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

S&P Global (NYSE:SPGI) issued its quarterly earnings data on Tuesday. The business services provider reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.15, FiscalAI reports. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.64 billion. S&P Global had a net margin of 31.37% and a return on equity of 17.74%. S&P Global’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $4.73 earnings per share.

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 0.6%

SPGI stock traded up $2.65 on Tuesday, hitting $453.30. 450,025 shares of the company’s stock were exchanged, compared to its average volume of 2,190,433. 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. 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 stock has a market cap of $133.63 billion, a P/E ratio of 27.72, a price-to-earnings-growth 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. Stockholders of record on Wednesday, November 25th will be given a $0.97 dividend. 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 dividend payout ratio (DPR) is presently 23.69%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPGI. Mizuho cut their price target on S&P Global from $554.00 to $531.00 and set an “outperform” rating on the stock in a report on Monday, October 5th. Citigroup upped their price objective 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $490.00 price objective on shares of S&P Global in a research report on Friday, October 16th. Wall Street Zen upgraded S&P Global to a “hold” rating in a research note on Saturday, September 5th. Finally, Stifel Nicolaus boosted their target price on shares of S&P Global from $489.00 to $521.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Eighteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and an average price target of $515.88.

Key Stories 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.

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.