IT FY2026 Q1 RAISED

Gartner, Inc. 실적 발표

May 05, 2026 · 08:00 ET David CohenGene Hall

Buzzberg 분석

Contract value growth expected to accelerate in 2026

Gartner's Q1 2026 results were better than expected, with management raising full-year EBITDA, EPS, and free cash flow guidance. The company is seeing expected impacts from the U.S. federal government business, but believes it has re-baselined that segment. While new business was strong in Jan/Feb, decisions slowed in March due to geopolitical turmoil; however, many of those delayed deals closed in April, suggesting the weakness was temporary. Raised full-year 2026 guidance: EBITDA to ≥$1.545B (from ≥$1.515B), EPS to ≥$13.25, record FCF to ≥$1.16B; revenue guide at or above $6.405B.

Buzzberg 분석 Contract value growth expected to accelerate in 2026 Gartner's Q1 2026 results were better than expected, with management raising full-year EBITDA, EPS, and free cash flow guidance. The company is seeing expected impacts from the U.S. federal government business, but believes it has re-baselined that segment. While new business was strong in Jan/Feb, decisions slowed in March due to geopolitical turmoil; however, many of those delayed deals closed in April, suggesting the weakness was temporary. Raised full-year 2026 guidance: EBITDA to ≥$1.545B (from ≥$1.515B), EPS to ≥$13.25, record FCF to ≥$1.16B; revenue guide at or above $6.405B. 전체 분석 보기분석 접기

Q1 CV growth was 1% YoY, accelerating from Q4; ex-fed CV growth was 3.5%, with a 250bp headwind from the U.S. government segment.
U.S. federal CV exited Q1 at ~$114M; management expects this to be flat in 2026, opening the door for an easier comp in H2.
Management expects total CV growth to accelerate through the remainder of 2026, driven by both recovery in the U.S. fed segment and a reacceleration of the ex-fed base.

CONFERENCES revenue 78 reported

CONSULTING revenue 119 reported

INSIGHTS revenue $1.5B reported

Revenue $1.511B -14% QoQ

이번 분기에 달라진 점

Guidance

Contract value growth expected to accelerate in 2026

Guidance · revenue to $6.405B

Demand

March slowdown in client decisions due to geopolitical environment

Management expressed confidence in long-term growth but acknowledged current geopolitical and macroeconomic challenges, balancing optimism with cautious commentary on the selling environment.

Demand

US federal government is a 250 basis point CV headwind

March slowdown in client decisions due to geopolitical environment. Management expressed confidence in long-term growth but acknowledged current geopolitical and macroeconomic challenges, balancing optimism with cautious commentary on the selling environment.

Guidance

Gartner commits to 12%+ adjusted EPS CAGR over three years

Guidance · revenue to $6.405B

AI, 자본지출 및 수요 분석

플랫폼 및 수익화

Management discussed AI as one of the most requested topics across all roles served, with Gartner positioning itself as the best source for AI guidance, including strategy, ROI, ethics, and governance. They also highlighted their use of AI internally and enhancements to Ask Gartner, such as new features and regular updates.

수요

수주 및 전환

자본지출

투자 및 생산능력

Management did not provide specific details on capital expenditure beyond general statements about investing in the business, such as hiring in key areas and driving operational efficiencies. No explicit capex guidance or infrastructure investment discussion was provided.

톤 · Measured

Management expressed confidence in long-term growth but acknowledged current geopolitical and macroeconomic challenges, balancing optimism with cautious commentary on the selling environment.

공급망 알파

The U.S. federal government business contract value (CV) is down to $114M and is a 250 basis point headwind to total CV growth, but management now expects it to be flat in 2026, implying the headwind will ease as tougher comps are lapped.

“We exited Q1 with about $114 million worth of U.S. federal CV... Our current assumptions are for it to be flat in 2026 and there's a 250 basis point headwind in the corridor alone.”

Craig Safian

Gartner is deliberately shifting its sales hiring mix towards new business developers (BDs) and away from account executives, aiming to capture more of the large addressable market of 140,000 enterprises, a move that signals a strategic bet on expansion over retention.

“We are hiring more incremental new business developers than AEs. It's not one or the other, but we definitely have a bias towards hiring incremental BDs right now as opposed to hiring incremental account managers going forward.”

Craig Safian

Client decision-making slowed in March due to geopolitical events (specifically impacting airlines, transportation, and other energy-intensive industries, with a concentration in the GCC), but many of those delayed deals closed in April, and management does not see a structural deterioration in demand.

“By and large, clients and prospects told us, we still want to buy from you, but we can't make a decision today... we're seeing many of those deals actually close, where clients delayed in March but actually then came through and closed in…”

Gene Hall

향후 가이던스

RaisedGuidance · revenue to $6.405B · was IN LINE last Q

향후 가이던스
지표	기간	범위	중간값	상태
EPS	FY2026	$13.25	$13.25	RAISED
Free cash flow	FY2026	$1.16B	$1.16B	MAINTAINED
Op margin	FY2026	24.1%	24.1%	RAISED
Revenue	FY2026	$6.405B	$6.405B	RAISED

기업 영향 분석

ANTHROPIC

비상장 기업

공급망

Gartner saw the need for immediate guidance to clients following a security event, illustrating its role in providing timely, forward-looking recommendations regarding third-party technology risks.

“A recent example includes recommendations for heads of software engineering in response to the dramatic change in the security landscape posed by Anthropix mythos.”

Gene Hall