S&P Global Inc.: Beat — EPS $4.58, Revenue $3.68B
Earnings BeatQ3 2026 · Pre-market
Did S&P Global Inc. (SPGI) beat earnings today?
Yes, S&P Global Inc. (SPGI) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+3.62% surprise
$4.58Actual
Expected: $4.42
vs. year ago +9.0%
Total Revenue+1.04% surprise
$3.68BActual
Expected: $3.64B
vs. year ago +7.0%
Released Oct 27 · 7:16 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $3.68B | $3.44B | +7.0% |
| Revenue detail — reported lines | |||
| └─Ratings | $1.27B | $1.24B | +2.0% |
| └─Indices | $554.00M | $462.00M | +20.0% |
| └─Energy | $645.00M | $609.00M | +6.0% |
| └─Market Intelligence | $1.26B | $1.18B | +7.0% |
| └─Intersegment Elimination | $(55)M | $(51)M | -8.0% |
| Net Income | $1.30B | $1.08B | +20.0% |
| GAAP Basic EPS | $4.45 | $3.54 | +26.0% |
| GAAP Diluted EPS | $4.45 | $3.54 | +26.0% |
| Adj. Diluted EPS | $4.58 | $4.20 | +9.0% |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY26 Outlook |
|---|---|---|
| Revenue growth | — | 7.4%-8.4% (prev. 5.9%-7.9%) |
| Organic, Constant Currency Revenue growth | — | 7.5%-8.5% (prev. 6.0%-8.0%) |
| GAAP Corporate Unallocated Expense | — | $185-$195M |
| Adjusted Corporate Unallocated Expense | — | $160-$170M |
| Deal-related Amortization | — | ~$800M |
| GAAP Operating Profit Margin expansion | — | 310-335 bps (prev. 335-360 bps) |
| Adjusted Operating Profit Margin expansion | — | 75-100 bps (prev. 35-60 bps) |
| Operating Profit Margin expansion, excluding OSTTRA | — | 125-150 bps |
| GAAP Interest Expense, net | — | $380-$390M |
| Adjusted Interest Expense, net | — | $405-$415M |
| GAAP Diluted EPS | — | $16.25-$16.50 (prev. $16.35-$16.60) |
| Adjusted Diluted EPS | — | $17.70-$17.95 (prev. $17.50-$17.75) |
| Capital Expenditures | — | $155-$165M |
Business Highlights
- ➤Initiated strategic review of Capital IQ and associated data businesses.
- ➤Expects to retain RatingsDirect, RatingsXpress, and Enterprise Solutions.
- ➤Completed Mobility spin-off, creating independent public company Mobility Global.
- ➤Reclassified Mobility as discontinued operations effective third-quarter financial statements.
- ➤Executed $2.6B in share repurchases during the third quarter.
- ➤Repurchased more than $4B of shares year-to-date.
- ➤Board authorized a quarterly cash dividend of $0.97 per share.
- ➤Cited increasing demand for benchmarks and proprietary intellectual property.
- ➤Subscription-product revenue growth reflected customer demand for subscription products.
Management Commentary
Martina Cheung, President and CEO
“S&P Global delivered a very strong quarter. Increasing demand for our benchmarks and unique intellectual property demonstrates our leadership in credit, equity, and commodities markets. Our focus on new high-growth adjacencies and our innovation are resonating deeply with customers around the world. The businesses that are part of the strategic review are strong and have significant opportunities ahead of them as technology changes how customers access, analyze, and use information. This reflects our long-standing commitment to be good stewards of our portfolio, while prioritizing our investments where we’re strongest.”