the merger as it relates to our ability to drive revenue synergies from the combination. So yes, the trends continue to be positive. Heartland had a record new sales production period in the third quarter, up double digits year-over-year, up 25% sequentially versus the second quarter. This is a more unique year, obviously, given the pandemic and the dynamics that play with the pandemic. It sort of assumes we're continuing on the pace we're on today. That's helpful color. Our technology-enabled portfolio consists of three roughly equally sized channels. Your next question comes from the line of David Togut with Evercore ISI. The new venture also validates the types of revenue synergies we anticipated at the time of our TSYS merger. I would say, I don't think there's ever a bad time to extend a relationship with a partner like HSBC, someone that we've worked with over 50 years in our business in some form or fashion. But there isn't anything from a unique kind of onetime standpoint than I would point to in the quarter. Intercontinental Exchange annual/quarterly revenue history and growth rate from 2006 to 2020. And that would transl And that would translate to good visibility, I would imagine. Cumulative Growth of a $10,000 Investment in Stock Advisor, Total System Services Inc (TSS) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $TSS, Total System Services Inc (TSS) Q2 2020 Earnings Call Transcript, Total System Services Inc (TSS) Q1 2020 Earnings Call Transcript, Total System Services Inc (TSS) Q3 2019 Earnings Call Transcript, Why Total System Services Surged 57.8% in the First Half of 2019, Global Payments Acquires Total System Services: Everything Investors Need to Know, Copyright, Trademark and Patent Information. Your first question comes from the line of Darrin Peller with Wolfe Research. We delivered third quarter results that substantially exceeded our expectations because of our differentiated strategy and technology enablement to drive digital growth. Our issuer technology transformation is now fully under way and on track. The decrease in revenues … And then just on top of that, any data points you can give us on how you're kind of filling the funnel on the top in terms of bookings, new business trends in the merchant business versus any attrition levels would be great. I think the pace of recovery, as we've seen over the last couple of months, has begun to slow. In fact, excluding our commercial card business, which represents approximately 20% of our issued portfolio and is being impacted by limited corporate travel, this segment delivered low single-digit growth for the quarter on a combined basis. So again, continued strong strength in the Canadian market, largely on the heels of our new partnership with Desjardins, which continues to bear free for us in that market. I think as you know, SICOM, the legacy business we acquired a couple of years ago, had no real payment volume in that business. So now we have market validation from a customer base as to how we're doing. We are making great progress on our integration, which I mentioned, continues to track ahead of plan. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. We saw new SaaS sales, up 30% year-over-year. Second, it triples our target addressable market by extending our geographic footprint and transforming our technologies to attract new market entrants while dramatically expanding our distribution assets with AWS' sales force globally on a unique basis. I think you have to parse out the nature of our business in Europe relative to the nature of the markets themselves or in particular, Visa and Mastercard's proxies for the market. As I said a minute ago, given what I just said, at current price levels, we believe, buy back our stock is really a compelling opportunity. In particular, I guess, I'm trying to understand your preference between a scale, kind of a cost synergy versus looking at a growth asset that would supplement your growth rate or even take it higher. We were also excited to expand our current relationship with global storage solutions company, PODS, beyond North America and Canada into Australia. The net result was adjusted earnings per share of $1.71 for the third quarter, which compares to $1.70 in the prior year period, an impressive outcome that highlights the durability and resiliency of our model. It was difficult in March to imagine we would be in the position that we are in today. But yes, I mean, I wouldn't give you any more color really than that other than the state that we are in our budgeting cycle, and we play through all those dynamics in every year. For the end of this year, we crossed that threshold in the third quarter. Jeff, I just want to start off with your strategy around acquisitions and really the technologies and capabilities you really think you can use to fill out what's already obviously showing to hold up -- hold its own pretty well. Revenue: $4.028 billion (2018) Operating income. Those legs to the stool include owned and partnered software, include e-commerce and omnichannel businesses and exposure to faster growth market. As we move down market into the mid-market channel, which we really attack through the Heartland business, we're delighted with the success we're seeing with our Heartland restaurant solution. Using the networks as a proxy, we're growing leaps and bounds ahead of where they're growing in those markets, our ability to invest and capture more share in those businesses. We have no better partners in CaixaBank, and we believe the combination will offer significant growth opportunities for this business segment in the future. For example, in our Heartland business, nearly 2/3 of new sales are technology-driven, including our leading POS software and online ordering solutions. Global Payments Inc.’s GPN unit Total System Services (TSYS), which is its Issuer Solutions business, has renewed its agreement with Wells Fargo, the fourth largest bank in the United States. On behalf of Global Payments, thank you very much for joining us this morning. So we're very focused on our long-term model that we rearticulated and reaffirmed at the time of our partnership with TSYS about 1.5 years ago now. Hence, the announcement today of the share repurchase increment authorization and a return on capital allocation, which we put on hold in March when COVID initially started. Cameron, do you want to add to that? Our exclusive referral relationship now expands through 2040, 30 years after the initial joint venture date. Daniel Wolfe. Thank you. The top 10 competitors average 4.8B. We reinvested approximately $120 million of capex back into the business. And I would say our strategy has not changed, and you probably saw this in our release as well as our prepared comments. And I'll be happy to. So listen, we're very pleased with our Xenial business. TeleCommunication Systems, Inc. (TSYS) latest earnings report: revenue, EPS, surprise, history, news and analysis. The decrease in revenues is the result of adopting ASC 606, the company said. We are all about innovation. Okay. Jason Kupferberg -- Bank of America -- Analyst. Do we have additional cost opportunities? Total System Services Inc (NYSE:TSS)Q3 2020 Earnings CallOct 30, 2020, 8:00 p.m. All right. It doesn't make any sense to push a boulder up a further hill. Adjusted net revenue compared to the prior year on a combined basis was down just 4%, a meaningful improvement from the second quarter. And again, any time you have an opportunity to invest further in a joint venture that's been as successful as ours has been with Caixa in Spain, certainly, we jumped at the opportunity to do it. We've also brought that solution to Canada as well. Regarding our issuer business, we announced last quarter a transformational go-to-market collaboration with Amazon Web Services, or AWS, to provide an industry-leading cloud-based issuer processing platform for customers regardless of size, location or processing preference. 7.7.3 TSYS Credit Card Terminal Production Capacity, Revenue, Price and Gross Margin (2015-2020) 7.7.4 TSYS Main Business and Markets Served 7.8 PayPal 7.8.1 PayPal Credit Card Terminal Production Sites and Area Served 7.8.2 PayPal Credit Card Terminal Product … We're obviously monitoring that closely as I think the entire world continues to struggle with the pandemic. Is it just operating leverage as the business comes back online? In depth view into TeleCommunication Systems EV-to-Revenue explanation, calculation, historical data and more But given kind of the recovery that's playing out and all the synergies, could we decouple kind of from that normal seasonality? And yes, as it relates to kind of the forward look, we've said that kind of $1.6 billion to $2 billion run rate on a full year basis is kind of the job that we're producing against from a free cash flow standpoint. Having said though, we continue to execute against that pipeline, and we're well capitalized to pursue those opportunities. Global payments also had revenue of about $4 billion last year. We are grateful for our market leadership in global scaling payments, while the proliferation of technology and software in our industry should allow us to continue to drive meaningful share gains well into the future. 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