Shift4 Payments' third quarter 2026 net revenue of $648M missed estimates as the company lowered full-year guidance

Shift4 Payments reported third quarter 2026 results that fell short of net revenue expectations while beating on the bottom line. Net revenue grew 10% year-over-year to $648 million, primarily driven by an 18% increase in payments-based revenue, though growth was dampened by travel-related disruptions affecting the Tax-Free Shopping segment and persistent pressure on same-store sales. Despite these headwinds, the company achieved record quarterly adjusted free cash flow.

Key Highlights

• Total payment volume reached $61 billion for the quarter, an 11% increase compared to the prior year period.
• Adjusted EBITDA grew 6% year-over-year to $310 million, though the company lowered its full-year 2026 Adjusted EBITDA guidance to a range of $1.11 billion to $1.13 billion.
• Adjusted Free Cash Flow increased significantly by 42% year-over-year to $200 million, representing a 65% conversion rate from Adjusted EBITDA.
• Management lowered the full-year 2026 Net Revenue (GRLNF) guidance midpoint to approximately $2.455 billion from the previous high-end estimate, citing continued macroeconomic challenges and travel disruptions.