10-QPeriod: Q2 FY2026

S&P Global Inc. Quarterly Report for Q2 Ended Jun 30, 2026

Filed July 28, 2026For Securities:SPGI

Summary

S&P Global Inc. (SPGI) reported robust financial performance for the six months ended June 30, 2026, with total revenue increasing by 10% year-over-year to $8.318 billion. This growth was driven by strong performance across all segments, particularly Ratings and Market Intelligence, fueled by increased corporate bond ratings and subscription revenue, respectively. Diluted earnings per share saw a significant jump of 25% to $8.81, reflecting improved profitability and operational efficiencies. The company also completed the separation of its Mobility Global Inc. business effective July 1, 2026, which is now reflected as discontinued operations. This strategic move allows S&P Global to focus on its core segments: Ratings, Indices, Energy, and Market Intelligence. Significant gains on dispositions, particularly from the sale of Enterprise Data Management and thinkFolio businesses, contributed positively to the financial results. The company maintained a strong liquidity position with $4.141 billion in cash, cash equivalents, and restricted cash.

Key Highlights

  • 1Total revenue increased by 10% to $8.318 billion for the six months ended June 30, 2026, compared to the prior year period.
  • 2Diluted earnings per share (EPS) grew by 25% to $8.81 for the six months ended June 30, 2026.
  • 3S&P Global successfully completed the separation of its Mobility Global Inc. business, effective July 1, 2026, which will be reflected as discontinued operations in future reporting periods.
  • 4The company recognized a significant pre-tax gain of $186 million from dispositions during the six months ended June 30, 2026, primarily from the sale of Enterprise Data Management and thinkFolio businesses.
  • 5Operating profit increased by 22% to $3.814 billion for the six months ended June 30, 2026, demonstrating enhanced profitability.
  • 6Cash provided by operating activities increased by 3% to $2.476 billion for the first six months of 2026.
  • 7The company announced strategic acquisitions including a majority stake in Agusto & Co. and datacenterHawk, underscoring continued growth initiatives.

Frequently Asked Questions

Revenue growth was primarily driven by increases across all reportable segments. Specifically, strong performance in Ratings, attributed to higher corporate bond ratings and increased surveillance revenue, and growth in Market Intelligence, driven by subscription revenue from Data, Analytics & Insights and Lending Solutions, were key contributors. Indices also saw growth due to higher asset-linked fees and exchange-traded derivative revenue.

The separation of Mobility Global Inc. became effective on July 1, 2026. Its financial results are included in the current period's consolidated statements up to June 30, 2026. Beginning in the third quarter of 2026, Mobility's historical financial results will be presented as discontinued operations. This strategic separation allows S&P Global to focus on its remaining four core segments.

S&P Global maintains a strong financial position with $4.141 billion in cash, cash equivalents, and restricted cash as of June 30, 2026, an increase from the prior year. The company expects its cash flow from operations and available credit facilities to be sufficient for future operational needs, investments, strategic acquisitions, share repurchases, dividends, and debt repayment.

During the period, S&P Global completed the acquisition of Enertel AI Corporation and announced agreements to acquire a majority stake in Agusto & Co. and datacenterHawk. The company also announced the agreement to sell Energy's geoscience and petroleum engineering software portfolio. Significant divestitures included the sale of the Enterprise Data Management and thinkFolio businesses within Market Intelligence, which resulted in a substantial gain on disposition.