Informa: 9M26 trading update cuts FY26 revenue guide on KSA - momentum elsewhere supports DD% earnings growth

Informa released its 9M26 trading update (to September 2026), cutting the FY26 underlying revenue growth guidance to 3%± from 6%±, reflecting the recent escalation in Saudi Arabia, which triggered force majeure and further rescheduling (the 2026 Riyadh Global Health Exhibition moves to a virtual format and Cityscape Global Riyadh moves to January 2027), assuming no further KSA contribution in 2026. For the nine months, group underlying revenue grew 6.5%, with B2B Live Events up 8.0% (strength in the Americas, Europe, ASEAN and IMEA ex-KSA), Academic Markets up 4.0%, and Informa TechTarget down 1.6% YoY as enterprise technology customers prioritise AI investment over product marketing. Management still expects double-digit underlying growth in adjusted diluted EPS (excluding in-year dilution from the Clarion-related share issuance). All Clarion regulatory filings have been submitted, with completion expected in the first two weeks of December. We expect a 2-3% trim to FY26 consensus adj