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Industrials - Specialty Business Services - NYSE - US
$ 116.0
-0.181 %
$ 29.5 B
Market Cap
21.89
P/E
1. INTRINSIC VALUE

Global Payments Inc. provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and on-line reporting services. This segment also provides an array of enterprise software solutions that streamline business operations of its customers in various vertical markets; and value-added services, such as point-of-sale solutions, and analytic and engagement tools, as well as payroll and human capital management services.[ Read More ]

The intrinsic value of one GPN stock under the base case scenario is HIDDEN Compared to the current market price of 116 USD, Global Payments Inc. is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart GPN

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FINANCIALS
9.65 B REVENUE
7.56%
1.72 B OPERATING INCOME
168.12%
1.03 B NET INCOME
617.89%
2.25 B OPERATING CASH FLOW
0.21%
-4.36 B INVESTING CASH FLOW
-545.58%
2.14 B FINANCING CASH FLOW
255.53%
7.59 B REVENUE
195.49%
1.5 B OPERATING INCOME
138.80%
334 M NET INCOME
-11.00%
1.73 B OPERATING CASH FLOW
134.24%
-149 M INVESTING CASH FLOW
72.72%
-779 M FINANCING CASH FLOW
-270.04%
Balance Sheet Decomposition Global Payments Inc.
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Current Assets 8.07 B
Cash & Short-Term Investments 2.09 B
Receivables 1.12 B
Other Current Assets 4.86 B
Non-Current Assets 42.5 B
Long-Term Investments 713 M
PP&E 2.19 B
Other Non-Current Assets 39.6 B
Current Liabilities 8.13 B
Accounts Payable 290 M
Short-Term Debt 1.68 B
Other Current Liabilities 6.15 B
Non-Current Liabilities 18.7 B
Long-Term Debt 15.7 B
Other Non-Current Liabilities 2.96 B
EFFICIENCY
Earnings Waterfall Global Payments Inc.
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Revenue 9.65 B
Cost Of Revenue 3.73 B
Gross Profit 5.93 B
Operating Expenses 4.21 B
Operating Income 1.72 B
Other Expenses 688 M
Net Income 1.03 B
RATIOS
61.39% GROSS MARGIN
61.39%
17.78% OPERATING MARGIN
17.78%
10.22% NET MARGIN
10.22%
4.29% ROE
4.29%
1.95% ROA
1.95%
3.50% ROIC
3.50%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Global Payments Inc.
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Net Income 1.03 B
Depreciation & Amortization 1.78 B
Capital Expenditures -658 M
Stock-Based Compensation 209 M
Change in Working Capital -663 M
Others 51.6 M
Free Cash Flow 1.59 B
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Global Payments Inc.
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Wall Street analysts predict an average 1-year price target for GPN of $145 , with forecasts ranging from a low of $100 to a high of $247 .
GPN Lowest Price Target Wall Street Target
100 USD -13.79%
GPN Average Price Target Wall Street Target
145 USD 25.07%
GPN Highest Price Target Wall Street Target
247 USD 112.93%
4. DIVIDEND ANALYSIS
0.24% DIVIDEND YIELD
0.25 USD DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership Global Payments Inc.
image
Sold
0-3 MONTHS
3.52 M USD 2
3-6 MONTHS
336 K USD 2
6-9 MONTHS
367 K USD 1
9-12 MONTHS
905 K USD 2
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
420 K USD 1
9-12 MONTHS
Date Value Insider Amount Avg Price
1 week ago
Nov 04, 2024
Sell 250 K USD
Carter Andrea M
Chief Human Resources Officer
- 2366
105.67 USD
2 weeks ago
Oct 31, 2024
Sell 3.27 M USD
Green David Lawrence
Chief Administrative Officer
- 31291
104.55 USD
3 months ago
Aug 08, 2024
Sell 166 K USD
SHEFFIELD DAVID M
EVP, Chief Accounting Officer
- 1651
100.73 USD
5 months ago
Jun 06, 2024
Sell 170 K USD
JOHNSTON SHANNON A
Senior EVP and CIO
- 1727
98.33 USD
6 months ago
May 09, 2024
Sell 367 K USD
Carter Andrea M
Senior Executive VP and CHRO
- 3300
111.34 USD
11 months ago
Dec 14, 2023
Sell 702 K USD
WOODS M TROY
Director
- 5247
133.77 USD
11 months ago
Dec 08, 2023
Bought 420 K USD
BALDWIN ROBERT H B JR
Director
+ 3500
120.06 USD
1 year ago
Nov 15, 2023
Sell 203 K USD
SHEFFIELD DAVID M
EVP, Chief Accounting Officer
- 1800
112.85 USD
1 year ago
Nov 02, 2023
Sell 2.02 M USD
Green David Lawrence
Chief Admin & Legal Officer
- 17920
112.53 USD
1 year ago
Sep 06, 2023
Sell 4.72 M USD
Whipple Joshua J
Senior EVP and CFO
- 37096
127.28 USD
1 year ago
Aug 17, 2023
Sell 1.81 M USD
Sacchi Guido Francesco
Senior EVP and CIO
- 14502
124.47 USD
1 year ago
Aug 02, 2023
Sell 241 K USD
SHEFFIELD DAVID M
EVP, Chief Accounting Officer
- 2016
119.47 USD
1 year ago
Feb 27, 2023
Sell 177 K USD
SHEFFIELD DAVID M
Chief Accounting Officer
- 1562
113.08 USD
1 year ago
Dec 12, 2022
Bought 335 K USD
BALDWIN ROBERT H B JR
Director
+ 3400
98.62 USD
2 years ago
Nov 09, 2022
Sell 469 K USD
BRUNO JOHN G
Director
- 4807
97.47 USD
2 years ago
Nov 04, 2022
Bought 500 K USD
WOODS M TROY
Director
+ 5247
95.26 USD
2 years ago
Aug 10, 2022
Sell 466 K USD
SHEFFIELD DAVID M
Chief Accounting Officer
- 3500
133.2 USD
2 years ago
Jun 03, 2022
Sell 2.11 M USD
Green David Lawrence
Senior EVP and General Counsel
- 16252
130.1 USD
2 years ago
Mar 15, 2022
Sell 64 K USD
JACOBS WILLIAM I
director:
- 500
127.99 USD
2 years ago
Feb 28, 2022
Sell 133 K USD
SHEFFIELD DAVID M
Chief Accounting Officer
- 1006
132.55 USD
2 years ago
Feb 15, 2022
Sell 72.9 K USD
JACOBS WILLIAM I
Director
- 500
145.83 USD
2 years ago
Jan 18, 2022
Sell 74.8 K USD
JACOBS WILLIAM I
Director
- 500
149.54 USD
2 years ago
Dec 15, 2021
Sell 64.6 K USD
JACOBS WILLIAM I
Director
- 500
129.28 USD
3 years ago
Nov 15, 2021
Sell 66.5 K USD
JACOBS WILLIAM I
Director
- 500
132.95 USD
3 years ago
Nov 05, 2021
Bought 138 K USD
CLONINGER KRISS III
Director
+ 1000
137.68 USD
3 years ago
Oct 15, 2021
Sell 78.2 K USD
JACOBS WILLIAM I
Director
- 500
156.44 USD
3 years ago
Sep 15, 2021
Sell 81.1 K USD
JACOBS WILLIAM I
Director
- 500
162.2 USD
3 years ago
Aug 16, 2021
Sell 85.2 K USD
JACOBS WILLIAM I
Director
- 500
170.43 USD
3 years ago
Aug 10, 2021
Bought 200 K USD
MCDANIEL CONNIE D
Director
+ 1150
173.48 USD
3 years ago
Aug 05, 2021
Bought 101 K USD
JOHNSON JOIA M
Director
+ 590
170.4 USD
3 years ago
Aug 05, 2021
Bought 500 K USD
SLOAN JEFFREY STEVEN
CEO
+ 2946
169.87 USD
3 years ago
Jul 15, 2021
Sell 96.2 K USD
JACOBS WILLIAM I
Director
- 500
192.3 USD
3 years ago
Jun 15, 2021
Sell 96.4 K USD
JACOBS WILLIAM I
Director
- 500
192.86 USD
3 years ago
May 21, 2021
Bought 98.4 K USD
JOHNSON JOIA M
Director
+ 500
196.9 USD
3 years ago
May 17, 2021
Sell 98.7 K USD
JACOBS WILLIAM I
Director
- 500
197.37 USD
3 years ago
Apr 15, 2021
Sell 108 K USD
JACOBS WILLIAM I
Director
- 500
215.21 USD
3 years ago
Mar 15, 2021
Sell 107 K USD
JACOBS WILLIAM I
Director
- 500
214.21 USD
3 years ago
Mar 02, 2021
Sell 2.44 M USD
Sacchi Guido Francesco
Senior EVP and CIO
- 12077
202.07 USD
3 years ago
Mar 01, 2021
Sell 142 K USD
SHEFFIELD DAVID M
Chief Accounting Officer
- 711
200.41 USD
3 years ago
Mar 02, 2021
Sell 5.74 M USD
Todd Paul M
Senior Executive VP and CFO
- 28341
202.44 USD
3 years ago
Feb 25, 2021
Sell 1.09 M USD
Todd Paul M
Senior Executive VP and CFO
- 5470
198.41 USD
3 years ago
Feb 25, 2021
Sell 1.12 M USD
Todd Paul M
Senior Executive VP and CFO
- 5614
199.65 USD
3 years ago
Feb 25, 2021
Sell 521 K USD
Todd Paul M
Senior Executive VP and CFO
- 2603
200.09 USD
3 years ago
Feb 25, 2021
Sell 1.13 M USD
Todd Paul M
Senior Executive VP and CFO
- 5673
198.44 USD
3 years ago
Feb 25, 2021
Sell 1.34 M USD
Todd Paul M
Senior Executive VP and CFO
- 6708
199.7 USD
3 years ago
Feb 25, 2021
Sell 261 K USD
Todd Paul M
Senior Executive VP and CFO
- 1305
200.1 USD
3 years ago
Feb 23, 2021
Sell 3.73 M USD
WOODS M TROY
Director
- 19209
194.28 USD
3 years ago
Feb 23, 2021
Sell 3.82 M USD
WOODS M TROY
Director
- 19513
195.59 USD
3 years ago
Feb 23, 2021
Sell 60.2 K USD
WOODS M TROY
Director
- 307
196 USD
3 years ago
Feb 23, 2021
Sell 3.77 M USD
WOODS M TROY
Director
- 19422
193.9 USD
3 years ago
Feb 23, 2021
Sell 3.34 M USD
WOODS M TROY
Director
- 17169
194.81 USD
3 years ago
Feb 23, 2021
Sell 20.9 K USD
WOODS M TROY
Director
- 107
195.57 USD
3 years ago
Feb 16, 2021
Sell 99 K USD
JACOBS WILLIAM I
Director
- 500
198.07 USD
3 years ago
Jan 15, 2021
Sell 96.5 K USD
JACOBS WILLIAM I
Director
- 500
192.96 USD
3 years ago
Dec 15, 2020
Sell 96.5 K USD
JACOBS WILLIAM I
Director
- 500
192.93 USD
4 years ago
Nov 16, 2020
Sell 95 K USD
JACOBS WILLIAM I
Director
- 500
190 USD
4 years ago
Nov 11, 2020
Sell 203 K USD
TURNER JOHN THOMPSON
Director
- 1064
190.53 USD
4 years ago
Nov 09, 2020
Sell 15.9 M USD
SLOAN JEFFREY STEVEN
CEO
- 81168
196.18 USD
4 years ago
Nov 09, 2020
Sell 6.7 M USD
SLOAN JEFFREY STEVEN
CEO
- 33894
197.55 USD
4 years ago
Nov 09, 2020
Sell 1.58 M USD
SLOAN JEFFREY STEVEN
CEO
- 7973
198.38 USD
4 years ago
Nov 10, 2020
Sell 3.45 M USD
Bready Cameron M
President and COO
- 17756
194.09 USD
4 years ago
Oct 15, 2020
Sell 87.6 K USD
JACOBS WILLIAM I
Director
- 500
175.16 USD
4 years ago
Sep 15, 2020
Sell 85.7 K USD
JACOBS WILLIAM I
Director
- 500
171.46 USD
4 years ago
Sep 04, 2020
Sell 1.26 M USD
JACOBS WILLIAM I
Director
- 7224
174.895 USD
4 years ago
Aug 27, 2020
Sell 286 K USD
MARSHALL RUTH ANN
Director
- 1624
176 USD
4 years ago
Jul 15, 2020
Sell 83.1 K USD
JACOBS WILLIAM I
Director
- 500
166.25 USD
4 years ago
Jun 12, 2020
Sell 11.4 K USD
BALDWIN ROBERT H B JR
Director
- 64
178.37 USD
4 years ago
May 19, 2020
Sell 69 K USD
TURNER JOHN THOMPSON
Director
- 379
181.93 USD
4 years ago
May 14, 2020
Sell 96.5 K USD
JACOBS WILLIAM I
Director
- 600
160.8 USD
4 years ago
May 08, 2020
Sell 282 K USD
MARSHALL RUTH ANN
Director
- 1600
176.05 USD
4 years ago
May 08, 2020
Sell 1.07 M USD
CLONINGER KRISS III
Director
- 6113
174.96 USD
4 years ago
May 08, 2020
Sell 1.53 M USD
Sacchi Guido Francesco
Senior EVP and CIO
- 8754
174.31 USD
4 years ago
May 08, 2020
Sell 3.8 M USD
Green David Lawrence
Senior EVP and General Counsel
- 21646
175.6 USD
4 years ago
Apr 14, 2020
Sell 88.7 K USD
JACOBS WILLIAM I
Director
- 600
147.82 USD
4 years ago
Mar 16, 2020
Sell 89.4 K USD
JACOBS WILLIAM I
Director
- 600
149 USD
4 years ago
Mar 09, 2020
Bought 99 K USD
JOHNSON JOIA M
Director
+ 600
165.07 USD
4 years ago
Feb 28, 2020
Sell 171 K USD
SHEFFIELD DAVID M
Chief Accounting Officer
- 967
176.75 USD
4 years ago
Mar 02, 2020
Sell 110 K USD
SHEFFIELD DAVID M
Chief Accounting Officer
- 586
187.47 USD
4 years ago
Feb 14, 2020
Sell 814 K USD
MARSHALL RUTH ANN
Director
- 4000
203.51 USD
4 years ago
Feb 14, 2020
Sell 122 K USD
JACOBS WILLIAM I
Director
- 600
203.51 USD
4 years ago
Feb 14, 2020
Sell 36.1 M USD
WOODS M TROY
Director
- 175852
205.29 USD
4 years ago
Jan 14, 2020
Sell 116 K USD
JACOBS WILLIAM I
Director
- 600
193.7 USD
4 years ago
Dec 16, 2019
Sell 108 K USD
JACOBS WILLIAM I
Director
- 600
179.7 USD
4 years ago
Dec 02, 2019
Bought 99.9 K USD
JOHNSON JOIA M
Director
+ 560
178.45 USD
5 years ago
Nov 14, 2019
Sell 104 K USD
JACOBS WILLIAM I
Director
- 600
173.37 USD
5 years ago
Nov 07, 2019
Sell 1.33 M USD
CLONINGER KRISS III
Director
- 7877
169.15 USD
5 years ago
Nov 05, 2019
Bought 97.4 K USD
JOHNSON JOIA M
Director
+ 575
169.35 USD
5 years ago
Oct 14, 2019
Sell 97.9 K USD
JACOBS WILLIAM I
Director
- 600
163.22 USD
5 years ago
Sep 16, 2019
Sell 116 K USD
SILBERSTEIN ALAN M
Director
- 700
166.27 USD
5 years ago
Sep 16, 2019
Sell 99.8 K USD
JACOBS WILLIAM I
Director
- 600
166.27 USD
5 years ago
Sep 09, 2019
Sell 1.92 M USD
JACOBS WILLIAM I
Director
- 10980
175.27 USD
5 years ago
Aug 19, 2019
Sell 580 K USD
Sacchi Guido Francesco
Senior EVP and CIO
- 3650
158.88 USD
5 years ago
Aug 19, 2019
Sell 1.09 M USD
Sacchi Guido Francesco
Senior EVP and CIO
- 6800
159.74 USD
5 years ago
Aug 19, 2019
Sell 957 K USD
MARSHALL RUTH ANN
Director
- 5980
160 USD
5 years ago
Aug 14, 2019
Sell 109 K USD
SILBERSTEIN ALAN M
Director
- 700
156.18 USD
5 years ago
Aug 14, 2019
Sell 93.7 K USD
JACOBS WILLIAM I
Director
- 600
156.18 USD
5 years ago
Aug 09, 2019
Sell 801 K USD
MARSHALL RUTH ANN
Director
- 5000
160.24 USD
5 years ago
Jul 15, 2019
Sell 116 K USD
SILBERSTEIN ALAN M
Director
- 700
165.05 USD
5 years ago
Jul 15, 2019
Sell 99 K USD
JACOBS WILLIAM I
Director
- 600
165.05 USD
5 years ago
Jun 14, 2019
Sell 94.8 K USD
JACOBS WILLIAM I
Director
- 600
157.95 USD
5 years ago
Jun 14, 2019
Sell 468 K USD
BALDWIN ROBERT H B JR
Director
- 2950
158.5 USD
5 years ago
Jun 14, 2019
Sell 207 K USD
BALDWIN ROBERT H B JR
Director
- 1300
159.08 USD
5 years ago
Jun 14, 2019
Sell 111 K USD
SILBERSTEIN ALAN M
Director
- 700
157.95 USD
5 years ago
May 14, 2019
Sell 86.5 K USD
JACOBS WILLIAM I
Director
- 600
144.21 USD
5 years ago
May 14, 2019
Sell 101 K USD
SILBERSTEIN ALAN M
Director
- 700
144.21 USD
7. News
Global Payments Slims Down With SMB Focus Global Payments targets the SMB market, enhancing growth through value-added services and international expansion, making it a compelling buy. GPN's strategic acquisitions and partnerships, such as EVO Payments, bolster its European and B2B offerings, increasing market share and service depth. Financial transparency improvements and divestitures of non-core units aim to streamline operations, enhancing shareholder value and operational efficiency. seekingalpha.com - 1 week ago
Unlocking Global Payments (GPN) International Revenues: Trends, Surprises, and Prospects Evaluate Global Payments' (GPN) reliance on international revenue to better understand the company's financial stability, growth prospects and potential stock price performance. zacks.com - 1 week ago
My Top 15 High-Growth Dividend Stocks For November 2024 The SPDR S&P 500 ETF Trust posted a loss of 0.89% in October, putting a pause on its strong run in 2024. The Top 15 dividend growth stocks for November 2024 offer an average dividend yield of 1.24% and appear to be about 23% undervalued based on dividend yield theory. Since its inception in September 2020, the watch list has achieved an 11.33% compound annual growth rate. seekingalpha.com - 1 week ago
Chimoney Launches a cash app for Canadians: Interledger-Powered Global Payments with Just an Email or Phone Number Empowering Canadians with Seamless Canadian and International Transfers, Multi-Currency Wallet, and Exclusive Rewards Empowering Canadians with Seamless Canadian and International Transfers, Multi-Currency Wallet, and Exclusive Rewards globenewswire.com - 2 weeks ago
Finance Leaders Gaining Substantial Benefits from AP Automation, But Opportunities Remain to Do More BOSTON, Oct. 31, 2024 (GLOBE NEWSWIRE) -- MineralTree , the business-to-business division of Global Payments (NYSE: GPN) offering accounts payable (AP) and payment automation solutions, today released its 9th annual State of AP Report. This year's findings provide a valuable benchmark for finance teams to compare their back office automation efforts and highlight areas where they can capitalize further to support their businesses. globenewswire.com - 2 weeks ago
Global Payments Q3 Earnings Miss Estimates on Higher Costs GPN's third-quarter results are impacted by rising costs. Rising traditional accounts, coupled with an expanding partner network, partially offset the negatives. zacks.com - 2 weeks ago
Global Payments Inc. (GPN) Q3 2024 Earnings Call Transcript Global Payments Inc. (NYSE:GPN ) Q3 2024 Earnings Conference Call October 30, 2024 8:00 AM ET Company Participants Winnie Smith - Senior Vice President, Investor Relations Cameron Bready - Chief Executive Officer Josh Whipple - Chief Financial Officer Conference Call Participants Will Nance - Goldman Sachs Bryan Bergin - TD Cowen Bryan Keane - Deutsche Bank Dan Perlin - RBC Capital Markets Darrin Peller - Wolfe Research Tien-tsin Huang - J.P. Morgan Trevor Williams - Jefferies Jason Kupferberg - Bank of America James Faucette - Morgan Stanley Operator Ladies and gentlemen, thank you for standing by and welcome to Global Payments' Third Quarter 2024 Earnings Conference Call. seekingalpha.com - 2 weeks ago
Global Payments (GPN) Reports Q3 Earnings: What Key Metrics Have to Say Although the revenue and EPS for Global Payments (GPN) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers. zacks.com - 2 weeks ago
Global Payments (GPN) Q3 Earnings and Revenues Miss Estimates Global Payments (GPN) came out with quarterly earnings of $3.08 per share, missing the Zacks Consensus Estimate of $3.11 per share. This compares to earnings of $2.75 per share a year ago. zacks.com - 2 weeks ago
Global Payments' third-quarter profit falls on higher expenses Global Payments' third-quarter profit fell nearly 13% on Wednesday, as higher costs offset gains from the fees it charges merchants for the company's transaction processing technology. reuters.com - 2 weeks ago
Francisco Partners to buy medical software firm AdvancedMD from Global Payments Technology-focused investment firm Francisco Partners is buying medical software company AdvancedMD from Global Payments , the companies said on Wednesday. reuters.com - 2 weeks ago
Global Payments Posts an Earnings Miss. The Stock Is Rising for Other Reasons. The payments software company posts a mediocre quarter, but other announcements attract investors' focus. barrons.com - 2 weeks ago
8. Profile Summary

Global Payments Inc. GPN

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COUNTRY US
INDUSTRY Specialty Business Services
MARKET CAP $ 29.5 B
Dividend Yield 0.24%
Description Global Payments Inc. provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and on-line reporting services. This segment also provides an array of enterprise software solutions that streamline business operations of its customers in various vertical markets; and value-added services, such as point-of-sale solutions, and analytic and engagement tools, as well as payroll and human capital management services. The Issuer Solutions segment offers solutions that enable financial institutions and retailers to manage their card portfolios through a platform; and commercial payments and ePayables solutions for businesses and governments. The Business and Consumer Solutions segment provides general-purpose reloadable prepaid debit and payroll cards, demand deposit accounts, and other financial service solutions to the underbanked and other consumers, and businesses under the Netspend brand. It markets its products and services through direct sales force, trade associations, agent and enterprise software providers, referral arrangements with value-added resellers, and independent sales organizations. The company was founded in 1967 and is headquartered in Atlanta, Georgia.
Contact 3550 Lenox Road, Atlanta, GA, 30326 https://www.globalpaymentsinc.com
IPO Date Jan. 16, 2001
Employees 27000
Officers Mr. Cameron M. Bready CPA Chief Executive Officer & Director Ms. Andréa Carter Chief Human Resources Officer Mr. Ryan Loy Chief Information Officer Phyllis McNeill Vice President of Corporate Communications Mr. Gaylon M. Jowers Jr. President of Issuer Solutions Mr. Joshua J. Whipple Chief Financial Officer Mr. David Lawrence Green Esq. Chief Administrative Officer Ms. Dara Steele-Belkin General Counsel and Corporate Secretary Mr. Robert M. Cortopassi President & Chief Operating Officer Mr. David M. Sheffield Executive Vice President & Chief Accounting Officer