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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
London Stock Exchange Group
London Stock Exchange Group (LSEG) investor relations material
London Stock Exchange Group Q3 2026 TU & M&A Announcement earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 TU & M&A Announcement earnings summary22 Oct, 2026
Executive summary
Q3 total income excluding recoveries grew 8.8% organically at constant currency, led by Markets and FTSE Russell.
Subscription growth accelerated to 6.6%; AI adoption and proprietary data investment supported raised FY 2026 guidance.
Octus and Trumid transactions extend fixed-income capabilities across credit data, workflows and trading.
Financial highlights
Q3 total income excluding recoveries was £2,407m, up 8.5% reported and 8.8% organically at constant currency; YTD income was £7,206m, up 8.6% organically.
Q3 gross profit was £2,207m, up 9.9% organically; cost of sales grew 1.1%, or 12.0% excluding the revised SwapClear surplus-share agreement.
Subscription businesses grew 6.6% in Q3, versus 6.3% in H1 2026 and 6.0% in 2025.
FY 2026 equity free cash flow guidance increased to at least £2.8bn.
Outlook and guidance
FY 2026 organic, constant-currency income growth guidance raised to at least 8.0%, from 6.5–7.5% initially; subscription growth guidance is 6.5%.
FY 2026 EBITDA margin improvement guidance raised to 100–120 bps, including 30 bps from the SwapClear agreement change; capex is expected at ~9.5% of income excluding recoveries.
Underlying EBITDA margin expansion target remains ~150 bps cumulatively for 2027–2029 from the 2026 baseline; 2027 subscription growth guidance is ~7%.
Octus is expected to be neutral to adjusted EPS in the first full year after completion and accretive thereafter.
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Latest events from London Stock Exchange Group
- Record H1 results, 8.4% organic growth, raised guidance, and £2.6bn returned to shareholders.LSEG
H1 2026 - Record Q1 revenue and double-digit growth across divisions support raised full-year guidance.LSEGQ1 2026 TU
- FY25 growth and cash flow support FY26 targets and a £3bn buyback.LSEGH2 2025
- H1 2025 saw double-digit profit growth, margin expansion, and record shareholder returns.LSEGH1 2025
- FX and uncleared markets drive growth, supported by global expansion and innovation.LSEGStatus Update
- Q3 income rose 9.5% with strong Capital Markets, FTSE Russell, and LCH Group expansion.LSEGQ3 2024 TU
- Strong H1 2024 growth, margin expansion, and shareholder returns driven by innovation.LSEGH1 2024
- Q1 income rose 8.7% with strong divisional growth and reaffirmed guidance.LSEGQ1 2025 TU
- 8.4% income growth, margin expansion, and strong cash flow set up for further gains in 2025.LSEGH2 2024
Next London Stock Exchange Group earnings date
Q4 202625 Feb, 2027
London Stock Exchange Group
Next London Stock Exchange Group earnings date
Q4 202625 Feb, 2027
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Frequently asked questions
London Stock Exchange Group Plc is a global financial markets infrastructure and data provider. Its services include trading platforms, clearing, settlement, and financial information services across multiple asset classes. The company is headquartered in London, United Kingdom, and its shares are listed on the LSE.