$SSNC earnings report

SS&C reported Q3 2026 GAAP revenue of $1,690.0 million, up 7.8%, and adjusted revenue of $1,691.1 million, also up 7.8%. The company reported Q3 adjusted organic revenue growth of 5.2 percent. Technology-enabled services revenue was $1,448.6 million versus $1,309.4 million in the prior-year quarter, while license, maintenance and related revenue was $241.4 million versus $258.6 million. The revenue mix therefore reflected growth in technology-enabled services alongside a lower reported license, maintenance and related revenue figure.

Profitability improved above the operating-income line. GAAP operating income rose to $409.3 million from $365.7 million, with operating income margin rising to 24.2% from 23.3%. Adjusted operating income attributable to SS&C common stockholders rose to $657.6 million from $602.5 million, and its margin increased to 38.9% from 38.4%. Adjusted consolidated EBITDA attributable to SS&C common stockholders reached a record $674.8 million, up 9.0%, and the associated margin was 39.9%, compared with 39.5%.

GAAP net income attributable to SS&C common stockholders declined to $198.9 million from $210.0 million, despite higher operating income. Q3 interest expense, net, was $(107.2) million, and equity in earnings of unconsolidated affiliates, net, was $(47.7) million. GAAP diluted earnings per share was unchanged at $0.83, while adjusted diluted earnings per share increased to $1.78 from $1.55. The non-GAAP adjusted EPS reconciliation uses an estimated effective tax rate of 22.5% for the three and nine months ended September 30, 2026.

Cash generation remained strong in the nine-month period. Net cash provided by operating activities was $1,216.3 million, up 10.4% from $1,101.3 million. The company returned $225.3 million to shareholders in Q3 through $154.8 million of share repurchases and $70.5 million of common stock dividends, and reported purchases of common stock for treasury of $(760.5) million and dividends paid of $(199.8) million for the nine months ended September 30, 2026. SS&C also reported paying down $130.0 million in debt.

Balance-sheet attention centers on the $2.0 billion of Senior Notes classified as current because of their September 30, 2027 stated maturity. The company stated it is actively addressing the maturity and believes refinancing is probable during the fourth quarter of 2026. As of September 30, 2026, SS&C had $525.4 million in cash and cash equivalents, $7,483.5 million in gross debt, a consolidated net leverage ratio of 2.63 times consolidated EBITDA, and a net secured leverage ratio of 1.59 times consolidated EBITDA.

For Q4 2026, SS&C guided adjusted revenue to $1,700 – $1,740 million, adjusted net income to $454 – $470 million, adjusted diluted earnings per share to $1.88 – $1.94, and interest expense to $103 – $105 million. FY 2026 guidance calls for adjusted revenue of $6,736 – $6,776 million, adjusted diluted earnings per share of $7.11 – $7.17, cash from operating activities of $1,717 – $1,817 million, and capital expenditures of 4.4% – 4.8% of revenue. The company did not provide reconciliations of guidance for adjusted revenues and adjusted net income to comparable GAAP measures, citing the unreasonable efforts exception.