Total System Services, Inc. (NYSE:TSS) Q1 2019 Earnings Conference Call Transcript
Apr 23, 2019 • 05:00 pm ET
Good afternoon and welcome to the TSYS 2019 First Quarter Earnings Release and Conference Call. All participants will be in listen-only mode. (Operator instructions) After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.
I would now like to turn the conference over to Shawn Roberts, Vice President, Investor Relations. Please go ahead.
Thank you, Gary, and welcome everyone. We'll will begin this evening's call with opening comments by TSYS' Chairman, President and CEO, Troy Woods, followed by TSYS' CFO, Paul Todd reviewing the first quarter 2019 highlights and consolidated financials. Troy and Paul will be referencing a slide presentation during their prepared remarks. A copy of the slide presentation, as well as our earnings release and supplemental schedules are available on our website at investors.tsys.com.
After the prepared remarks, we'll open the call up for Q&A. I would like to remind everyone that you'll be able to ask two questions before being returned to the queue. I'll now call your attention to the fact that we'll be making forward-looking statements about the future operating results of TSYS. These forward-looking statements involve risks and uncertainties. Factors that could cause TSYS' actual results to differ materially from the forward-looking statements are set forth in TSYS' reports filed with the SEC, including its 2018 Annual Report on Form 10-K.
We will also discuss items that do not conform to GAAP. We reconcile those measures to GAAP measures in the appendix of the slide presentation and in the supplemental schedules to the press release. At this point, I will turn the call over to Troy Woods.
Thank you, Shawn. Good evening, and welcome to our first quarter earnings call. Overall, we were very pleased with our results for the first quarter as we continue our focus on executing our business strategy during 2019 and beyond. During the quarter, we achieved a number of significant strategic wins with new customer signings, extensions and renewals, new and expanded partnerships, and continued our product rollouts, all while expanding our margins in all three segments.
Some of the highlights for the first quarter include net revenue up 4.8%, adjusted EBITDA increased 8%, adjusted diluted earnings per share increased 5.8% and our consolidated adjusted EBITDA margin expanded 108 basis points. I want to congratulate and thank all of our team members for their commitment and focus, and for producing these first quarter results.
During the quarter, TSYS was recognized and honored by several organizations that I would like to highlight before I move into the specific results for each segment.
For the third year in a row Forbes has (inaudible) to its list of America's Best Employers, a recognition that is due in part to our strong people centered and performance-driven culture. PaymentsSource recently named Theresa Gongora, Senior Vice President of Finance for our Merchant segment, one of the Most Influential Women in Payments. And Sanders Griffith, our Senior Executive Vice President, General Counsel and Secretary has been honored by the