S&P Global Misses Earnings Estimates but Outperforms on Adjusted Metrics
In its second-quarter earnings report, S&P Global reported a revenue increase of nearly $4.15 billion, up 10% year-over-year and above analyst expectations. However, per-share earnings came in below most estimates at $4.12. The company also revised down full-year guidance due to slower growth from its energy markets segment. The confusion stemmed partly from the recent spin-off of S&P Global’s automotive data business into a new entity called Mobility Global on July 1. This change affected how results were reported, with GAAP and non-GAAP figures both provided for clarity. On an adjusted basis, operating profit rose by 15%, while diluted earnings per share increased by 23% to $4.83. Despite the initial market reaction that sent shares down briefly after the report, investors began to reassess as they better understood the impact of the spin-off and improved operational performance. The stock recovered later in the session.
Tickers: $SPGI
Topics: Q2 Earnings S&P Global Spin-off Impact