S&P Global reported a 7% year-on-year increase in revenue and a 9% increase in adjusted EPS for the third quarter of 2026, prompting it to raise its full-year outlook. It also began a strategic review of Capital IQ and related data businesses, while expanding AI-related demand drove performance across its businesses.
S&P Global’s revenue rose 7% year on year and adjusted EPS increased 9% in the third quarter of 2026, leading management to raise its full-year outlook. Assets in the Index business reached a record high, while company-wide AI-related demand supported earnings growth.
By business, bond issuance in the Ratings business increased, while ETF assets expanded, led by the S&P Dow Jones Indices business. Revenue from Platts and CERA increased in the Energy business, and subscription growth also accelerated in the Market Intelligence business. Increased spending by customers using AI supported growth across the businesses, while new features such as API integration also improved the businesses’ appeal.
Management began a strategic review of Capital IQ and related data businesses and is considering the possibility of a separation. It indicated that it intends to pursue an AI-first data business strategy while maintaining existing businesses such as Ratings Direct and Ratings Express.
Looking ahead, fourth-quarter metrics are expected to remain solid. Organic revenue growth for 2026 is projected at 7.5%–8.5%, and adjusted EPS is expected to be $17.70–$17.95. The company also expects to continue accelerating share buybacks and enhancing flexibility in capital allocation.