RELX Plc (RELX) Earnings
RELX Plc is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $0.89. RELX has beaten EPS estimates in 1 of its last 6 reported quarters (average surprise -3.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Feb 12, 2026 | $0.85 | $0.79 | -6.7% | $6.5B | -3.3% |
| Jul 24, 2025 | $0.56 | $0.72 | +28.1% | $6.5B | +0.1% |
| Feb 14, 2025 | $0.80 | $0.64 | -19.1% | $6.0B | -7.0% |
| Oct 24, 2024 | $0.77 | $0.66 | -14.5% | $5.9B | -4.0% |
| Apr 25, 2024 | $0.73 | $0.60 | -16.7% | $5.9B | -1.1% |
| Feb 16, 2023 | $0.67 | $0.56 | -16.3% | $5.6B | +4.0% |
| Feb 10, 2022 | — | $0.56 | — | $5.2B | — |
| Jul 26, 2018 | — | $0.45 | — | $4.8B | — |
| Dec 31, 2016 | — | $0.36 | — | $4.5B | — |
| Mar 8, 2016 | — | $0.38 | — | $4.4B | — |
| Mar 10, 2015 | — | $0.37 | — | $4.7B | — |
| Mar 11, 2014 | — | $0.51 | — | $4.9B | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2025 · February 12, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
### Management Statement and Operational Highlights - Strategic direction remains unchanged, with focus on shifting business mix towards higher growth analytics and decision tools powered by artificial intelligence. - Group financials: Underlying revenue growth 7%, underlying adjusted operating profit growth 9%, adjusted operating margin improved to 34.8%. - Cash flow: Strong, with GBP 1.5 billion share buyback completed, GBP 270 million in acquisitions, and dividend payments of GBP 1.2 billion. - Product-specific highlights: Risk's AI-enabled analytics driving machine-to-machine interactions; Insurance's innovation in contributory databases and market-specific solutions; STM's new product introductions and strong article growth; Legal's AI platform adoption and partnerships with workflow companies; Exhibitions' digital initiatives improving growth profile.
Guidance
### Guidance - Expect continued strong underlying revenue growth across segments, with underlying adjusted operating profit growth exceeding revenue growth. - Risk: Aim to sustain strong long-term growth; STM and Legal: Continue improving growth trajectories; Exhibitions: Sustain strong long-term growth. - Outlook for Exhibitions: Continued strong revenue growth and improved adjusted operating margin over prior full year.
Segment performance
### Segment Performance - **Risk**: Underlying revenue growth 8%, underlying adjusted operating profit growth 10%; ~40% of divisional revenue from financial crime compliance and digital fraud/identity solutions. - **Insurance**: ~40% of divisional revenue, growth driven by innovation and market-specific solutions. - **STM (Scientific, Technical, and Medical)**: Underlying revenue growth 5%, underlying adjusted operating profit growth 7%; Databases, Tools & Electronic Reference ~40% of revenue, Primary Research ~50%+ of revenue with over 20% growth in article submissions and 10% in published articles in 2025. - **Legal**: Underlying revenue growth 9%, underlying adjusted operating profit growth 12%; ~70% of revenue from Law Firms & Corporate Legal, driven by adoption of AI-enabled legal platform Lexis+ AI. - **Exhibitions**: Underlying revenue growth 8%, underlying adjusted operating profit growth 9%, margins above historical levels.
Risks & headwinds
### Risks - Competitive pressures in legal tech and other segments, including potential competition from large software companies in AI-enabled workflows. - Regulatory challenges related to data use, collection, and compliance across segments. - Potential impact of economic conditions on subscription-based revenue, particularly in subscription-heavy segments like STM and Legal.
Analyst Q&A
Q: Concerns about incremental competition in Legal segment around AI-enabled workflow tools.
A: Legal sees strong adoption with Lexis+ AI user base doubling in the past year, and partnerships with over 25 workflow and software-related companies, viewing them as complements rather than competitors.
Q: STM outlook and growth considerations.
A: STM has improving momentum with strong submissions growth and new product ramp, though growth is gradual in the subscription-heavy business.
Q: Protege AI workflows differentiation.
A: Protege offers content-enabled workflows with unique curated content and large user base, providing differentiated value through trusted content integration.
Q: Autonomous driving impact on Insurance.
A: Opportunities exist due to enhanced safety features and more data for risk analysis, with the value at stake increasing as the industry evolves.
Q: STM addressable market and pricing.
A: Over 10,000 institutions as potential customers for LeapSpace, with pricing based on institution scale and research intensity, gradual ramp expected.
Q: Operating leverage and margins with AI.
A: AI enables process efficiency, allowing cost growth to remain below revenue growth, with potential for wider gap between profit and revenue growth.
Q: Legal data sets and interoperability.
A: Unique comprehensive content and data sets provide a sustainable competitive moat, with limited licensing of content, focusing on content advantage.
Q: Risk growth dynamics.
A: 90% of Risk's revenue from machine-to-machine interactions, with hard-to-replicate data and algorithms, benefiting from AI tool evaluations for added customer value.
Q: STM corporate opportunity and Legal tech consolidation.
A: Corporate STM is a gradual growth opportunity, law firms will continue experimenting with tech, and Risk's new sales in Insurance come from innovative data use in new product lines