S&P Global Gears Up to Report Q3 Earnings: What's in the Offing?

S&P Global Inc. SPGI is scheduled to release its third-quarter 2025 results on Oct. 30, before market open.

SPGI has a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in the past four trailing quarters, with an average surprise of 6.1%.

S&P Global’s Q3 Expectations

The Zacks Consensus Estimate for revenues is pegged at $3.8 billion, indicating a 7.3% rise from the year-ago quarter’s actual. Performance across segments is expected to have benefited the top line.

Our estimate for Market Intelligence revenues in the third quarter of 2025 is $1.2 billion, representing a 6.3% year-over-year increase. The likely reasons behind this growth include revenue transformation, enhanced customer retention and high demand for the Wall Street Office and Notice Manager. Other factors for growth might include a rise in ratings data fees for client digitalization and analytics fueled by GenAI.

We expect Ratings’ revenues to be at $1.1 billion, up 1.6% from the year-ago quarter’s actual. Revenues in this segment are expected to have been driven by non-transaction revenues, a successful private credit strategy and GenAI-powered CreditCompanion.

Commodity Insights' revenues are anticipated to be at $555.4 million, suggesting 6.4% growth on a year-over-year basis. Commercial momentum from enterprise contracts and the robust performance of Global Trading Services are factors we anticipated to have aided this segment.

Our estimate for Mobility revenues hints at 8.6% growth from the year-ago quarter’s actual to $447.4 million. Strong growth in Dealer revenues from CARFAX and improved underwriting volumes in Financials and Other business lines are expected to have driven this segment’s growth.

We anticipate Indices revenues of $435.1 million, indicating a 4.6% year-over-year rise. Factors that we expect to have improved this segment’s performance include high asset-linked fees from higher exchange-traded fund assets under management and increased volume of exchange-traded derivatives.

We expect an adjusted EBITDA of $2.1 billion for the quarter, indicating a 3.6% hike from the year-ago quarter’s reported number. The adjusted EBITDA margin is anticipated to be 56.3%, indicating growth from the year-ago quarter’s 57%.

The consensus estimate for earnings per share is pinned at $4.40, suggesting a 13.1% rise on a year-over-year basis. We anticipate increased revenues and expanded margins leading to bottom-line growth.

What Our Model Predicts About SPGI

Our model predicts an earnings beat for SPGI this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.

S&P Global has an Earnings ESP of +1.66% and a Zacks Rank of 3 at present.

Other Stocks to Consider

Here are a few other stocks that, according to our model, have the right combination of elements to beat on earnings this time around.

Western Digital WDC: The Zacks Consensus Estimate for the company’s first-quarter fiscal 2026 revenues is pinned at $2.7 billion, indicating a 33.5% year-over-year decline. For earnings, the consensus mark is pinned at $1.59 per share, implying a 10.7% decline from the year-ago quarter’s actual. The company beat the Zacks Consensus Estimate in the past four quarters, the average surprise being 6.8%.

WDC has an Earnings ESP of +1.89% and flaunts a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Western Digital is scheduled to declare first-quarter fiscal 2026 results on Oct. 30.

Payoneer Global PAYO: The Zacks Consensus Estimate for third-quarter 2025 revenues is pinned at $263.5 million, indicating growth of 6.1% from the year-ago quarter’s actual. For earnings, the consensus mark is pegged at 6 cents per share, down 45.5% from the year-ago quarter’s reported number. PAYO surpassed the consensus estimate in one of the four quarters and missed in the other three, with an average beat of 25.3%.

It has an Earnings ESP of +1.63% and a Zacks Rank of 3 at present. Payoneer Global is scheduled to declare third-quarter 2025 results on Nov. 5.

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This article originally published on Zacks Investment Research (zacks.com).

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