S&P Global Misses Q4 EPS by $0.02, 2026 EPS Guidance Under Consensus
S&P Global reported Q4 adjusted EPS of $4.30 versus $4.32 expected and revenue of $3.916B, up 9% y/y, and guided 2026 adjusted EPS of $19.40-19.65 below consensus with $16.35B-16.66B revenue. GAAP EPS rose 32% to $3.75, operating margin improved to 47.3%, and Ratings and Indices grew 12% and 14% respectively.
1. Q4 Financial Highlights
The company posted adjusted Q4 EPS of $4.30 versus $4.32 expected on revenue of $3.916 billion, a 9% year-over-year increase. GAAP diluted EPS rose 32% to $3.75 and adjusted operating margin improved to 47.3%.
2. Business Segment Performance
All five divisions delivered growth: Ratings revenue climbed 12%, Indices 14%, Market Intelligence 7%, Energy 6% and Mobility 8%, reflecting broad-based demand across its analytics and data services.
3. Full-Year 2026 Outlook
For 2026 the firm forecasts adjusted EPS of $19.40 to $19.65 and revenue of $16.348 billion to $16.655 billion, implying 6%-8% organic constant-currency growth, with operating margins projected to expand by 10-35 basis points.
4. Shareholder Returns & Market Reaction
S&P Global returned $6.2 billion in 2025 via $5 billion in buybacks and $1.2 billion in dividends, while shares plunged 7.7% to a 52-week low on the softer guidance outlook.