SPGI · 10-Q · 2026Q1 · Full report

FX / Currency Headwinds

S&P Global Inc. · 2026-04-28 · Importance 19 · Surprise 6

Management reports foreign exchange was a net positive in the quarter across multiple businesses, contributing ~1 percentage point at the consolidated operating profit level and providing favorable impacts ranging from less than 1 to 3 percentage points across segments. Ratings reported a favorable FX impact of 3 percentage points on revenue growth; Energy and Indices reported favorable FX impacts of less than 1 percentage point; corporate operating profit noted a favorable impact of 1 percentage point. The company attributes these FX impacts to movements in exchange rates during the three months ended March 31, 2026 and quantifies them by segment in MD&A.

Key facts

• Foreign exchange rates had a favorable impact on consolidated operating profit of 2 percentage points for the three months ended March 31, 2026.
• Ratings revenue increased 13% with a favorable impact from foreign exchange rates of 2 percentage points for the three months ended March 31, 2026.
• Foreign exchange rates had a favorable impact on consolidated revenue of less than 1 percentage point for the three months ended March 31, 2026.
• Foreign exchange rates had a favorable impact of 1 percentage point on consolidated operating profit growth.
• Foreign exchange rates had a favorable impact of 1 percentage point on Mobility revenue growth in Q1 2026 and a favorable impact of 6 percentage points on Mobility operating profit.
• Foreign exchange rates had a favorable impact of less than 1 percentage point on Energy revenue growth in the first quarter of 2026.
• Foreign exchange rates had a favorable impact of 1 percentage point on Indices revenue growth in Q1 2026 and a favorable impact of less than 1 percentage point on Indices operating profit.