S&P Global (NYSE:SPGI) Announces Earnings Results

S&P Global (NYSE:SPGI) released its earnings results on Tuesday. The business services provider reported $4.58 EPS for the quarter, beating the consensus estimate of $4.43 by $0.15, FiscalAI reports. S&P Global had a return on equity of 17.74% and a net margin of 31.37%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period last year, the firm earned $4.73 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis.

Here are the key takeaways from S&P Global’s conference call:

• Third-quarter results exceeded expectations, with revenue up 7%, adjusted operating profit up 8%, EPS up 9%, and 60 basis points of margin expansion. Management raised full-year organic constant-currency growth guidance to 7.5%-8.5%, margin expansion to 75-100 basis points, and adjusted EPS to $17.70-$17.95.
• Indices remained a major growth driver, with revenue up 20%, ETF assets under management reaching a record $6.5 trillion, and exchange-traded derivatives revenue rising 19%. The extended Cboe agreement is expected to provide a couple of percentage points of incremental index revenue growth in 2027.
• Demand for AI-ready data and tools is accelerating, contributing roughly 50 basis points of growth in both Energy and Market Intelligence. AI customers are expanding spending faster than other customers, while API call volume rose nearly 50% sequentially and more than 4,000% year over year.
• S&P Global initiated a strategic review of Capital IQ and related data businesses, including parts of Kensho Data and Platforms, with a potential separation under consideration. Management views the review as a way to unlock value and create a more focused company, but the perimeter, transaction structure, timing, and outcome remain uncertain, with a meaningful update unlikely before February.
• Ratings growth moderated to 2% as the company faces difficult comparisons, while management expects a slight fourth-quarter decline in transaction revenue. Energy also benefited from unusually strong one-time sales in the third quarter that may not recur, creating a potential headwind to near-term reported growth.

S&P Global Stock Up 1.8%

Shares of SPGI traded up $8.05 on Thursday, hitting $457.38. The company’s stock had a trading volume of 228,632 shares, compared to its average volume of 2,196,219. The firm’s fifty day moving average price is $420.26 and its 200-day moving average price is $432.44. S&P Global has a fifty-two week low of $381.61 and a fifty-two week high of $552.25. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $134.84 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 2.19 and a beta of 1.09.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be given a $0.97 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $3.88 annualized dividend and a dividend yield of 0.8%. S&P Global’s payout ratio is currently 23.69%.

Analyst Ratings Changes

A number of brokerages recently commented on SPGI. JPMorgan Chase & Co. lifted their price objective on S&P Global from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group lowered their price target on shares of S&P Global from $550.00 to $525.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Wells Fargo & Company boosted their price target on shares of S&P Global from $525.00 to $545.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup increased their price objective on shares of S&P Global from $500.00 to $520.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets reduced their price objective on shares of S&P Global from $505.00 to $500.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. Eighteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and an average target price of $522.24.

Trending Headlines about S&P Global

Here are the key news stories impacting S&P Global this week:

• Positive Sentiment: S&P Global exceeded third-quarter expectations, reporting adjusted earnings of $4.58 per share versus the $4.43 consensus and revenue of $3.68 billion versus estimates of $3.64 billion. Revenue increased 6.8% year over year, led by strong Indices and Market Intelligence performance. S&P Global Beats Q3 Earnings on Indices & Market Intelligence
• Positive Sentiment: Management raised its full-year 2026 earnings outlook, highlighted accelerating artificial-intelligence adoption and strong Indices growth, and remains on track for more than $7 billion in share repurchases. These factors support earnings momentum and shareholder returns. SPGI Q3 Earnings Call Highlights
• Positive Sentiment: JPMorgan, Wells Fargo and Morgan Stanley raised their SPGI price targets to $550, $545 and $515, respectively, while maintaining overweight ratings. The revisions signal increased confidence in the company’s outlook and imply meaningful upside from recently quoted levels.
• Positive Sentiment: New commercial initiatives could broaden S&P Global’s data reach: S&P Global Ratings is making vault-risk assessments available through Chainlink’s onchain infrastructure, while S&P Dow Jones Indices is launching co-branded commodity indexes with Quantix. Chainlink Collaboration
• Neutral Sentiment: The proposed Capital IQ and Kensho separation is still only under strategic review. It could unlock value by creating more focused businesses, but details on structure, timing and financial impact remain unavailable. S&P Global Explores Capital IQ Separation
• Negative Sentiment: Investors have expressed concern that a separation could create execution risk, costs and valuation uncertainty. Third-quarter EPS also fell from $4.73 a year earlier, despite the earnings beat, leaving the stock’s valuation sensitive to sustained growth.

About S&P Global

S&P Global (NYSE: SPGI) is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.