The FIS reset is priced in fast.

The FIS reset is priced in fast. What I'm watching now is who becomes permanent CFO, and whether the bank-side headwinds behind this cut stay contained to 2026.

• On November 4, $FIS cut FY2026 adjusted EPS guidance to $5.82–$5.89 from $6.15–$6.24, and revenue guidance to $13.445–$13.505 billion from $13.630–$13.695 billion.
• Management blamed client-led implementation delays and large-bank consolidations. Delays can slip back into later periods. Consolidation shrinks the client base, so that one worries me more going into 2027.
• The same day, FIS announced CFO James Kehoe would step down effective November 5. Alexandra Brooks is interim CFO, Kehoe stays on as a non-executive senior adviser through March 2027, and a permanent search has started.
• The stock closed November 4 at $29.85, down 23.44% from $38.99. Pre-market on November 5 it was at $29.92, up 0.54% from the last regular-session close of $29.76, so no bounce yet.

The Q3 print itself was fine: $3.454 billion in revenue and $356 million in net income. That puts the weight on the outlook and the finance seat. A strong outside CFO hire plus a clean read on 2027 would make this look like a reset. Another guidance trim before then and I'd treat $29 as a level that can still break. I could be wrong on the timing, but those are the two things I'd track.

Sources:
Simply Wall St: https://simplywall.st/stocks/us/diversified-financials/nyse-fis/fidelity-national-information-services/news/fidelity-national-information-services-fis-cut-its-2026-earn
Yahoo Finance: https://finance.yahoo.com/markets/stocks/articles/fidelity-national-information-services-fis-101123490.html

Not financial advice. For informational and educational purposes only.