Key Takeaways Second-quarter revenue reached $4.15 billion, reflecting a 10.4% year-over-year increase and surpassing projections by 1% The company’s adjusted earnings per share of $4.83 fell
Shares of S&P Global (SPGI) declined 2.5% during Tuesday’s premarket session following the release of second-quarter financial results that presented a mixed picture and a downward revision to the company’s annual earnings forecast.
The company reported quarterly revenue of $4.15 billion, marking a 10.4% increase from the prior-year period and exceeding the Street’s expectation of $4.11 billion. However, adjusted earnings per share came in at $4.83, missing the consensus target of $5.02 by 3.7%.
These figures require context. The company finalized the separation of its Mobility business on July 1, 2026. Financial results are now presented on a pro forma basis, reflecting the spinoff as though it occurred in earlier periods, which creates potential discrepancies when comparing against analyst forecasts.
S&P GLOBAL $SPGI Q2’26 EARNINGS HIGHLIGHTS
Revenue: $4.15B (Est. $3.85B)
; +10% YoY
FY26 Guide:
— Wall St Engine (@wallstengine) July 28, 2026
Using the pro forma methodology, second-quarter revenue totaled $3.68 billion, representing an 11% year-over-year increase. The adjusted EPS figure of $4.83 compares favorably to the $3.90 reported in the second quarter of 2025.
The Ratings business delivered the strongest performance, generating $1.34 billion in revenue with a 17% year-over-year gain. The Indices segment also demonstrated impressive momentum, recording $534 million in revenue and achieving 20% growth.
Market Intelligence contributed $1.29 billion to the top line, representing a 6% annual increase. The Energy division reported $568 million in revenue with modest 2% growth, marking the slowest expansion among the company’s four main segments.
The adjusted operating margin expanded to 54.3%, compared to 52.3% in the same quarter last year.
CEO Martina Cheung emphasized the benefits of the post-spinoff structure. “We have a sharper focus on our four core divisions, having also made organizational changes in Market Intelligence and combined our supply chain products within our Energy division,” she said.
Cheung also called attention to the company’s artificial intelligence initiatives, citing “continued rapid adoption and expansion of our AI solutions.”
The primary source of investor concern stems from the revised outlook. S&P Global now projects full-year adjusted earnings per share in the range of $17.50 to $17.75, translating to a midpoint of $17.63. This marks a significant 9.7% reduction from the company’s previous guidance.
The company anticipates revenue growth between 5.9% and 7.9%, with organic constant currency expansion projected at 6.0% to 8.0%.
Pre-tax earnings for the quarter amounted to $1.73 billion, yielding a margin of 41.7%.
Looking at the longer-term trend, S&P Global has delivered revenue growth at a 10.2% annualized rate over the past two years, modestly outpacing its five-year compound annual growth rate of 9%.
The company maintains a market capitalization of roughly $130.2 billion.
SPGI shares were trading down approximately 5.3% during Tuesday’s regular session.
The post S&P Global (SPGI) Shares Drop Over 5% on Earnings Shortfall and Reduced Outlook appeared first on Blockonomi.
