S&P Global Revenue Rises 7% to $3.68 Billion as Capital IQ Review Begins
Key Facts
On October 27, S&P Global announced a strategic review of its Capital IQ and data-related businesses, including the possibility of a separation, alongside third-quarter 2026 revenue of $3.68 billion, up 7% year over year. Revenue topped analysts’ estimate of $3.64 billion, according to Investing.com. Adjusted EPS was $4.58, beating the analyst consensus of $4.42 by $0.16. The company said separate ownership could provide these businesses with “dedicated investment and focus” to accelerate innovation and growth. It did not announce a separation decision or a specific outcome of the review.
The businesses under review sit within the Market Intelligence segment and account for most of the Kensho Data & Platforms unit, Investing.com reported, citing the company’s statement. The company said it is reviewing the precise scope of a potential separation, while expecting to retain RatingsDirect, RatingsXpress and enterprise solutions. This places Capital IQ-related assets at the center of the review, while those solutions are expected to remain within the group. Revenue growth of 7% and adjusted EPS growth of 9% offer two measures of the group’s operating performance in the third quarter. The company gave no timetable for completing the review, leaving the scope and timing of any potential separation unresolved.
The announcement followed a September 1 Bloomberg report on options for the Capital IQ Pro platform, including the creation of a separate publicly listed company. The report described the discussions as being at an early stage and said S&P Global might not pursue any of the options. The announced review therefore comes against the backdrop of earlier discussion about the platform’s future, without turning the previous report into a company decision. In its third-quarter results, the company raised its 2026 adjusted EPS guidance to a range of $17.70–$17.95. The midpoint is $17.83, compared with analyst consensus of $17.86, according to Investing.com.
Following the announcement, the company’s shares rose 1.45% in premarket trading, according to Investing.com. The stock closed at $450.65 on October 26, according to EL7 data, the latest close included in the data available here. The move followed revenue topping analyst estimates and adjusted EPS beating consensus in the third quarter. The company scheduled its results announcement for around 7:15 a.m. Eastern Time on October 27, followed by a management call at 8:30 a.m., with a live webcast and archived replay available through its investor relations website. The review of the businesses has no announced timetable, while current 2026 guidance includes a higher range for adjusted EPS.
The Capital IQ review follows an earlier structural move by the group: the separation of the Mobility segment into an independent publicly traded company took effect on July 1, 2026, according to the company’s filing with the U.S. Securities and Exchange Commission. That adds to the backdrop of the group’s portfolio reshaping, while the options in the review of Capital IQ-related businesses remain open. In the previous earnings cycle, S&P Global reported second-quarter results on July 28 and scheduled the management call for 8:30 a.m. Eastern Time, with a live webcast and replay. In the third-quarter announcement, revenue and adjusted EPS topped analyst estimates, alongside an increase in 2026 guidance. The company did not set a date to conclude the Capital IQ review or decide on any potential separation.