Q2 2026 S&P Global Inc Earnings Call Transcript

Jul 28, 2026 / 12:30PM GMT

Transcript 8-K

Key Points

Positve

S&P Global Inc (SPGI) reported a strong second quarter with 11% total revenue growth, outperforming expectations.
The company achieved a 23% growth in EPS, driven by high incremental margins and disciplined expense management.
S&P Global Inc (SPGI) increased its target share repurchase for 2026 by nearly $3 billion, aiming for over $7 billion in buybacks.
The Ratings division reported a record quarter with a 17% year-over-year revenue increase, benefiting from strong issuance activity.
Indices division achieved its 13th consecutive record quarter for revenue, with a 20% growth driven by asset-linked fees and exchange-traded derivatives.

Negative

The Energy division faced challenges due to the Iran conflict, impacting contract renewals and causing some strain on subscription renewals.
Market Intelligence experienced longer renewal cycles with larger clients, partly due to complex negotiations around AI and IP protection.
Despite strong performance, the Energy division's growth was pressured by sanctions and extreme volatility, affecting Global Trading Services revenue.
Some smaller products within Market Intelligence are facing headwinds, negatively impacting the division's overall growth.
The company noted potential headwinds from market conditions, including interest rate changes and geopolitical conflicts, which could impact future performance.

Operator

Good morning, and welcome to S&P Global's second-quarter 2026 earnings conference call. I'd like to inform you that this call is being recorded for broadcast. (Operator Instructions)

I would now like to introduce Mr. Mark Grant, Senior Vice President of Investor Relations and Treasurer for S&P Global. Sir, you may begin.

Mark Grant

S&P Global Inc - Senior Vice President of Investor Relations and Treasurer

Good morning, and thank you for joining today's S&P Global second-quarter 2026 earnings call. Presenting on today's call are Martina Cheung, President and Chief Executive Officer; and Eric Aboaf, Chief Financial Officer.

We issued a press release with our results earlier today. In addition, we have posted a supplemental slide deck with additional information on our results and guidance. If you need a copy of the release and financial schedules or the supplemental deck, they can be downloaded at investor.spglobal.com.

The matters discussed in today's conference call may contain forward-looking statements within the

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