Verisk Q2 2026: OCC Growth Clears the Top Line, GAAP EPS Takes a Small Dip, Cash Flows Put on the Cape

Verisk Analytics, ticker VRSK, reported second-quarter 2026 results with revenue of $806 million, GAAP EPS of $1.75, and adjusted EPS of $1.98. The headline is a story of cash flow strength and non‑GAAP resilience versus GAAP softness.

Executive snapshot

Revenue: $806 million, up 4.3% on the top line; up 5.8% on an organic constant currency (OCC) basis.
Net income: $229 million, down 9.8%.
Adjusted EBITDA: $464 million, up 4.2%; up 7.4% OCC.
Diluted GAAP EPS: $1.75, down 3.3%.
Diluted adjusted EPS: $1.98, up 5.3%.
Net cash from operating activities: $366 million, up 49.7%.
Free cash flow: $298 million, up 57.9%.

Non-GAAP vs GAAP: two stories in the same quarter

Verisk continues to foreground non-GAAP metrics, noting that Adjusted EBITDA and OCC-based results paint a healthier operating picture than GAAP net income suggests. The GAAP line slipped while the core cash engine roared, a familiar tune for software‑adjacent, data‑driven franchises that rely on amortization, equity comp, and non-cash charges to tilt the GAAP balance sheet.

Metrics that move with the wind and the ledger

The quarterly performance underscores the value of cash flow as a more durable proxy for operating strength than headline earnings in a sector built on subscriptions, data licenses, and analytics services. With net cash from operations showing a near-50% jump and free cash flow up more than 57%, Verisk has a stronger engine to fund investments, capital returns, or strategic bets in data platforms and risk analytics.

Market implications and what to watch next

For investors focused on EPS and the EPS consensus, this release offers a mixed signal: GAAP earnings declined, while adjusted metrics and cash flow surged. Notably, the filing does not publish a revenue forecast or forward-looking guidance in the text, so the market will rely on the upcoming conference call for any 2H outlook. There is no explicit earnings surprise disclosed here, and no stated EPS consensus in the release, which means traders will be left to interpret management’s language about growth drivers and margin trajectories against street estimates.

The OCC phrasing suggests currency effects were a factor this quarter. If those effects persist or reverse, sector peers with similar international exposure may see material differences in reported revenue growth versus OCC metrics. In other words, Verisk’s quarter hints at a potential dial for peers: push operating leverage via non-GAAP narratives and rely on cash generation to fuel capital allocation choices.

Sector peers and the road ahead

Across the data analytics and risk-information space, Verisk’s combination of strong cash flow and selective GAAP headwinds could become a talking point for peers evaluating how to present performance. If Verisk uses its robust free cash flow to bolster returns—through buybacks, dividends, or investment in higher‑growth product lines—the sector might see a re-rating of cash-flow yield versus headline EPS figures. For investors, the key remains: track EPS quality, scrutinize any forthcoming revenue forecast revisions, and watch whether management frames the path to sustained cash generation as a competitive moat or a temporary advantage.

Bottom line

Verisk’s Q2 2026 numbers present a bifurcated narrative: revenue and cash flow strength on one side, and a modest dip in GAAP earnings on the other. The durable takeaways are the outsized improvement in operating cash flow and the resilience of adjusted metrics, which could support strategic investments or capital returns. For the broader sector, the quarter reinforces the value of non-GAAP storytelling paired with cash-generation discipline as a recipe for sustaining growth in a data-driven economy.