Morningstar reported second quarter 2026 revenue of $663.2 million, an increase of 9.6% year-over-year, and diluted earnings per share of $2.83, an increase of 35.4%. Revenue beat analyst expectations while EPS met consensus estimates.
Key Highlights
- The Morningstar Credit segment was the primary growth driver, with revenue increasing 23.4% to $104.9 million on robust issuance activity across geographies.
- Overall organic revenue grew 6.8%; excluding the impact from sunsetting certain products, organic growth would have been 8.2%.
- Profitability improved significantly, as adjusted operating margin expanded to 26.5% from 23.7% in the prior-year period.
- Free cash flow nearly doubled, increasing 96.3% to $122.5 million for the quarter, reflecting higher cash earnings and lower capital expenditures.