Fidelity National Information Services (FIS) Q3 2026 earnings summary

Executive summary

• Q3 GAAP revenue rose 27% to $3.454B; adjusted revenue growth was 29% and pro forma revenue growth was 3.7%, reflecting the Total Issuing Solutions acquisition.

• Adjusted EPS rose 6.6% to $1.61; adjusted EBITDA was $1.482B, up 31% reported and 5.2% pro forma, with margin expanding to 42.9%.

• Banking recurring growth was weaker than anticipated; FY 2026 guidance was reduced for conversion delays, bank consolidation and lower non-recurring revenue assumptions.

• YTD free cash flow was $1.861B, up 57%, excluding cash transaction taxes on business dispositions, primarily the Worldpay sale.

Financial highlights

• Q3 revenue was $3.454B, up 3.7% pro forma; adjusted EBITDA was $1.482B, up 5.2% pro forma, with a 42.9% margin, up 94 bps pro forma.

• Q3 adjusted EPS was $1.61, up 6.6%; free cash flow was $862M, up 8.0%, and operating cash flow was $976M.

• GAAP net earnings attributable to common stockholders were $356M, or $0.69 per diluted share; adjusted net earnings were $831M.

• 9M revenue was $10.126B, up 5.1% pro forma; adjusted EBITDA was $4.195B, up 7.2%, with a 41.4% margin, up 96 bps pro forma.

• 9M adjusted EPS was $4.44, up 8.8%; free cash flow was $1.861B, up 57%, and LTM free cash flow was ~$2.3B.

Outlook and guidance

• FY 2026 revenue outlook is $13.445B–$13.505B, with pro forma growth of 3.1%–3.6%; adjusted EBITDA is $5.565B–$5.605B and adjusted EPS is $5.82–$5.89.

• FY 2026 adjusted revenue growth is forecast at 28%–29%, adjusted EBITDA growth at 29%–30%, adjusted EPS growth at 1.2%–2.4%, and pro forma adjusted EBITDA growth at 2.9%–3.6%.

• FY 2026 adjusted EBITDA margin is guided to 41.4%–41.5%; free cash flow outlook remains $2.15B–$2.25B, or 33%–39% growth, excluding disposition transaction taxes.

• FY 2027 preliminary framework: pro forma revenue growth of (0.5)%–1.0%, margin expansion of (100) bps to flat, low- to high-single-digit adjusted EPS decline, and flat free cash flow.

• FY 2027 assumes steady recurring growth offset by non-recurring revenue declines, with those headwinds expected to largely dissipate in 2028; FY 2026 Banking reflects delayed conversions and consolidation, while Capital Markets reflects less license activity.