EarningsQ2 2026 Earnings Report
MX:RELN Q2 2026 EPS Results
Actual EPS$15.71
Consensus EPS$15.41
Beat/MissBeat by +$0.30
One Year Ago EPS$14.54
MX:RELN Q2 2026 Revenue Results
Actual Revenue$111.53B
Expected Revenue$112.85B
Beat/MissMissed by -$1.32B
YoY Revenue Growth+2.74%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeBefore Open
Conference CallThursday, July 23, 2026
MX:RELN Upcoming Earnings
RELX plc's next earnings date is estimated for February 18, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:RELN Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominately positive performance: broad-based underlying revenue and profit growth across all four divisions, margin expansion, strong cash generation, an increased dividend and substantial share buybacks. Key growth drivers are the rollout and adoption of AI-enabled analytics and decision tools across Risk, STM and Legal, with early product launches (e.g., LeapSpace, Lexis+ with Protege) showing promising adoption metrics. Headwinds include event timing and Middle East uncertainty for Exhibitions, ongoing print decline, currency translation effects reducing sterling-reported growth, slightly higher leverage from buybacks, and external policy/legal uncertainties. Overall the positives (divisional momentum, margin improvement, cash strength and capital returns) materially outweigh the challenges noted.Company Guidance
Strong Group Financial Performance
Underlying revenue growth 7%; underlying adjusted operating profit growth 9%; adjusted earnings per share up 11% at constant currency (68.6p, +8% in sterling). Adjusted operating margin improved by 70 basis points to 35.5%.
Excellent cash generation and active capital deployment
Cash conversion 98%; EBITDA ~GBP 2.0bn; free cash flow >GBP 1.1bn after CapEx of GBP 292m (6% of revenue). Interim dividend increased 7% to 20.9p. Completed GBP 1.75bn of a GBP 2.25bn buyback program and spent GBP 103m on two acquisitions in H1.
Risk division: sustained growth driven by AI
Risk underlying revenue growth 8% and underlying adjusted operating profit growth 10%. Over 90% of Risk revenue is machine-to-machine; growth driven by AI-enabled analytics, financial crime compliance and fraud/identity solutions.
STM (Science, Technical & Medical): product-led momentum
STM underlying revenue growth 6% and adjusted operating profit growth 8%. Article submissions grew >20% in H1 while articles published grew 7% (selectivity increasing). New higher-value database tools and LeapSpace AI workspace seeing strong early adoption (active users nearly doubled in a recent 90-day period and usage per user rose materially).
Legal: step-up in growth with AI-enabled platform
Legal underlying revenue growth 10% and underlying adjusted operating profit growth 13%. Lexis+ with Protege (AI-enabled platform) accounts for ~90% of the value of new sales and ~75% of renewal value, driving stronger monetization and upsell opportunities.
Exhibitions: continued revenue growth and digital rollouts
Exhibitions delivered 6% underlying revenue growth and is progressing digital tools and portfolio expansion. Company expects full-year improvement in adjusted operating margin (subject to regional uncertainties).
Margin expansion through cost discipline and operational efficiency
Profit growth outpaced revenue in Risk, STM and Legal (profit growth 2–3 percentage points ahead of revenue in these areas). Management targets cost growth below revenue growth, aided by internal GenAI-driven efficiencies.
Prudent balance of organic investment and M&A
Primary focus remains organic product development accelerated by internal AI; selective M&A used to complement and accelerate organic growth (example: small strategic French acquisition).
MX:RELN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed