SPGI · Full Picture

S&P Global Inc. — the full picture

Earnings window · 2026-07-28 to 2026-11-09 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Operating Expense Trends · Operating expenses (SG&A)Priority 86
    -24.2% operating_income; 3 sources (press_release, sec_filing, transcript); 5 forward row(s); quote_verified
    Full-year 2026 deal-related amortization is expected to be approximately $785 million (both GAAP and Adjusted).
  2. Guidance / Outlook · Guidance & outlookPriority 85
    +9.4% revenue; 3 sources (news, press_release, transcript); 18 forward row(s); quote_verified
    Full-year 2026 GAAP revenue growth guidance calls for 5.9% to 7.9%.
  3. Capital Return Program · Buybacks & dividendsPriority 84
    +0.7% liability; 4 sources (news, press_release, sec_filing, transcript); 3 forward row(s); structured_verified
    S&P Global increased planned 2026 buybacks to $7 billion, twice the $3.5 billion originally announced in February.
  4. Remaining Performance Obligations · Demand, orders & backlogPriority 82
    +43.6% revenue; 2 forward row(s); quote_verified
    S&P Global expects to recognize revenue on approximately half and three-quarters of the remaining performance obligations over the next and months, respectively (language in filing).
  5. Ratings performance · UnclassifiedPriority 81
    +14.7% revenue (realized); 4 sources (news, press_release, sec_filing, transcript); 3 forward row(s); quote_verified
    Ratings segment revenue for the three months ended June 30, 2026 was $1,339 million, up 17% year over year; six months revenue was $2,641 million, up 15% year over year.
  6. Outstanding Indebtedness · Debt, leverage & refinancingPriority 80
    -5.1% liability; 3 sources (press_release, sec_filing, transcript); 4 forward row(s); quote_verified
    Short-term debt on the balance sheet at June 30, 2026 was $2,572 million (compared to $718 million at December 31, 2025).
  7. Revenue Performance and Mix · Revenue growth & mixPriority 78
    +114.8% revenue (realized); 4 sources (news, press_release, sec_filing, transcript); quote_verified
    S&P Global reported second-quarter 2026 GAAP revenue of $4.146 billion, an increase of 10% compared to the second quarter of 2025.
  8. Indices Revenue and AUM Growth · UnclassifiedPriority 74
    +9.6% revenue (realized); 3 sources (press_release, sec_filing, transcript); quote_verified
    Indices segment revenue for the three months ended June 30, 2026 was $534 million, up 20% year over year; six months revenue was $1,053 million, up 18% year over year.
  9. Operating Profit and Margin Drivers · Gross marginPriority 74
    +4.1% margin; 3 sources (news, press_release, transcript); 4 forward row(s); quote_verified
    On a pro forma basis excluding Mobility, operating profit increased 21% to $1.757 billion in the second quarter of 2026.
  10. Operating Profit and Margin Drivers · Operating income & profitabilityPriority 73
    +15.2% operating_income (realized); 2 sources (press_release, sec_filing); structured_verified
    For the three and nine months ended September 30, 2026, operating profit included a $200 million gain on disposition.
  11. Quarterly Results Snapshot (Earnings and EPS) · Operating income & profitabilityPriority 72
    +31.3% operating_income (realized); 2 sources (news, sec_filing); quote_verified
    S&P Global Q3 2026 revenue was $3.68 billion versus analysts’ estimates of $3.65 billion, up 6.8% year over year and 0.9% above estimates.
  12. Indices Segment Performance · UnclassifiedPriority 70
    +7.2% revenue (realized); 3 sources (press_release, sec_filing, transcript); quote_verified
    Market Intelligence operating profit for the three months ended June 30, 2026 was $293 million, up 13% year over year; six months operating profit was $733 million, up 53% year over year.

Threads by pillar

Revenue & Demand Priority 96 · 14 threads

Costs & Margins Priority 93 · 8 threads

Capital & Balance Sheet Priority 94 · 7 threads

Strategy & Portfolio Priority 87 · 15 threads

Legal, Regulatory & Policy Priority 39 · 3 threads

Guidance & Outlook Priority 86 · 2 threads

Macro & Market Conditions Priority 75 · 5 threads

Management & Governance Priority 39 · 3 threads

Shareholders & Street Priority 30 · 1 thread

Unclassified Priority 98 · 5 threads

Expected impact by metric

metricforward netforward grossrealized
revenue+53.0%+53.1%+200.1%
operating_income-24.8%+26.0%+103.9%
net_income-15.8%+15.8%+26.4%
margin+5.4%+5.8%+13.8%
liability-4.5%+5.8%-5.2%
cash+3.3%+3.8%-6.0%