S&P Global Shares Fall 9.7% After Q4 EPS Miss and Lower 2026 Guidance
S&P Global dropped 9.7% to $401.08 after reporting fourth-quarter adjusted EPS of $4.30, slightly missing the $4.32 consensus, and revenue of $3.916 billion, up 9% year-over-year. The company guided 2026 adjusted EPS to $19.40–$19.65 and projected $16.348–$16.655 billion in revenue, below analyst forecasts.
1. Q4 Financial Results
S&P Global reported fourth-quarter adjusted EPS of $4.30, narrowly below the $4.32 consensus, and delivered revenue of $3.916 billion, up 9% year-over-year. All five business segments posted growth, led by Ratings at 12% and Indices at 14%, while GAAP diluted EPS rose 32% to $3.75 and adjusted operating margin improved to 47.3%.
2. 2026 Guidance
The company forecast 2026 adjusted EPS of $19.40 to $19.65, falling short of the $19.79 analyst consensus, and projected full-year revenue between $16.348 billion and $16.655 billion, implying 6% to 8% organic growth. This guidance reflects caution on top-line momentum despite broad segment strength.
3. Market Reaction
Shares closed at $401.08 after falling 9.71% on the day, trading within a $395.88 to $424.80 intraday range. The stock’s steep decline underscores investor concern over the slight earnings miss and the softer-than-expected full-year outlook.