Global Business Travel

Q2 FY2026 EarningsQ2 FY2026 results significantly beat consensus on the top line, with revenue reaching $870M vs. $808M expected, driven by acquisition impacts and a 45% surge in transaction growth. Normalized EPS of $0.03 missed the consensus of $0.12 due to heavy restructuring costs ($41M) and integration expenses related to the CWT merger. While GAAP gross margin of 57% was below the 61% expectation, Adjusted EBITDA grew 34% YoY to $178M, and the company confirmed shareholder approval for its upcoming merger with Long Lake Management.