FIS tumbles on lower profit and growth outlook; announces CFO exit

Fidelity National Information Services

Wed 13:08

** Fidelity National Information Services FIS.N shares down ~19% at $31.74 premarket
** Banking and payments processor cuts FY profit and pro forma growth forecasts, as it pauses buybacks to reduce debt
** Sees FY2026 adjusted EPS of $5.82-$5.89, implying 1.2%-2.4% growth, vs prior forecast of 7%-8.5% growth
** Cuts FY pro forma revenue growth forecast to 3.1%-3.6% from 4.5%-5.0%
** Lowers FY pro forma adjusted EBITDA growth forecast to 2.9%-3.6% from 5.9%-6.9%
** CFO James Kehoe to step down effective Nov 5  
** Q3 adj EPS of $1.61 slightly beats analysts' estimates of $1.60 - data compiled by LSEG  
** Q3 revenue of $3.45 bln slightly above est of $3.43 bln; pro forma revenue rises 3.7%
** As of last close, stock down 41% YTD  

(Reporting by Miraanta Lowrance in Bengaluru)
((miraanta.lowrance@thomsonreuters.com))