Start Updating earnings guidance

Updating earnings guidance

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Financial institution loyalty programs continue to ramp and Achievers growth, as mentioned earlier, continues.

We're pleased to announce we signed and launched General Motors as a new client on the Achievers platform and have already onboarded approximately 80,000 of their corporate employees with early signs of success.

Describes the membership provisions of the DCP, such as contribution rates, required forms, updating member data, investment choices and refund options; as well as guidance on Social Security and Medicare coverage.

Grass Roots integration with Blackhawk Europe remains on track, including Grass Roots organic AOR growth, which jumped to 29% due to strong performance across all the regions, including a $2 million of breakage revenue gains from card portfolio migrations.

Finally, we remain committed to continue to focus on optimal capital allocation to maximize return on our investments and shareholder value. Before we review the business results by segment, I wanted to touch on our announcement included in our earnings release to sell Cardpool, the gift card exchange business. retail, adjusted operating revenues, excluding Cardpool, grew 9%.

We indicated earlier in the year that we would explore alternatives, and while we believe there's a good opportunity in the large secondary gift card market, we've decided this lower-margin business is not a long-term fit for us. This slide recaps the carry value of the asset note that we are now excluding Cardpool as well as the M&E business from our guidance. Digital retail revenues exceeded our expectations for the quarter, while physical retail revenues fell short.

Achievers strong performance continues, and international delivered strong organic growth across all regions as well as B2B business growth driven by the Grass Roots acquisition.