$SPGI · S&P Global Inc.
S&P Global reported Q3 2026 results with revenue of $3.678B (+7% YoY), GAAP diluted EPS of $4.45 (+26%), and adjusted diluted EPS of $4.58 (+9%). The company raised full-year 2026 adjusted EPS guidance to $17.70–$17.95 and announced a strategic review of Capital IQ and associated data businesses, including a potential separation. Share repurchases totaled $2.6B in Q3, with over $4B year-to-date and an expectation of more than $7B for the full year.
- Q3 revenue of $3.678B, up 7% YoY, driven by Indices and Market Intelligence.
- GAAP diluted EPS from continuing operations rose 26% to $4.45; adjusted diluted EPS rose 9% to $4.58.
- 2026 adjusted diluted EPS guidance raised to $17.70–$17.95, above prior $17.50–$17.75 range.
- Company executed $2.6B in share repurchases in Q3 and expects to repurchase over $7B in total for 2026.
- Strategic review initiated for Capital IQ and associated data businesses, including potential separation.
Extended-hours trading shows SPGI at $464.20, up 3.01% vs the regular-session close of $450.65, indicating a positive initial reaction to the earnings beat and raised guidance. Markets are closed; no regular-session reaction has occurred yet.
A guidance raise, $2.6B quarterly buyback, and a potential divestiture of Capital IQ signal aggressive portfolio optimization at a $133B financial-data giant.
S&P Global's raised guidance and 800 bps GAAP operating margin expansion to 53.2% underscore the pricing power of financial data incumbents. The Capital IQ strategic review mirrors a broader trend of information-services firms pruning non-core data assets to sharpen focus.
Strategic review of Capital IQ may not result in any transaction; guidance assumes full Market Intelligence contribution. Forward-looking risks include debt/equity market volatility, geopolitical conditions, and regulatory changes affecting credit ratings demand.