FIS reported third quarter 2026 revenue of $3.5 billion, up 27% on a GAAP basis and 3.7% on a pro forma basis. The financial technology company's adjusted earnings per share rose 6.6% to $1.61, while GAAP diluted earnings per share were $0.69. Free cash flow rose 8.0% to $862 million. Adjusted EBITDA grew 31% to about $1.5 billion, helped by the acquisition of the Total Issuing Solutions business. FIS sold a non-core prepaid business on October 20, 2026, for gross proceeds of over $100 million. It has paused share repurchases and tuck-in acquisitions to cut debt, which stood at $20.8 billion. For 2026, FIS expects adjusted revenue growth of 28% to 29% and free cash flow of $2.15 billion to $2.25 billion.

James Kehoe to step down as FIS CFO. Fintech company FIS (NYSE:FIS) today announced that James Kehoe will step down as Chief Financial Officer, effective November 5, 2026. Kehoe will serve as a non-executive senior advisor through March 2027 to support an orderly transition of responsibilities. FIS has appointed Alexandra Brooks, Executive Vice President and Chief Accounting Officer, as interim Chief Financial Officer, effective November 5, 2026. Brooks will continue to serve as Chief Accounting Officer and will work closely with Stephanie Ferris, FIS Chief Executive Officer and President. The company has initiated a search for a permanent Chief Financial Officer, which will consider both internal and external candidates. "On behalf of the Board of Directors and our entire team, I would like to thank James for his many contributions since he joined FIS in 2023," said Ferris. "He played an instrumental role during a transformational period for our company, including the Worldpay exit and the Issuer Solutions acquisition, while sharpening our focus on disciplined capital allocation and cash generation. We are grateful for his partnership and wish him the best in his future endeavors." Ferris continued, "Alex is a former public company CFO who knows our business, our controls and our finance team well, which makes her uniquely qualified to immediately step into the role of interim CFO. Her appointment provides continuity and stability while we conduct a comprehensive search for our next CFO. Our finance organization is well equipped to continue executing our strategic and financial priorities during this transition period." "I want to thank Stephanie, the Board and my colleagues across FIS for the opportunity to be part of this team over the past three years," said Kehoe. "FIS is well positioned for its next chapter, and I look forward to working with Alex and the finance team to ensure a seamless transition." Brooks joined FIS as Executive Vice President and Chief Accounting Officer in October 2024. She previously served as Executive Vice President and Chief Financial Officer of Hertz Global Holdings, Inc., where she was named CFO after serving as interim CFO, and earlier as Hertz's Chief Accounting Officer. Before Hertz, she held finance, accounting and audit leadership roles at Aptiv PLC, General Electric and General Motors, served as Chief Financial Officer of Champion Windows and Home Exteriors, and began her career at PricewaterhouseCoopers. Brooks is a Certified Public Accountant.

FIS, Toast CFOs exit. C-suite departures at FIS and Toast signal potential shifts in merchant pricing and product strategy as the payment giants restructure. Curated by Financing Your Way from original reporting by Payments Dive. Summary is AI-assisted and editorially reviewed - see its editorial standards. Major shifts are happening at the top of two massive payment platforms that many retailers rely on for daily operations. FIS and Toast both announced the departures of their Chief Financial Officers this week. While executive turnover is common, these moves come as both companies navigate significant transitions in how they serve merchants. FIS is currently spinning off its Worldpay merchant business to refocus on core banking technology. Meanwhile, Toast is under pressure to improve profitability after a rocky year of pricing changes. For business owners, these leadership exits signal a period of internal restructuring. When CFOs exit during major corporate shifts, it often precedes changes in product pricing, service levels, or investment in new features. Toast, specifically, is a dominant player in the restaurant vertical. Any instability or change in direction there can directly affect the software and integrated financing options available to food service operators. Similarly, the FIS/Worldpay split will determine how the company competes with modern fintechs in the coming years. You should watch for updates regarding your processing rates or the introduction of new embedded lending tools as these companies settle into their new leadership structures. Who else is covering this