S&P Global (NYSE:SPGI) Posts Earnings Results, Beats Expectations By $0.15 EPS

S&P Global (NYSE:SPGI) announced its quarterly earnings results on Tuesday. The business services provider reported $4.58 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.15, FiscalAI reports. S&P Global had a net margin of 31.37% and a return on equity of 17.74%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the business posted $4.73 earnings per share. 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 Performance

Shares of SPGI stock traded up $1.13 during mid-day trading on Tuesday, reaching $451.78. 622,809 shares of the company’s stock traded hands, compared to its average volume of 2,192,194. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $133.18 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.09. S&P Global has a 12 month low of $381.61 and a 12 month high of $552.25. The firm has a 50 day moving average price of $418.22 and a two-hundred day moving average price of $433.79.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.9%. S&P Global’s payout ratio is presently 23.69%.

Key Headlines Impacting S&P Global

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

• Positive Sentiment: Quarterly results exceeded expectations. S&P Global reported adjusted EPS of $4.58 versus the $4.43 consensus estimate, while revenue rose 6.8% year over year to $3.68 billion, ahead of the $3.64 billion forecast. Reported net income increased to $1.24 billion, or $4.25 per share, from $1.18 billion, or $3.86 per share, a year earlier. S&P Global Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management raised its 2026 outlook. The improved guidance signals confidence in demand across S&P Global’s credit ratings, indices, and data businesses and supports the market’s favorable reaction to the earnings release. S&P Global Raises Year Outlook as Profit Improves
• Positive Sentiment: New growth initiatives broaden the company’s opportunities. S&P Global completed its acquisition of OpenZeppelin, adding expertise in on-chain security and digital-asset risk assessment. Separately, its Dow Jones Indices business partnered with Kalshi to support licensed prediction-market contracts tied to S&P DJI benchmarks. S&P Global Completes Acquisition of OpenZeppelin
• Neutral Sentiment: S&P Global is reviewing Capital IQ and related data businesses. A strategic review could lead to restructuring, a sale, or other changes that unlock value, but the outcome and potential financial impact remain uncertain. S&P Global Reports Third Quarter Results and Announces Strategic Review
• Negative Sentiment: Valuation may limit further upside. Despite the strong results, commentary that the stock appears fully priced highlights investor concerns that much of the earnings and guidance improvement may already be reflected in SPGI’s valuation.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of S&P Global from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. JPMorgan Chase & Co. lowered their price target on S&P Global from $530.00 to $520.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Citigroup raised their price target on S&P Global from $454.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Stifel Nicolaus upped their price objective on S&P Global from $489.00 to $521.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, UBS Group lowered their target price on S&P Global from $550.00 to $525.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Eighteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $515.88.

S&P Global Company Profile

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.