FIS reported a sharp jump in first-quarter 2026 profit and cash generation, with revenue rising 30% from a year earlier to $3.295 billion and adjusted revenue up 31% to $3.3 billion.
Adjusted diluted earnings per share increased 12% to $1.36 from $1.21. Adjusted net earnings rose 10% to $705 million from $643 million.
Adjusted EBITDA climbed 36% to $1.304 billion from $958 million, while adjusted EBITDA margin widened to 39.6% from 37.8%, a gain of 176 basis points.
On a pro forma basis, revenue increased 6.5% to $3.197 billion from $2.420 billion, including recurring revenue growth of 4.8%. Pro forma adjusted EBITDA rose 9.4%, and pro forma adjusted EBITDA margin improved to 39.6% from 38.7%, up 87 basis points.
By segment, banking solutions revenue increased 45% to $2.374 billion, while capital market solutions revenue rose 5% to $823 million. Banking solutions adjusted EBITDA jumped 56% to $1.0 billion, with margin expanding 299 basis points to 43.7%. Capital market solutions adjusted EBITDA increased 8% to $424 million, and margin improved 162 basis points to 51.6%. Corporate and other revenue fell 12% to $98 million.
Cash generation strengthened as net cash provided by operating activities rose to $713 million from $548 million, and free cash flow more than doubled to $474 million from $224 million, up 111%.
FIS returned $262 million to shareholders in the quarter, including $30 million in share repurchases and $232 million in dividends. Debt outstanding at March 31 totaled $21.1 billion.
For 2026, FIS reiterated its outlook for adjusted revenue growth of 30% to 31%, adjusted EBITDA growth of 34% to 35%, adjusted EPS growth of 8% to 10%, and free cash flow of $2.05 billion to $2.15 billion, up 27% to 33%. On a pro forma basis, it reaffirmed revenue growth of 5.1% to 5.7% and adjusted EBITDA growth of 7.2% to 8.4%. Today the company's shares have moved -6.14% to a price of $44.35. For more information, read the company's full 8-K submission here.
