Welcome to our dedicated page for Fiserv news (Ticker: FI), a resource for investors and traders seeking the latest updates and insights on Fiserv stock.
Fiserv, Inc. (NASDAQ: FI) is a prominent American multinational corporation headquartered in Brookfield, Wisconsin. With a rich history in the financial technology sector, Fiserv provides a broad range of services to banks, credit unions, securities broker-dealers, mortgage companies, insurance firms, leasing and finance companies, and retailers.
As a leading provider of core processing and complementary services, Fiserv specializes in electronic funds transfer, payment processing, and loan processing. These services are critical for small and midsize banks and credit unions, helping them manage their day-to-day operations efficiently.
In 2019, Fiserv significantly expanded its capabilities by merging with First Data, a move that strengthened its position in the payment processing sector, particularly for merchants. This merger has allowed Fiserv to offer a more comprehensive suite of payment solutions and enhance its service offerings.
Despite being primarily focused on the US market, approximately 10% of Fiserv's revenue is generated from international operations. This global reach ensures that the company remains a key player in the financial technology landscape worldwide.
Fiserv's dedication to innovation and customer satisfaction has led to numerous recent achievements. The company continues to invest in new technologies and partnerships to stay ahead in the competitive fintech market. Current projects include the development of advanced payment solutions, improved security measures, and enhanced digital banking platforms.
Financially, Fiserv maintains a strong position with consistent revenue growth and robust financial health. The company's strategic initiatives and operational efficiencies contribute to its long-term stability and growth potential.
Expro Group has successfully completed its merger with Frank’s International N.V., creating a leading energy services company. The new entity will trade on the NYSE under the symbol 'XPRO' starting October 4, 2021, while Frank’s stock ceased trading under 'FI' as of October 1, 2021. CEO Mike Jardon emphasized a commitment to innovation, safety, and sustainability. The merger enhances Expro’s capabilities, expanding its customer base and market reach, with potential for significant cost and revenue synergies, as well as a robust technology portfolio aimed at reducing carbon intensity.
Frank’s International N.V. (NYSE: FI) announced the successful approval of all proposals at its Annual General Meeting, including the merger with Expro, which garnered over 90% shareholder support. The merger is set to close on October 1, 2021, fulfilling all closing conditions. A reverse stock split at a ratio of 6-for-1 will occur concurrently with the merger's completion. Management expressed confidence in the combined entity's potential for growth and profitability, enhancing market position and service offerings in the energy sector.
Frank's International N.V. (NYSE: FI) has achieved record operational milestones for a supermajor offshore operator in Canada. Utilizing proprietary technologies like the Collar Load Support System (CLSTM), the company improved joint handling efficiency by 133%, raising the average joints per hour from 3 to 7. This resulted in significant time and cost savings for a multi-well program while enhancing personnel safety. The BACKPACKERTM system successfully managed 1,357 joints with only one rejection, underlining Frank's commitment to innovation and operational excellence.
Expro has successfully concluded a Plug and Abandonment (P&A) project for PETRONAS subsidiary PC Mauritania 1 Pty Ltd, valued over
Frank’s International N.V. (NYSE: FI) reported a second quarter revenue of $107.8 million, marking a 14% increase from the previous quarter and 25% year-over-year. The net loss improved to $12.6 million from $23.9 million. Adjusted EBITDA reached $12.4 million, an 85% increase sequentially. The company is on track for a strategic merger with Expro Group to enhance its energy services portfolio. Revenue growth was noted across all segments, with significant contributions from U.S. Gulf of Mexico and geothermal energy projects, indicating strong operational momentum.
Frank's International (NYSE: FI) announced it received the inaugural 2021 Most Valuable Partner Award from a major operator for its outstanding service in Guyana. The award recognized Frank's achievement in Safety, Security, Health, and Environment (SSHE) Excellence, Reliability, Adaptability, and Proactivity. Their customized solutions facilitated faster casing runs while ensuring personnel safety. The company achieved an impressive 99.8% uptime and saved five hours in operations thanks to effective planning and execution by its Tubular Running Services, Cementing, and Well Integrity teams.
Frank's International N.V. (NYSE: FI) announced its upcoming conference call to discuss second quarter 2021 results, scheduled for August 3, 2021, at 10:00 a.m. CT. The earnings release will precede the call, and participants can join by phone or via a live webcast on the company's website. Frank's International, founded in 1938, specializes in tubular running services and solutions for complex wells, employing approximately 2,400 staff across 40 countries. An audio replay of the call will be available for 90 days post-event.
Frank’s International N.V. (NYSE: FI) reported Q1 2021 results with revenue of $94.8 million, slightly down from $96.3 million in Q4 2020. The company recorded a net loss of $23.9 million influenced by acquisition costs and foreign currency losses. Adjusted EBITDA improved by 44.1% to $6.7 million, driven by increased customer activity, particularly in the Tubular Running Services segment. A three-year contract extension in the Gulf of Mexico and a merger with Expro Group are also notable developments. Q2 forecasts predict growth in tubular deliveries and drilling activities.
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