S&P Global Raises 2026 Revenue Growth Outlook

The Tip Desk · October 27, 2026 · 2 min read

Third-quarter continuing-operations revenue was $3.678 billion, up 7%, as the company lifted full-year growth guidance and opened a Capital IQ review.

S&P Global (SPGI) raised its full-year 2026 revenue growth outlook after third-quarter continuing-operations sales of $3.678 billion, up 7% from a year earlier, an increase of nearly $240 million.

The data-and-analytics company now expects 2026 revenue growth of 7.4% to 8.4%, and organic constant currency growth of 7.5% to 8.5%, versus prior ranges of 5.9% to 7.9% and 6.0% to 8.0%. It said both lifts were driven by higher expected revenue from Ratings and Indices.

GAAP diluted earnings per share from continuing operations rose 26% to $4.45. Adjusted diluted earnings per share rose 9% to $4.58. Reported operating margin increased 800 basis points to 53.2%, aided by a $200 million gain on disposition in Energy. Adjusted operating margin increased 60 basis points to 53.5%.

The company said the increase in revenue was driven primarily by Indices and Market Intelligence, with additional growth in Energy and Ratings. Subscription-product revenue increased 6%.

Indices revenue rose 20% to $554 million and operating profit rose 24% to $388 million. Market Intelligence revenue rose 7% to $1.263 billion and operating profit rose 19% to $301 million. Ratings revenue rose 2% to $1.271 billion and operating profit rose 2% to $834 million. Energy revenue rose 6% to $645 million; Energy operating profit rose 88% to $469 million, including the $200 million disposition gain.

The company has initiated a strategic review of alternatives, including potential separation, for Capital IQ and associated data businesses, which it said constitute the majority of Kensho Data & Platforms within Market Intelligence. It expects to retain RatingsDirect, RatingsXpress, and Enterprise Solutions. There is no specific timeframe for the review, and the company said there can be no assurance it will result in any transaction. Guidance assumes a full contribution from Market Intelligence as currently structured for the full year.

Adjusted diluted EPS for 2026 is now expected at $17.70 to $17.95, above the prior range of $17.50 to $17.75. GAAP diluted EPS is expected at $16.25 to $16.50, below the prior range of $16.35 to $16.60, primarily due to adjustments to expected gain on dispositions. Adjusted operating margin expansion is expected above the prior 35-to-60-basis-point range; GAAP operating margin expansion is expected below the prior 335-to-360-basis-point range.

In the third quarter the company executed $2.6 billion of share repurchases and more than $4 billion year-to-date. It continues to expect to repurchase more than $7 billion of shares in 2026. The board has authorized a quarterly cash dividend of $0.97 a share.

All financial information in the release reflects continuing operations after the July 1 spin-off of Mobility into Mobility Global (MBGL), with prior periods recast.