NEW YORK, April 28, 2026 /PRNewswire/ — S&P Global (NYSE: SPGI) today reported first quarter results. The Company’s earnings release and supplemental materials are available at http://investor.spglobal.com/Quarterly-Earnings.
Read the complete report here.
- The Company reported quarterly revenue of $4.171 billion, increasing 10% year over year.
- GAAP operating margin increased 620 basis points and adjusted operating margin increased 100 basis points, driving 32% growth in GAAP diluted EPS and 14% growth in adjusted diluted EPS, respectively, year over year.
- In the first quarter, the Company repurchased $1 billion in shares, and now expects to return 100% or more of adjusted Free Cash Flow through dividends and share repurchases in 2026.
- 2026 guidance now calls for reported revenue growth of 6.3% to 8.3%, while still expecting organic constant currency revenue growth of 6.0% to 8.0%, and adjusted diluted EPS in the range of $19.40 to $19.65. Other GAAP guidance to be provided upon completion of Mobility spin.
The Company reported first-quarter 2026 revenue of $4.171 billion, an increase of 10% compared to the first quarter of 2025. First quarter GAAP net income increased 28% to $1.395 billion and GAAP diluted earnings per share increased 32% to $4.69. Adjusted net income for the first quarter increased 10% to $1.479 billion and adjusted diluted earnings per share increased 14% to $4.97. Higher net income was driven primarily by strong growth in Ratings, Indices, and Market Intelligence, on both a GAAP and adjusted basis.
The Company remains on track with the previously announced planned separation of its Mobility division. Mobility Global expects to host an Investor Day on May 12, 2026 in New York City.
In a press release dated April 24, 2026, the Company also announced an agreement to divest the geoscience and petroleum engineering software portfolio in its Upstream software business within the Energy division. That transaction is expected to close in the second half of 2026 or early 2027.
“We are pleased with the results we achieved in the first quarter, with strong revenue growth and margin expansion in every division, demonstrating our ability to execute and deliver against our strategic vision in an incredibly volatile and challenging operating environment.
Everything we see reinforces the relevance of our vision as customers turn to us with an even greater sense of urgency in times like these. We are also seeing fast-paced adoption of our AI functionality and are advancing our leadership as we rapidly innovate and partner to help customers unlock the potential of AI.”
Martina Cheung, President and CEO
Note: All presentations of revenue above refer to GAAP revenue. Adjusted financials refer to non-GAAP adjusted metrics in all periods.
The Company’s first-quarter reported operating profit margin increased by 620 basis points to 48.0%, and adjusted operating profit margin increased 100 basis points to 51.8%. Margin improvement on both a GAAP and adjusted basis was driven primarily by growth and margin expansion in the Company’s Ratings, Indices, and Market Intelligence divisions.
First quarter GAAP diluted earnings per share increased 32% to $4.69 primarily due to a 28% increase in net income, and a 3% reduction in diluted shares outstanding.
Adjusted diluted earnings per share increased 14% to $4.97 due to a 10% increase in adjusted net income and a 3% decrease in diluted shares outstanding. Currency positively impacted both GAAP and adjusted diluted EPS by $0.02. The largest non-core adjustments to earnings in the first quarter of 2026 were for deal-related amortization and gain on dispositions.
In addition to the above, the Company continues to expect adjusted free cash flow, excluding certain items, to grow mid single digits year over year.
Reported Revenue growth is now expected to be approximately 30 basis points lower than the previous guidance range, due primarily to lower expected tailwinds from FX. Guidance for Organic, Constant Currency Revenue growth is unchanged from prior guidance.
Interest expense, net is now expected to be approximately $10 million higher than prior guidance. All other guidance metrics are unchanged from prior ranges.
Non-GAAP adjusted guidance excludes amortization of intangibles related to acquisitions and acquisition and disposition-related costs.
The Company is not providing 2026 GAAP guidance at this time, other than reported revenue growth and capital expenditures. Given the inherent uncertainty around the timing of the spin of the Company’s Mobility division, and other related factors, management cannot reliably predict all of the necessary components of GAAP measures without unreasonable effort. Guidance assumes contributions from Mobility for the full year and excludes any impact from anticipated stranded costs. The Company expects to update adjusted guidance to exclude Mobility and institute GAAP guidance upon completion of the spin.
As previously announced, the Board of Directors has authorized a quarterly cash dividend of $0.97.
Supplemental Information/Conference Call/Webcast Details: The Company’s senior management will review the first quarter 2026 earnings results on a conference call scheduled for today, April 28, at 8:30 a.m. EDT. Additional information presented on the conference call, and the Company’s supplemental slide content may be found on the Company’s Investor Relations Website at http://investor.spglobal.com/Quarterly-Earnings.
The Webcast will be available live and in replay at http://investor.spglobal.com/Quarterly-Earnings. Telephone access is available. U.S. participants may call (888) 603-9623; international participants may call +1 (630) 395-0220 (long-distance charges will apply). The passcode is “S&P Global” and the conference leader is Martina Cheung. A recorded telephone replay will be available approximately two hours after the meeting concludes and will remain available until May 28, 2026. U.S. participants may call (866) 360-7720; international participants may call +1 (203) 369-0172 (long-distance charges will apply). No passcode is required.
Read the complete report here.
Source: spglobal.com
