Fidelity National Information Services, Inc.

Ladies and gentlemen, thank you for standing by. Welcome to the FIS second quarter 2019 earnings call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Instructions will be given at that time. If you require assistance during the call, please press star then zero, and an operator will assist you offline. Also, as a reminder, today's teleconference is being recorded. At this time, we'll turn the call over to your host, Head of Industrial Relations, Mr. Nate Rozoff. Please go ahead, sir.

Thank you, good morning, and thank you for joining us today for the FIS second quarter 2019 earnings conference call. This conference call is being webcasted. Today's webcast, news release, and corresponding presentation are all available at our website at fisglobal.com. Turning to slide two, today's remarks will contain forward-looking statements. These statements are subject to risks and uncertainties as described in the press release and other filings with the SEC. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Please refer to the Safe Harbor language. Also, throughout this conference call, we will be presenting non-GAAP information, including adjusted EBITDA, adjusted net earnings, and adjusted net earnings per share. These are important financial performance measures for the company, but are not financial measures as defined by GAAP. Reconciliations of our non-GAAP information to the GAAP financial information are presented in our earnings release. During today's call, Gary Norcross, our Chairman, President, and CEO, will discuss our second quarter 2019 highlights and the successful closing of the WorldPay acquisition. Woody Woodall, our CFO, will review FISs and WorldPay's second quarter financial results and provide guidance for the remainder of the year. With that, I'll turn the call over to Gary, who will begin his comments on slide three.

Gary? Thank you, Nate. Good morning, and welcome to today's call. I'm very pleased to announce that FIS and WorldPay have officially combined. We now begin the next exciting chapter in our pivot to growth strategy. I'm especially excited to welcome the WorldPay team, as well as their clients and investors, into the FIS family. Charles, Mark, Stephanie, and key leaders from WorldPay are staying with the company and joining our team to continue driving growth in the merchant business and other areas of FIS. I couldn't be more optimistic about the future of this company and what we will accomplish together. Clients and partners from both companies have shared how excited they are about the opportunities that the new FIS will bring to the table with our expanded capabilities. As a leading provider of technology for merchants, financial institutions, and capital markets across the globe, this gives us the unique ability to create seamless end-to-end experiences. Together, we will advance the way the world pays, banks, and invest, positioning us to power the digital economy. This combination redefines our roadmap to accelerating organic growth. Both FIS and WorldPay had a strong second quarter, providing us confidence that our markets remain robust and that our teams remain focused on execution. FIS has successfully generated six consecutive quarters of exceptionally strong sales. In the second quarter, sales are up more than 30%, increasing our backlog by 7% organically, giving us clear line of sight to continued accelerating revenue growth. Wins in the quarter continue to amplify client demand for our solutions, to improve the digital experience for their customers and drive operational efficiencies. For example, in our IFS segment, a large regional bank with more than $35 billion in assets expanded its relationship with us through a significant new multi-year agreement for our Digital One item processing and capture solutions to gain new efficiencies, reduce costs, and improve the digital experience for its customers. This move toward outsourced solutions also propelled a large U.S.-based insurance company to select our hosted enterprise platform to streamline feedback office processes and improve the customer support experience. Additionally, in our GFS segment, a regional arm of a top five UK institution signed a long-term agreement for an FIS core banking solution in support of the bank's goals to better serve its German-speaking markets post-Brexit. Also, a large asset management firm with more than $60 billion in assets under management chose to partner with FIS to gain cost and servicing efficiencies within its transfer agency operations. Similarly, WorldPay has maintained a strong growth trajectory as the business is ideally positioned in secular high-growth payments markets, including global e-commerce and integrated payments. Within global e-commerce, WorldPay continued its exciting sales momentum by adding 14 new cross-sell wins during the quarter, bringing the total to 56. These wins show that WorldPay's global reach and tailored solutions are clearly resonating with merchants. On day one of the FIS WorldPay combination, FIS organic growth rate increases from 4% to 6% on a pro forma annualized basis. The combination also creates significant revenue synergy opportunities of $500 million. We expect to begin realizing revenue synergies in the coming months, accelerating organic revenue growth trends towards 7% next year and then into the 7% to 9% range in the future. In addition, we will continue to invest in new value-creating opportunities to reinforce and enhance our growth by harnessing the power of our combined cash flow. Later in the call, I'll provide further perspective on our transformation into a unique global leader within commerce and financial services and the differentiated value proposition that we'll bring to our clients. But first, Woody will take us through our second quarter financial results. Woody?