Global Payments generated a 42% normalized adjusted operating margin in Q2 2026, up 70 basis points year over year, in its first full quarter operating as a pure-play commerce solutions provider following the Worldpay acquisition and the disposition of its Issuer Solutions business.
Adjusted net revenue reached $3.16 billion, increasing approximately 34% on a reported basis. When normalized to include Worldpay’s pre-acquisition results and exclude Issuer Solutions and other divested businesses, adjusted net revenue increased approximately 4%.
The distinction highlights the scale created through the Worldpay transaction while providing a clearer picture of underlying organic growth. GAAP revenue totaled $3.32 billion.
Normalized adjusted operating margin expanded 70 basis points to 42%, demonstrating operating leverage even as the company continues integrating Worldpay and managing its newly simplified commerce-focused portfolio.
Adjusted EPS increased 12% to $3.46. GAAP diluted EPS was $0.05, reflecting the substantial accounting effects associated with acquisitions, divestitures and other adjustments surrounding the company’s portfolio transformation.
Global Payments continues integrating Worldpay’s capabilities into its existing merchant technology platform. CEO Cameron Bready said the company is combining complementary capabilities to better serve clients and partners globally.
The Genius commerce platform is also gaining adoption across Global Payments’ markets, while management says it is deploying AI throughout its ecosystem to improve solutions, enhance customer experiences and increase operational efficiency.
For full-year 2026, Global Payments now expects normalized constant-currency adjusted net revenue growth of approximately 4% to 5% and adjusted EPS of $13.60 to $13.80.
Despite Middle East-related pressure on its travel portfolio, the company continues to target approximately 150 basis points of normalized adjusted operating margin expansion for the full year.
Capital returns remain another major part of the investment case. Global Payments has returned $1.2 billion to shareholders year-to-date, exceeding half of its more than $2 billion 2026 plan, and remains on track to return approximately $7.5 billion during the 2025 to 2027 period.
The Q2 margin result suggests that the Worldpay combination is not simply increasing Global Payments’ revenue base, but is also supporting its objective of using greater scale, integration and operating efficiencies to improve profitability.
KEY QUOTES:
“We delivered solid second quarter results that were consistent with our expectations, reflecting the resilience of our business model amidst the ongoing conflict in the Middle East. I am particularly pleased with the progress that we have made on the integration of Worldpay as we combine our complementary capabilities to better serve clients and partners globally.”
“Through consistent execution and a sharp focus on commercial excellence, we continue to capitalize on growth opportunities while further differentiating Global Payments through feature-rich products and distinctive service experiences.”
Cameron Bready, CEO of Global Payments
“Our second quarter financial results were consistent with expectations and marked our first full quarter operating as a pure-play commerce solutions provider. Our performance further validates the importance of our scale and distribution and our ability to deliver sustainable growth, margin expansion, and free cash flow.”
Josh Whipple, CFO of Global Payments
