Fidelity National Information Services, Inc. (NYSE:FIS) Q4 2022 Earnings Call Transcript

Operator: Thank you. And we do have time for one final question, that will come from the line of Dan Dolev with Mizuho. Your line is open.

Dan Dolev: Hey. Thanks for squeezing me in, Stephanie, I appreciate it and congrats on the decision. I just want to know, maybe just a housekeeping thing, maybe I missed it, but does the Banking and Capital Markets guidance for €˜23 also assume a recession? And then I have a very short follow-up.

Erik Hoag: Hey. Good morning Dan, that’s right. We have €“ I would say, broadly speaking, as Stephanie talked about a couple of minutes ago, the elongation of sales cycles is the predominant element that we have included in our guide for Banking and Capital Markets.

Dan Dolev: Got it. So, I get it does. And then just a quick follow-up, just maybe I missed it on Slide 20. Can you maybe just maybe unpack your margin guidance by segment? And again, apologies if I missed it. Thank you.

Erik Hoag: Sure. So, the Banking business, we have margins expanding, roughly 50 basis points. We have got Capital Markets expanding 50 basis points to 100 basis points. And we have got margin headwinds in both corporate €“ Merchant and the Corporate segment associated with the revenue declines that we are experiencing in those segments.

Operator: Thank you. Thank you all for participating in today’s question-and-answer session. I would now like to turn the call back over to Ms. Stephanie Ferris for any closing remarks.

Stephanie Ferris: Thank you for joining everyone on such short notice. I very much appreciate it. As I noted earlier, 2023 will be a year of recommitment for FIS. And with that in mind, we are making great strides and taking bold actions to move the company forward with a focus on creating incremental value for shareholders and clients alike. I am proud of our FIS colleagues across the globe and the great progress we are making in just a few short months towards delivering on our commitments to our stakeholders. I look forward to keeping you updated on our journey moving FIS into the future. Thank you.

Operator: Thank you all for participating. This concludes today’s program. You may now disconnect.