S&P Global Inc (NYSE:SPGI) shares moved lower on Monday after the company posted mixed fourth‑quarter results and issued full‑year 2026 earnings guidance that fell short of Wall Street expectations.
Q4 Results, Guidance And Performance
The company reported adjusted earnings of $4.30 per share, just under the $4.32 analysts were looking for, while revenue came in at $3.916 billion, slightly above estimates and up 9% from a year ago.
For 2026, S&P Global projected adjusted earnings of $19.40 to $19.65 per share, below the consensus estimate of $19.79. The company expects revenue between $16.348 billion and $16.655 billion, with organic constant‑currency growth of 6% to 8%.
CEO Martina Cheung said the quarter was supported by strong performance across all divisions, continued momentum in private markets and expanding relationships with CCO clients.
Despite the softer guidance, the company delivered a solid fourth-quarter. GAAP diluted EPS rose 32% to $3.75, and adjusted operating margin improved to 47.3%. All five business segments posted revenue growth, including a 12% increase in Ratings, 14% in Indices, 7% in Market Intelligence, 6% in Energy and 8% in Mobility.
For 2025, S&P Global generated $15.336 billion in revenue, up 8%, and reported adjusted diluted EPS of $17.83, up 14%. The company returned $6.2 billion to shareholders through dividends and buybacks, exceeding its adjusted free cash flow.
Looking ahead, S&P Global expects adjusted operating margins to expand by 10 to 35 basis points in 2026, or 50 to 75 basis points excluding OSTTRA.
SPGI Price Action: S&P Global shares were down 7.64% at $410.26 at the time of publication on Tuesday. The stock is trading at a new 52-week low, according to Benzinga Pro.
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