S&P Global (NYSE: SPGI) completes Mobility spin-off with $53 million separation costs

What happened

S&P Global Inc. (NYSE: SPGI) said on July 1, 2026 it completed the separation of its S&P Global Mobility segment into Mobility Global Inc. The deal was structured as a spin-off, with S&P Global shareholders receiving one share of Mobility Global common stock for every share held on June 15, 2026. Mobility Global is now an independent public company on the New York Stock Exchange under the symbol MBGL.

The Form 8-K filed October 23, 2026 attached unaudited pro forma condensed consolidated financial statements for the separation. S&P Global will no longer consolidate Mobility Global into its financial results after the distribution.

Key numbers

Metric	Latest	Change	Source
Additional non-recurring costs to complete the Separation	$53 million		Notes to unaudited pro forma condensed consolidated financial statements
Revenue, six months ended June 30, 2026	$7.40 billion	from $8.32 billion, -11.1%	Unaudited pro forma condensed consolidated statement of income
Operating profit, six months ended June 30, 2026	$3.68 billion	from $3.81 billion, -3.4%	Unaudited pro forma condensed consolidated statement of income
Diluted EPS from continuing operations, six months ended June 30, 2026	$8.56	from $8.81, -2.8%	Unaudited pro forma condensed consolidated statement of income

Read more: S&P Global (SPGI) stock analysis and investment case

Why it matters

The pro forma statements strip Mobility from S&P Global's continuing business and give investors a cleaner starting point after the separation. For the six months ended June 30, 2026, revenue would have been $7.40 billion on a continuing-operations basis versus $8.32 billion historically. OptimistFi's calculation puts that gap at $921 million, or 11.1%, which shows how much of the reported base moved out with Mobility.

Operating profit would have been $3.68 billion, compared with $3.81 billion historically, and diluted EPS from continuing operations would have been $8.56 versus $8.81. For the year ended December 31, 2025, continuing-operations revenue would have been $13.59 billion and operating profit $6.14 billion, versus $15.34 billion and $6.48 billion historically.

The exhibit also reflects $53 million of additional non-recurring costs to complete the separation, mainly banker, legal and consulting fees. The filing says the pro forma figures are for illustration only and are not necessarily indicative of future results.

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What's next

The next test is S&P Global's next quarterly report with actual post-Separation continuing-operations results. That report will show whether the remaining business can hold the revenue and EPS base implied by the pro forma statements. If it does, the separation will look like an administrative reset. If it does not, the pro forma figures will remain only a benchmark.

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