Verisk Analytics Inc. (VRSK): 2Q First Take: Revenue and EPS outperformance with the full year guide reaffirmed

First-page research excerpt

Equity Research

29 July 2026 | 4:59AM PDT

Verisk Analytics Inc. (VRSK): 2Q First Take: Revenue and EPS

outperformance with the full year guide reaffirmed

We expect investors to have a positive reaction to Verisk’s 2Q 2026 earnings release,

with revenue, EBITDA and EPS outperforming consensus, and the full year guide

reaffirmed. Revenue increased 5.8% y/y on an organic constant currency basis,

accelerating from 4.7% growth in 1Q, with 5.6% growth in underwriting and 6.1%

growth in claims. Subscription revenue increased 8.0% y/y OCC, while transactional

revenue declined 4.2% due to lower weather-related volumes in property and

restoration solutions, tough comps in property underwriting and lower volumes in

the travel business related to Middle East travel disruption. EBITDA margins

contracted 10 bps y/y to 57.9% with operating leverage offset by investment spend.

The company reaffirmed its guide for 2026 revenue growth of 3.8-5.4% with EBITDA

margins of 56.0-56.5% vs 2025 margins of 56.2%. The company expects organic

growth to accelerate and return to levels consistent with its long-term target of 6-8%

in the second half of the year, driven by greater client wallet share penetration and

investments into innovation. On the earnings call, we expect investors to focus on

any changes to customer purchasing behaviors and sales cycles in an uncertain

macro environment, the sustainability of healthy subscription revenue growth, the

timing of when transactional revenue trends will normalize, performance in the

insurance end-market, and drivers of medium-term EBITDA margin expansion.

George K. Tong, CFA

+1(415)249-7421 |

Goldman Sachs & Co. LLC

Alex Lakritz

Goldman Sachs & Co. LLC

Sami Nasir, CFA

Goldman Sachs & Co. LLC

Exhibit 1: 2Q Actuals vs GS and FactSet Estimates

$ in millions, except per share data

2Q Actuals

GS Estimates FactSet Consensus

Revenue

y/y growth

y/y growth - Organic CC

$806.3

4.3%

5.8%

$803.5

4.0%

5.5%

$804.0

4.1%

5.1%

Adjusted EBITDA

Adjusted EBITDA Margins

$463.6

57.5%

$457.9

57.0%

$457.5

56.9%

EPS

$1.98

$1.93

Source: FactSet, Company data, Goldman Sachs Global Investment Research

Actuals vs GS and FactSet estimates.…