Analyst Consensus ?
ConsensusBuy28 ratings
Bullish2485.7%
Neutral414.3%
Bearish00.0%
S&P Global Inc. · SPGI · FY2026 Q3 · Calendar Q4 2026
S&P Global raises guidance as AI adoption broadens
S&P Global's Q3 analysis points to resilient demand across ratings, indices and data services, with AI adoption supporting growth and margins. The key strategic variable is the review of Capital IQ and related data businesses.
Reported Before market openNYSEFinancial Services
$132.85B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $4.43
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $3.64B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.4%
Event window
SPY move
+0.6%
Same window
Abnormal move
-0.9%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
SPGISPY benchmark
Ask FN2 about SPGI FY2026 Q3
Transcript, numbers and history already loaded
What drove SPGI's -0.4% move after FY2026 Q3 earnings?What changed in SPGI's guidance and outlook in FY2026 Q3?Give me the bull and bear case for SPGI after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The analysis says third-quarter organic revenue growth was 7% with 60 basis points of margin expansion. Full-year organic growth guidance was raised to 7.5%-8.5% and EPS guidance to $17.70-$17.95; management also announced a strategic review of Capital IQ and related data businesses.
Guidance delta
Raised: full-year organic revenue growth guidance to 7.5%-8.5% and EPS guidance to $17.70-$17.95.
Key takeaways
- AI-driven products contributed roughly 50 basis points of revenue growth in Energy and Market Intelligence, according to the analysis.
- Index-linked asset inflows, issuance activity and demand for AI-ready data were identified as growth drivers.
- Share repurchases are on track for more than $7 billion by year-end, while Capital IQ's strategic review adds portfolio uncertainty.
Management priorities
- Expand the AI data portal and adaptive retrieval agents.
- Evaluate the potential separation or sale of Capital IQ and associated data platforms.
- Use Data Center Hawk and new index partnerships to address data-center and market-data demand while maintaining capital discipline.
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Miss
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Analyst 52W Price Targets
$448.93Current
$407Low
$509.39Average
$629High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 28, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Overweight | Overweight | Maintain | Oct 14, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Oct 13, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 7, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Oct 6, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 26, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 29, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 29, 2026 |
| Baird | Outperform | Outperform | Maintain | Jul 29, 2026 |
| Stifel | Buy | Buy | Maintain | Jul 17, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 10, 2026 |
| UBS | Buy | Buy | Maintain | Jul 7, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Apr 13, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Feb 11, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Feb 11, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Jul 2, 2025 |
| Raymond James | Market Perform | Outperform | Downgrade | Sep 23, 2024 |
| Erste Group | Hold | Buy | Downgrade | Apr 3, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Feb 10, 2023 |
| Atlantic Equities | Overweight | Neutral | Upgrade | Nov 7, 2022 |
| Argus Research | Buy | Buy | Maintain | Nov 1, 2022 |
| Deutsche Bank | Buy | Buy | Maintain | Oct 21, 2022 |
| Jefferies | Buy | Buy | Maintain | Jun 2, 2022 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Feb 7, 2020 |
| PiperJaffray | Overweight | Overweight | Maintain | Apr 5, 2019 |
| Piper Sandler | Overweight | Overweight | Maintain | Apr 5, 2019 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jul 27, 2018 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Nomura | Neutral | Neutral | Maintain | Jan 11, 2018 |
Named analyst price targets
Upside is calculated against the persisted current price $448.93. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Stephanie Moore | $490 | $424.81 | +9.1% | Oct 16, 2026 |
| Morgan Stanley | Analyst unavailable | $477 | $396.13 | +6.3% | Oct 7, 2026 |
| Mizuho Securities | Sean Kennedy | $531 | $388.72 | +18.3% | Oct 5, 2026 |
| Robert W. Baird | Jeffrey Meuler | $513 | $440.21 | +14.3% | Sep 2, 2026 |
| Stifel Nicolaus | Analyst unavailable | $521 | $457.38 | +16.1% | Jul 17, 2026 |
| RBC Capital | Ashish Sabadra | $510 | $443.91 | +13.6% | Jul 7, 2026 |
| BMO Capital | Analyst unavailable | $505 | $447.22 | +12.5% | Jul 7, 2026 |
| Barclays | Manav Patnaik | $565 | $417.48 | +25.9% | Feb 23, 2026 |
| UBS | Analyst unavailable | $550 | $412.94 | +22.5% | Feb 17, 2026 |
| Mizuho Securities | Analyst unavailable | $551 | $390.76 | +22.7% | Feb 12, 2026 |
| Evercore ISI | David Motemaden | $625 | $400.3 | +39.2% | Feb 11, 2026 |
| BMO Capital | Jeffrey Silber | $482 | $401.26 | +7.4% | Feb 11, 2026 |
| Stifel Nicolaus | Analyst unavailable | $489 | $401.08 | +8.9% | Feb 11, 2026 |
| Robert W. Baird | Analyst unavailable | $546 | $401.08 | +21.6% | Feb 11, 2026 |
| Goldman Sachs | George Tong | $498 | $407.52 | +10.9% | Feb 11, 2026 |
| Goldman Sachs | Analyst unavailable | $555 | $440 | +23.6% | Feb 9, 2026 |
| Morgan Stanley | Analyst unavailable | $627 | $544.48 | +39.7% | Jan 13, 2026 |
| Evercore ISI | David Motemaden | $632 | $543.12 | +40.8% | Jan 8, 2026 |
| Goldman Sachs | Analyst unavailable | $640 | $499.44 | +42.6% | Dec 16, 2025 |
| BMO Capital | Jeffrey Silber | $546 | $501.79 | +21.6% | Nov 14, 2025 |
| Evercore ISI | Analyst unavailable | $629 | $489.61 | +40.1% | Oct 31, 2025 |
| BMO Capital | Jeffrey Silber | $538 | $491.57 | +19.8% | Oct 31, 2025 |
| BMO Capital | Analyst unavailable | $558 | $482.88 | +24.3% | Oct 16, 2025 |
| Mizuho Securities | Analyst unavailable | $643 | $482.88 | +43.2% | Oct 16, 2025 |
| Morgan Stanley | Analyst unavailable | $620 | $482.43 | +38.1% | Oct 9, 2025 |
| Seaport Global | Analyst unavailable | $540 | $486.71 | +20.3% | Oct 1, 2025 |
| Mizuho Securities | Sean Kennedy | $599 | $480 | +33.4% | Mar 12, 2025 |
| Stifel Nicolaus | Shlomo Rosenbaum | $560 | $487.34 | +24.7% | Oct 28, 2024 |
| BMO Capital | Jeffrey Silber | $589 | $527.52 | +31.2% | Oct 15, 2024 |
| Morgan Stanley | Toni Kaplan | $570 | $518.35 | +27.0% | Oct 9, 2024 |
| Evercore ISI | David Motemaden | $599 | $512.22 | +33.4% | Oct 1, 2024 |
| Morgan Stanley | Toni Kaplan | $564 | $513.31 | +25.6% | Sep 5, 2024 |
| BMO Capital | Jeffrey Silber | $537 | $510.6 | +19.6% | Sep 4, 2024 |
| Wells Fargo | Jason Haas | $575 | $484.47 | +28.1% | Aug 12, 2024 |
| RBC Capital | Ashish Sabadra | $552 | $484.73 | +23.0% | Jul 31, 2024 |
| Barclays | Manav Patnaik | $550 | $488.51 | +22.5% | Jul 31, 2024 |
| Stifel Nicolaus | Shlomo Rosenbaum | $540 | $488.51 | +20.3% | Jul 30, 2024 |
| Morgan Stanley | Toni Kaplan | $510 | $449.44 | +13.6% | Jul 5, 2024 |
| Oppenheimer | Owen Lau | $486 | $446 | +8.3% | Jul 1, 2024 |
| RBC Capital | Ashish Sabadra | $500 | $436.28 | +11.4% | May 24, 2024 |
| Raymond James | Patrick O'Shaughnessy | $462 | $424.04 | +2.9% | Apr 11, 2024 |
| BMO Capital | Jeffrey Silber | $483 | $425.45 | +7.6% | Apr 1, 2024 |
| Morgan Stanley | Analyst unavailable | $403 | $372.91 | -10.2% | Feb 6, 2023 |
| Morgan Stanley | Analyst unavailable | $388 | $343.38 | -13.6% | Jan 4, 2023 |
| Morgan Stanley | Analyst unavailable | $390 | $360.34 | -13.1% | Dec 2, 2022 |
| J.P. Morgan | Analyst unavailable | $410 | $358.33 | -8.7% | Dec 2, 2022 |
| BMO Capital | Analyst unavailable | $393 | $356.07 | -12.5% | Nov 28, 2022 |
| Morgan Stanley | Analyst unavailable | $378 | $346.92 | -15.8% | Nov 17, 2022 |
| Barclays | Manav Patnaik | $385 | $319.93 | -14.2% | Jun 19, 2022 |
| UBS | Alex Kramm | $407 | $315.1 | -9.3% | Jun 16, 2022 |
| RBC Capital | Ashish Sabadra | $434 | $336.43 | -3.3% | Jun 10, 2022 |
| Deutsche Bank | Faiza Alwy | $418 | $335.93 | -6.9% | Jun 6, 2022 |
| Morgan Stanley | Analyst unavailable | $419 | $356.6 | -6.7% | May 4, 2022 |
| BMO Capital | Analyst unavailable | $433 | $356.44 | -3.5% | May 4, 2022 |
| Credit Suisse | Analyst unavailable | $425 | $353.79 | -5.3% | May 4, 2022 |
| Raymond James | Analyst unavailable | $462 | $348.96 | +2.9% | May 4, 2022 |
| BMO Capital | Jeffrey Silber | $462 | $395.35 | +2.9% | Apr 20, 2022 |
| Credit Suisse | Kevin McVeigh | $495 | $407.88 | +10.3% | Apr 2, 2022 |
| BMO Capital | Jeffrey Silber | $454 | $379.68 | +1.1% | Mar 12, 2022 |
| J.P. Morgan | Andrew Steinerman | $480 | $399.12 | +6.9% | Mar 2, 2022 |
| Jefferies | Hamzah Mazari | $453 | $399.12 | +0.9% | Mar 2, 2022 |
| RBC Capital | Ashish Sabadra | $540 | $390.58 | +20.3% | Mar 1, 2022 |
| Robert W. Baird | Jeffrey Meuler | $493 | $375.7 | +9.8% | Feb 28, 2022 |
| Argus Research | John Eade | $500 | $460.93 | +11.4% | Oct 27, 2021 |
Track every rating change on SPGI the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationS&P Global Inc., together with its subsidiaries, provides benchmarks, data, analytics, and workflow solutions in the global capital, energy and commodity, and automotive markets. It operates through five segments: S&P Global Market Intelligence, S&P Global Ratings, S&P Global Energy, S&P Global Mobility, and S&P Dow Jones Indices. The S&P Global Market Intelligence segment provides multi-asset-class data and analytics integrated with purpose-built workflow solutions. This segment offers Data, Analytics & Insights, a desktop product suite that provides data, analytics, and third-party research for global finance and corporate professionals; research, reference data, market data, derived analytics, and valuation services; enterprise solutions, such as software and workflow solutions; and credit and risk solutions for selling Ratings' credit ratings and related data and research, analytics, and financial risk solutions.…
Historical context
All SPGI earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| HSBC HSBC Holdings plc | FY2026 Q3 · Calendar Q4 2026 | -4.5% | -5.7% | HSBC posts solid Q3 growth as guidance stays unchanged |
| HIG-PG The Hartford Financial Services Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +10.4% | — | The Hartford posts strong Q3 as workers’ comp risks rise |
| PYPL PayPal Holdings, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +2.0% | PayPal raises EPS outlook as Venmo and financial services expand |
| SOFI SoFi Technologies, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +13.4% | SoFi raises 2026 outlook as growth broadens beyond lending |
| HIG The Hartford Insurance Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +10.4% | -1.8% | HIG keeps growth momentum as workers’ comp frequency rises |
| TRU TransUnion | FY2026 Q3 · Calendar Q4 2026 | — | -5.3% | TransUnion points to insurance and international growth after strong Q3 |
Latest beats and misses
Who reports nextBeat on EPS
- INIOFY2026 Q3 · October 27, 2026+29.5% EPS+2.1% move
- KOFY2026 Q3 · October 27, 2026+3.3% EPS-1.6% move
- HIG-PGFY2026 Q3 · October 26, 2026+10.4% EPS— move
- HIGFY2026 Q3 · October 26, 2026+10.4% EPS-1.8% move
- CLSFY2026 Q3 · October 26, 2026+12.6% EPS+12.1% move
- CINFFY2026 Q3 · October 26, 2026+39.5% EPS+2.3% move
Missed on EPS
- HSBCFY2026 Q3 · October 27, 2026-4.5% EPS-5.7% move
- BROFY2026 Q3 · October 26, 2026-1.8% EPS-5.0% move
- PSA-PLFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PNFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-POFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PKFY2026 Q3 · October 26, 2026-32.1% EPS— move
Get the SPGI recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-10-27T16:05:40.990927+00:00
- FN2 earnings calendar · 2026-10-27T01:23:15.065758+00:00
- Polygon adjusted daily market bars · 2026-10-28T01:00:41.340220+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-28T01:00:41.337504+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-28. For educational purposes only; not investment advice.