BUZZ - FIS shares plunge due to falling profits and bleak growth outlook; announces CFO departure

November 4 - ** Fidelity National Information Services (FIS.N) shares dropped about 19% pre-market to $31.74

** The banking and payment processing company lowered its profit and organic growth expectations for this fiscal year and suspended share buybacks to reduce debt

** Expects adjusted earnings per share for fiscal year 2026 to be $5.82–$5.89, implying growth of 1.2%–2.4%, compared with previous projected growth of 7%–8.5%

** Revised fiscal year organic revenue growth expectations down from 4.5%–5.0% to 3.1%–3.6%

** Revised fiscal year organic adjusted EBITDA growth projections down from 5.9%–6.9% to 2.9%–3.6%

** Chief Financial Officer James Kehoe will step down on November 5

** Third-quarter adjusted earnings per share was $1.61, slightly above analysts' expectation of $1.60—data compiled by LSEG

** Third-quarter revenue was $3.45 billion, just above the expected $3.43 billion; organic revenue grew by 3.7%

** As of the close of the previous trading day, the stock had fallen 41% year-to-date

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