Fiserv Doubles Project Elevate Cost Savings Target to $1 Billion

Fiserv raised its Project Elevate cost-savings target to $1 billion from $500 million and reaffirmed its 2026 outlook, despite a lower third-quarter adjusted margin and flat organic revenue.

Project Elevate is the company's turnaround plan.

Adjusted operating margin fell to 31.2% from 37% a year earlier, while organic revenue was flat year over year. Fiserv reaffirmed its 2026 adjusted earnings guidance of $7.20 to $7.40 per share and its organic revenue outlook of -1% to 0%.