FIS delays projects, lowers 2026 guidance and appoints an interim CFO
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AI-assisted source synthesis · not an independent investigation.
FIS previously lowered its 2026 growth expectations due to large customers postponing system conversions, the impact of bank mergers on the timing of revenue recognition, and weakening demand for traditional software licenses. The company lowered its revenue growth guidance for banking solutions from 5% to 5.5% to 3.5% to 4%, and its overall revenue growth expectation from 4.5% to 5% to 3.1% to 3.6%, and said that some projects had been postponed until the third quarter of 2027. The company had previously announced that CFO James Kehoe would leave on November 5, 2026, with Alexandra “Alex” Brooks serving as interim CFO. The latest report on November 5 stated that Brooks had assumed the interim role effective that day; FIS also announced that its adjusted net income for the third quarter increased 5.3% year over year to $831 million.
AI-written from reports · updated 2 hours ago
Timeline
Follow the reporting to see the different sides of the story.
- PYMNTSFIS lowers 2026 banking solutions growth guidance due to project delays
FIS lowered its 2026 banking solutions revenue growth forecast from 5-5.5% to 3.5-4%, and its company-wide forecast from 4.5-5% to 3.1-3.6%. Large customers delaying system conversions, the impact of bank mergers and acquisitions on revenue timing, and weakening demand for traditional software licenses all contributed to the adjustment; some projects have been delayed until Q3 2027. FIS also announced that CFO James Kehoe will leave on November 5, with Alexandra Brooks serving as interim CFO.
- Payments DiveFIS and Toast CFOs to depart, with succession plans announced
FIS and Toast separately disclosed that their CFOs will depart and announced succession plans alongside their third-quarter results. FIS's James Kehoe is leaving, and Alexandra “Alex” Brooks will serve as interim CFO starting Thursday; FIS's third-quarter adjusted net income grew 5.3% to $831 million.
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