Key Highlights

  • Adjusted Revenue rose 7.8% to USD 1.691 billion; organic growth was 5.2%.
  • Adjusted EBITDA reached a record USD 674.8 million, a Margin of 39.9%.
  • Adjusted Diluted Earnings per Share rose 14.8% to USD 1.78.
  • Net Leverage fell to 2.63 times after USD 130.0 million of Debt repayment.

Quarter Results

SS&C Technologies (NASDAQ:SSNC) reported third-quarter 2026 results on Thursday. GAAP revenue was USD 1,690.0 million, up 7.8% from USD 1,568.0 million, and adjusted revenue was USD 1,691.1 million. GAAP Operating Income rose 11.9% to USD 409.3 million, a margin of 24.2%. GAAP Net Income fell 5.3% to USD 198.9 million, and diluted earnings per share were USD 0.83, unchanged from a year earlier, with higher interest and tax expense cited for the net income decline.

Adjusted operating income rose 9.1% to USD 657.6 million at a margin of 38.9%. Adjusted consolidated EBITDA was a record USD 674.8 million, up 9.0%, at a margin of 39.9%. Over nine months, GAAP revenue was USD 5.03 billion, up 9.0%, and adjusted diluted earnings were USD 5.23 per share, up 15.7%.

Where the Revenue Came From

Adjusted revenue from technology-enabled services was USD 1.449 billion against USD 1.310 billion a year earlier, a gain the company tied to outsourcing demand. License, maintenance and related revenue was USD 241.3 million against USD 258.6 million, which management attributed to renewal timing. Acquisitions contributed USD 39 million of revenue.

Intelligent Automation revenue declined 4.5% organically, which management linked to a lag in product development and a transition to AI-enhanced offerings. President Rahul Kanwar said the Black Diamond Wealth platform is growing at a double-digit rate. CEO Bill Stone said more than 900 agentic workflows, 200 AI agents and over 60 digital workers have been built in the company's internal development environment. Core expense growth was 4.3%, or USD 42 million.

Cash and Capital Returns

Operating cash flow was USD 1,216.3 million over nine months, up 10.4%. In the quarter, SS&C repurchased 1.9 million shares for USD 154.8 million and paid USD 70.5 million in dividends. The diluted share count fell nearly 5% to 241 million. In August the company raised its annual Dividend 11.1% to USD 1.20 per share.

Net debt was USD 7 billion, made up of USD 7.5 billion of gross debt less USD 525.4 million of cash. Interest expense was USD 107 million. The chief financial officer said the company is refinancing USD 2 billion of notes due next year.

Guidance

For the fourth quarter, the company guides to revenue of USD 1.700 billion to USD 1.740 billion, with adjusted diluted earnings of USD 1.88 to USD 1.94 per share. Full-year revenue is guided at USD 6.736 billion to USD 6.776 billion, with 5.5% organic growth at the midpoint, and adjusted diluted earnings of USD 7.11 to USD 7.17, up 16.3% at the midpoint. Capital expenditures are guided at 4.4% to 4.8% of revenue.

Metrics to Track

Adjusted earnings growth of 14.8% compares with revenue growth of 7.8% and organic growth of 5.2%. Adjusted Operating Margin widened 50 basis points, the diluted share count fell nearly 5%, and core expenses grew 4.3%. GAAP net income moved the other way, down 5.3%, on higher interest and tax expense. The fourth-quarter guide implies organic growth of about 4% at the midpoint. Reference points are organic growth against that figure, Intelligent Automation, the refinancing of the notes due next year, leverage, and Acquisition activity.