GPN
I agree with the calculation. They include the business that they are planning to sell to FIS in the adjusted numbers, which they should. They are also being included as discontinued operations because they have an intent to sell, having said that GPN is earning a real profit on this business right now, of course as that business goes out sometime in q1, Worldpay will come in with there added revs and profits, hence this is not like we should be thinking about this as what happens after the sale because I expect them to grow earnings y/y (low to mid teens) again in 2026. I think the $3.26 is accurate for this period, because the business is not yet sold, hence it is continuing to operate and make money for GPN, I would maybe not see it that way if a business wasn't coming back that is gonna generate a ton of revs and profits hopefully. Because than there would be a drop off in profitability if no business was coming back, but in this case one is being sold and the other is coming back. In the mean time over the next 3 year they plan to return in some way almost 9 billion, yes 9 billion back to shareholders that to me sounds super exciting, the market now believe it should trade at 5-5.5 next years earnings while growing low to mid teens, I don't agree with that take hence why it is my #1 position in my portfolio. But time will tell. All is just my opinion, and I could always be wrong though.
AI
