Shift4 Payments Inc. (NYSE:FOUR) stock plunged Thursday after the payments processor delivered mixed fourth-quarter results and issued a softer-than-expected 2026 outlook.

Quarterly gross revenue rose 34% year over year to $1.19 billion, narrowly missing the analyst consensus estimate of $1.20 billion.

The payment processing company’s adjusted EPS of $1.60 missed the analyst consensus estimate of $1.62. 

Payments-based revenue improved from $772 million a year ago to $919 million.

Subscription and other revenues were $145 million, up from $115 million a year ago.

Gross revenue minus network fees improved to $610 million versus $405 million a year ago, up 51% Y/Y.

End-to-end payment volume climbed 23% Y/Y to $59 billion.

Adjusted EBITDA improved 48% Y/Y to $304 million. The margin declined 100 bps to 50%.

2026 Outlook

Shift4 expects fiscal 2026 gross revenue, excluding network fees, to be $2.500 billion-$2.600 billion, below the analyst consensus estimate of $5.202 billion.

It expects a fiscal adjusted EPS of $5.50-$5.70, below the analyst consensus estimate of $6.47.

The company expects fiscal end-to-end payment volume of $240 billion-$260 billion.

It projects a fiscal-adjusted EBITDA of $1.165 billion-$1.215 billion.

First Quarter Outlook

Shift4 expects first-quarter gross revenue, excluding network fees, of close to $548 million, below the analyst consensus estimate of $1.134 billion.

It projects a quarterly adjusted EBITDA of close to $233 million.

FOUR Price Action: Shift4 Payments shares were down 12.26% at $50.33 at the time of publication on Thursday. The stock is trading at a new 52-week low, according to Benzinga Pro data.

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