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S&P Global (SPGI) Q1 Earnings & Revenues Beat Estimates

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S&P Global Inc. (SPGI - Free Report) has reported impressive first-quarter results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.

SPGI’s adjusted EPS (excluding 85 cents from non-recurring items) of $4 surpassed the Zacks Consensus Estimate by 9% and increased 27.3% year over year. Revenues of $3.5 billion beat the consensus estimate by 2.9% and improved 10.5% year over year.

The stock has gained 18.7% in the past six months, outperforming 15.6% growth of the industry it belongs to.

S&P Global Inc. Price and EPS Surprise


S&P Global Inc. Price and EPS Surprise

S&P Global Inc. price-eps-surprise | S&P Global Inc. Quote

Quarterly Details

Revenues from Marketing Intelligence were $1.1 billion, which increased 7% from the year-ago reported figure and met our estimate. Ratings revenues grew 29% to $1.1 billion and exceeded our estimate of $880.4 million. Revenues from Commodity Insights were $559 million, up 10% from the year-ago quarter and surpassing our estimate of $551.6 million.

Revenues from the Mobility and Indices segment saw year-over-year increases of 8% and 14% to $386 million and $387 million, respectively. Mobility revenues missed our estimate of $427.9 million, while Indices revenues surpassed our estimate of $364.4 million.

Adjusted operating profit was $1.7 billion, up 19% year over year. The adjusted operating profit margin was 50%, 400 basis points more than the year-ago reported figure.

Balance Sheet & Cash Flow

S&P Global exited the first quarter with cash, cash equivalents and restricted cash of $1.5 billion compared with $1.3 billion at the end of the prior quarter. The long-term debt was $11.4 billion, flat with the previous quarter.

SPGI generated $948 million in cash from operating activities in the quarter. Capital expenditure was $24 million. The free cash flow was $851 million. The company returned $286 million in the form of dividends.

2024 Outlook

Adjusted EPS is expected to be $13.85-$14.10 compared with the $13.75-$14.00 mentioned previously. The Zacks Consensus Estimate for the same is pegged at $14.12. Revenue growth is expected to be 6-8% compared with the 5.5-7.5% stated earlier. Capital expenditure is expected to be $185-$195 million compared with the $165-$175 million mentioned previously.

Currently, S&P Global carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Earnings Snapshot

Omnicom Group Inc. (OMC - Free Report) reported impressive first-quarter 2024 results.

OMC’s earnings of $1.67 per share beat the consensus estimate by 9.9% and increased 7.1% year over year. Total revenues of $3.6 billion surpassed the consensus estimate by 1.6% and rose 5.4% year over year.

ICF International, Inc. (ICFI - Free Report) reported mixed fourth-quarter 2023 results.

ICFI’s quarterly earnings (excluding 52 cents from non-recurring items) per share of $1.68 beat the Zacks Consensus Estimate by 2.4% and gained 7.7% from the year-ago reported figure. Total revenues of $478.4 million missed the Zacks Consensus Estimate by a slight margin but increased 0.6% year over year.

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