S&P Global Beats Q3 Estimates and Launches Strategic Review of Capital IQ Data Business

S&P Global posted stronger-than-expected third-quarter 2026 results, reporting revenue of $3.7 billion, up 7% year over year, and adjusted earnings per share of $4.58, beating the consensus estimate of $4.43 by roughly 3%. Adjusted operating margin came in at 53.5%, a 60-basis-point improvement from a year earlier, while the GAAP operating margin expanded 800 basis points to 53.2%. The company repurchased $2.6 billion in shares during the quarter and paid a dividend of $0.97 per share.

Among the four reported segments, the Indices division led growth with revenue of $554 million, up 20% year over year, driven by rising demand for benchmarks. Market Intelligence and Ratings each generated $1.3 billion in revenue, with Market Intelligence up 7% and Ratings up 2%. The Energy segment contributed $645 million, a 6% increase.

Alongside the earnings release, S&P Global confirmed it has launched a formal strategic review of its Capital IQ platform and associated data businesses. Management characterized those units as strong with significant growth opportunities, citing technology changes reshaping how customers access and analyze data, and did not specify a timeline or possible outcome for the review.

For the full year 2026, the company raised its guidance, now projecting adjusted EPS of $17.70 to $17.95, up from a prior range of $17.50 to $17.75, and lifted its revenue growth outlook to a range of 7.4% to 8.4% from 5.9% to 7.9%. Shares rose about 4.3% in premarket trading following the announcement.