S&P Global’s SPGI second-quarter 2026 adjusted earnings were $4.83 per share, rising 23% year over year and beating the Zacks Consensus Estimate of $4.49 by 7.6%. Pro-forma revenues of $3.68 billion increased 11% and surpassed the consensus mark of $3.64 billion by 0.8%.
How Is S&P Global Doing?
Mobility spin streamlined S&P Global into four core divisions, while the IHS Markit buyout is persistent in strengthening its indices, data and analytics capabilities, including iBoxx. The targeted buyout remains the center of attraction for the company, that expand proprietary data and benchmark reach.
In July 2026, it agreed to acquire datacenterHawk and a majority stake in Agusto & Company. datacenterHawk will complement 451 Research and energy forecasting assets in the data-center market, while Agusto will expand Ratings in Africa. Management has ruled out transformational M&A, keeping capital deployment concentrated on complementary deals.
In the second quarter of 2026, adjusted operating profit rose 15% year over year, accompanied by its margin expanding 200 basis points (bps) to 54.3%, while adjusted expenses increased 6% versus 11% pro-forma revenue growth.
The Enterprise Data Organization has achieved nearly 60% of its $100-million annualized savings target through AI and other efficiency measures. These savings help management fund much of Market Intelligence’s investment. For 2026, SPGI anticipates an adjusted operating margin expansion of 35-60 bps, or 75-100 bps excluding OSTTRA.
In the first half, the company repurchased shares worth $1.5 billion, including $500 million in the second quarter of 2026. Management raised its 2026 repurchase target by nearly $3 billion to more than $7 billion, while the quarterly dividend remains 97 cents per share. Shares outstanding dipped 3%, supporting second-quarter pro-forma EPS growth. Sustained capital returns should continue to support per-share value creation.
Meanwhile, in the second quarter of 2026, reported expenses gained 5.7% year over year to $2.35 billion, with operating-related expenses rising 4.1%, and selling and general expenses increasing 8.7%.
Adjusted expenses increased 6% compared with 11% pro-forma revenue growth. Management anticipates 2026 adjusted operating margin expansion of 35 to 60 bps, or 75 to 100 bps excluding OSTTRA. Ongoing investment could curb margin expansion if top-line growth slows.
Competition is fierce in credit ratings, market data, benchmarks and analytics domain, with pricing, technology and client retention central to performance. AI is also expanding the range of competing products and delivery models.
Management mentioned that customers are auditing AI budgets, token costs and returns more closely, while some are considering in-house solutions using S&P Global data. If competitors gain workflow share or pricing softens, growth and margins could come under pressure across Market Intelligence and other data-driven businesses.
Earnings Snapshot of Peers
Accenture plc ACN reported impressive results for fourth-quarter fiscal 2026.
ACN's earnings of $3.29 per share beat the Zacks Consensus Estimate of $3.19 by 3.1%. Earnings rose 9% from adjusted earnings of $3.03 in the year-ago quarter. Revenues of $18.7 billion topped the consensus mark of $18.01 billion by 3.8% and increased 6% year over year in U.S. dollars.
FactSet Research Systems FDS posted impressive results for fourth-quarter fiscal 2026.
FDS’s adjusted earnings were $4.52 per share, beating the Zacks Consensus Estimate of $4.32 by 4.6%. The figure increased 11.6% from the year-ago quarter.
Revenues of $634.7 million topped the consensus mark of $628.2 million by 1% and rose 6.3% year over year.
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This article originally published on Zacks Investment Research (zacks.com).