S&P Global Shares Climb as Demand for Indices and AI Data Expands

S&P Global shares gained 12.7% over the past three months, outpacing a 4% decline in the Zacks S&P 500 Composite while trailing the industry's 13.7% increase. Driving this performance was sustained momentum across benchmark data, trading expansion, and emerging customer appetite for artificial intelligence offerings.

For the third quarter of 2026, the company achieved total top-line gains of 7%, with the same rate seen on an organic constant-currency calculation. Operating profitability adjusted for specific items widened by 60 basis points to 53.5%, helping adjusted operating profit advance 8% and adjusted earnings per share climb 9%. The Indices division delivered a 20% year-over-year revenue gain, marking its 14th straight quarter of record performance.

Demand for exchange-traded derivatives increased 19%, helped by active trading, while assets under management for exchange-traded funds tied to the company reached $6.5 trillion. In other recurring segments, enterprise-wide recurring revenue rose 8%, benchmark recurring revenue expanded 7%, and Energy division receipts grew 6%. Within Market Intelligence and Energy, third-quarter annual contract value expansion among AI users ran 1.8 times and roughly three times faster, respectively, than among non-AI clients.

Management also started a strategic review on October 27 exploring alternatives, including a potential separation, for Capital IQ and associated data operations such as Kensho Data and Platforms. The units encompass over 15,000 clients and 355,000 users. Meanwhile, RatingsDirect, RatingsXpress, and Enterprise Solutions are planned to stay within the corporation, with an update expected during the February 2027 earnings call.

Following third-quarter execution, leadership boosted its 2026 organic constant-currency revenue growth projection to 7.5% to 8.5%, compared to 6% to 8% previously. S&P Global also lifted its target for adjusted operating-margin expansion to 75 to 100 basis points and guided adjusted earnings per share to between 17.70 and 17.95 US dollars, up from the prior band of 17.50 to 17.75 US dollars.