$SPGI · S&P Global Inc.
S&P Global filed unaudited pro forma condensed consolidated financial statements reflecting the July 1, 2026 spin-off of its Mobility segment into Mobility Global Inc. (NYSE: MBGL). The pro forma statements reclassify Mobility as discontinued operations for all periods from January 1, 2023 onward. Continuing operations pro forma revenue was $7.397B for H1 2026 and $13.589B for FY2025, with diluted EPS of $8.56 and $13.74 respectively.
- Mobility spin-off completed July 1, 2026; shareholders received one MBGL share per SPGI share held as of June 15, 2026 record date.
- Pro forma continuing ops revenue: $7.397B (H1 2026), $13.589B (FY2025), $12.599B (FY2024), $11.013B (FY2023).
- Pro forma continuing ops diluted EPS: $8.56 (H1 2026), $13.74 (FY2025), $11.44 (FY2024), $7.43 (FY2023).
- Mobility contributed $921M revenue and $84M net income in H1 2026; $1.747B revenue and $305M net income in FY2025.
- Pro forma balance sheet shows $49.88B total assets and $21.74B total equity post-separation, with $27.49B goodwill remaining.
Markets closed — no regular-session reaction yet. Extended-hours last trade at $449.10, down 0.88% from the $453.10 regular close, suggesting mild initial pressure on the post-spin entity.
The pro forma filing gives investors the first clean look at S&P Global's financial profile without Mobility, enabling valuation re-rating of the streamlined entity.
The Mobility spin-off follows a broader trend of financial-data conglomerates streamlining to focus on core ratings, indices, and market-intelligence businesses. MBGL now trades independently on NYSE.
Pro forma figures are based on management estimates and assumptions; actual post-separation results may differ significantly. $53M in non-recurring separation costs (investment banker, legal, consulting fees) are excluded from continuing ops income statements.
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