Temenos raises guidance after Q3 profit beat, CEO search continues

(Reuters) -Banking software company Temenos raised its 2025 outlook on Tuesday and reported third quarter earnings which were ahead of market expectations while stating its search for a new chief executive continues. In early September Temenos parted ways with CEO Jean-Pierre Brulard, who had been in the position for only 16 months. The company appointed finance chief Takis Spiliopoulos to the role on an interim basis. Temenos shares fell 15% following news of Brulard's departure. "We are making good progress and are actively considering a number of internal and external candidates," Chairman Thibault de Tersant said in a statement. Adjusted core earnings of $84.6 million in the third quarter came in above the $66.7 million analysts had predicted in a company-provided poll. TEMENOS SAYS SALES ENVIRONMENT REMAINS STABLE The software firm said in a statement that its sales environment remained stable this quarter with no disruptions from US bank credit concerns. Profit growth was also driven by cost cutting, it added. Temenos now expects full-year adjusted earnings before interest and taxes (EBIT) growth of at least 14% at constant currency from at least 9% before. The Swiss firm slightly raised guidance for its subscription and SaaS (Software as a Service) metric as well as its EPS, expecting 15-17% growth in 2025, from 10-12% before, and confirmed its 2028 targets. (Reporting by Marleen Kaesebier in Gdansk; editing by Matt Scuffham)

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