U.S. Business and Information Services: 1Q26 earnings recap and what you may have missed on the tape

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U.S. Business and Information Services: 1Q26 earnings recap and what you may have missed on the tape

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U.S. Business and Information Services

1Q26 earnings recap and what you may

have missed on the tape

Price Objective Change

Solid 1Q results but valuation remains under pressure 18 May 2026

In this note we recap key takeaways from 1Q26 earnings for Business & Information Equity

services, as well as highlight stocks in the group where we believe key inflections/ United States

developments from earnings may have been missed by the market. Overall, 1Q26 was a Business & Information Services

solid quarter for the group with median revenue/adj. EPS +1.8/6.6% above Street ests Curtis Nagle, CFA

and ~50% of companies under coverage raised revenue and earnings guidance for the Research Analyst

year. On average, shares increased 1% on the day following earnings. However, through BofAS+1 646 855 2939

May 15th, on average shares are down 4% since 1Q which likely reflects continued c.nagle@bofa.com

concerns over AI disintermediation risk for Info Services stocks as well as increasing risk Wahid Amin

Research Analyst

to the macro and higher rates due to a prolonged Iran conflict. See ex. 1 for a full BofAS

summary of 1Q results vs. consensus, changes to guidance and share performance post wahid.amin@bofa.com

earnings prints. We reduce PO’s on several Info Services stocks including TRI, CSGP, Ryan Rivera

VRSK reflecting lower sector valuations as well as FICO, EFX and TRU on increased risk BofAS

to mortgage volumes from higher rates. See page 5 for detail. We raise our ARMK PO to ryan.rivera4@bofa.com

$59 (from $54) on continued data center upside potential. See page 2.

SPGI: Updates on AI monetization could serve as a catalyst