S&P Global Reports Q1 Results, Raises Revenue Guidance

S&P Global Inc. SPGI reported its first-quarter financial results before the bell Thursday. Here's a look at the highlights. 

The Details:

S&P Global reported quarterly earnings of $4.01 per share which beat the analyst consensus estimate of $3.66 by 9.56% and represents a 27.3% increase over earnings from the same period last year.

Quarterly sales came in at $3.49 billion, beating the analyst consensus estimate of $3.42 billion and representing a 10.47% increase year-over-year.

S&P Global credited strong execution and continued discipline around expense and investment with driving approximately 350 basis points of operating margin expansion on both a GAAP and adjusted basis.

The company also said it expects to execute additional share repurchases totaling approximately $1.3 billion through the third quarter of 2024. 

"S&P Global’s first quarter results are a testament to the value we create for our customers around the world, as well as the strength of our global franchise, our world-class team, and our commitment to innovation," said Douglas Peterson, CEO of S&P Global. 

"We reported record quarterly revenue and significant operating margin expansion, while continuing to invest in strategic initiatives to position us for long-term growth and productivity. These include our strong positions in artificial intelligence with Kensho, sustainability and energy transition, and private markets," added Peterson. 

Outlook: 

S&P Global raised its full-year 2024 revenue outlook from between 5.5% and 7.5% to between 6% and 8%. The company sees full-year adjusted earnings between $13.85 and $14.10 per share , versus the $14.11 estimate. 

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SPGI Price Action: According to Benzinga Pro, S&P Global shares are up 0.11% at $413.72 at the time of publication Thursday.

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