Experian (EXPN) H1 2026 earnings summary

Executive summary

• Achieved strong H1 FY26 results with revenue, margin, and cash flow growth at the top end of guidance, driven by strategic execution, product innovation, and AI-driven productivity improvements across B2B and B2C.

• Organic revenue growth averaged 8% for H1, accelerating from 8% in Q1 to 9% in Q2, with all regions contributing and North America leading.

• Cloud transformation is on track, with over 85% completion in North America (excluding Health) and Brazil by FY26.

• AI and cloud initiatives are driving innovation, productivity, and new product development, expanding the addressable market.

• Continued investment in technology, acquisitions, and sustainability, including integration of ClearSale, illion, and KYC360.

Financial highlights

• Total revenue grew 13% at actual rates (12% at constant rates) to $4,058m for H1 FY26; organic revenue growth was 8%.

• Benchmark EBIT increased 14% to $1,149m, with margin up 30-50bps to 28.3%.

• Benchmark EPS up 12% to 85.0 US cents; statutory basic EPS up 36% to 81.7 US cents.

• Operating cash flow up 25% to $900m, with a 77% conversion rate.

• Interim dividend raised by 10% to 21.25 US cents per share.

Outlook and guidance

• FY26 guidance raised to the top end, with organic revenue growth of 8% and total revenue growth of 11%.

• Margin improvement expected at +30 to +50bps, with capex at 8-9% of revenue.

• Full-year cash flow conversion expected to exceed 90%; net interest expense for FY26 expected at ~$190m.