S&P Global Inc. reported first‑quarter 2026 results that surpassed Wall Street expectations, with revenue of $4.171 billion—up 10% year‑over‑year—and GAAP diluted earnings per share of $4.69, a 32% increase from the same period last year. Adjusted diluted earnings per share rose 14% to $4.97, while net income reached $1.395 billion. The company also repurchased $1 billion of shares, continuing its aggressive capital‑return program.
Revenue growth was driven by strong performance in the company’s core segments. Ratings revenue climbed 13% to $1.30 billion, Indices revenue increased 17% to $519 million, and Market Intelligence revenue grew 8% to $1.30 billion. The expansion of AI‑enabled products across these segments helped lift the mix toward higher‑margin contracts, supporting the overall revenue lift.
Adjusted operating margin expanded to 51.8% year‑over‑year, an increase of 100 basis points. The margin gain reflects a favorable shift toward higher‑margin AI and data‑analytics contracts, coupled with disciplined cost management that offset modest inflationary pressures in support services. The company’s operating leverage continued to improve as revenue scales while fixed costs remain largely unchanged.
For the full year, S&P Global reiterated its revenue growth guidance at 6.3%–8.3% and adjusted diluted EPS guidance at $19.40–$19.65. The guidance was slightly lowered from the prior range to account for foreign‑exchange headwinds, but management maintained confidence in its margin expansion trajectory and the company’s ability to deliver consistent profitability.
Capital allocation remains a priority: the company plans to return 100% or more of adjusted free cash flow to shareholders in 2026 through dividends and share repurchases. The $1 billion share buyback in the quarter demonstrates the firm’s commitment to delivering value to investors.
Strategic initiatives continue to shape the company’s future. A mid‑2026 spin‑off of the Mobility division is on track, allowing S&P Global to focus on its core data and analytics businesses. CEO Martina Cheung highlighted the rapid adoption of AI‑enabled products, while CFO Eric Aboaf reiterated the company’s guidance and confidence in sustaining growth amid macro‑economic headwinds.
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