The strong Q2 beat and aggressive buyback signal management confidence in core business momentum post-Mobility spin-off. Watch for H2 execution on Ratings and Indices growth, and any impact from macroeconomic headwinds on debt issuance volumes.
Price Chart
Executive Summary
S&P Global reported strong Q2 2026 results with pro forma revenue up 11% YoY to $3.678B and adjusted diluted EPS of $4.83, beating the $4.49 consensus by 7.6%. The company completed the Mobility spin-off on July 1 and raised its 2026 share repurchase target to over $7 billion, signaling confidence in its core Ratings, Indices, and Market Intelligence divisions.
Key Financial Metrics
Key Facts
- Pro forma revenue (ex-Mobility) $3.678B, +11% YoY
- Adjusted diluted EPS $4.83 vs consensus $4.49 (+7.6%)
- GAAP diluted EPS $4.12, +18% YoY
- Completed Mobility spin-off on July 1, 2026 (NYSE: MBGL)
- 2026 share repurchase target increased to >$7 billion (from $1.5B YTD)
- Full-year 2026 adjusted EPS guidance: $17.50-$17.75
- Pro forma operating margin expanded 410 bps to 47.8%; adjusted operating margin 54.3%
Financial Impact
Adjusted EPS beat consensus by $0.34 (7.6%); revenue growth 11% pro forma; buyback program increased to >$7B for 2026
Risk Factors
- Macroeconomic slowdown could reduce debt issuance and ratings revenue
- Integration risks from organizational changes in Market Intelligence and Energy
- Potential dilution from share-based compensation or acquisitions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000064040-26-000040 |
| Document: spgi-20260728.htm | 0000064040-26-000040 |
| Document: 0000064040-26-000040-index-headers.html | 0000064040-26-000040 |
| Document: 0000064040-26-000040-index.html | 0000064040-26-000040 |
| Document: 0000064040-26-000040.txt | 0000064040-26-000040 |
| 8-K Data (Synthetic) | 0000064040-26-000040 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 28d ago | Press Release | $450.58 $410.71 | ▼ −8.85% | ▼ −7.70% | $383.38 (−14.91%) |
Jul 28, 2026 9w ago | Press Release | $424.36 $416.25 | ▼ −1.91% | ▼ −4.18% | $383.38 (−9.66%) |
Jul 28, 2026 9w ago | 8-K | $424.36 $416.25 | ▼ −1.91% | ▼ −4.18% | $383.38 (−9.66%) |
Jul 2, 2026 13w ago | 8-K | $439.89 $432.96 | ▼ −1.58% | ▼ −2.51% | $383.38 (−12.85%) |
Jun 12, 2026 16w ago | Institutional Cluster | $418.91 $410.92 | ▼ −1.91% | ▼ −2.58% | $383.38 (−8.48%) |
May 26, 2026 18w ago | 8-K | $412.15 $417.30 | ▲ +1.25% | ▲ +0.04% | $383.38 (−6.98%) |
May 21, 2026 19w ago | 8-K | $415.57 $423.81 | ▲ +1.98% | ▲ +0.13% | $383.38 (−7.75%) |
May 18, 2026 19w ago | 8-K | $417.29 $412.15 | ▼ −1.23% | ▼ −2.85% | $383.38 (−8.13%) |
May 7, 2026 21w ago | 8-K | $419.80 $403.92 | ▼ −3.78% | ▼ −5.25% | $383.38 (−8.68%) |
Apr 29, 2026 22w ago | Insider Cluster | $423.67 $423.74 | ▲ +0.02% | ▼ −1.97% | $383.38 (−9.51%) |
US Market Status
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