S&P Global’s Shares Drop as Company Misses Profit Estimates

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Or sign-in if you have an account.(Bloomberg) — S&P Global Inc. posted quarterly results that fell short of analysts’ average estimate, hurt by factors including the US-Iran War making it harder to boost pricing on contracts for its energy data, news and analysis unit.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe company’s shares fell as much as 7.7% on Tuesday, the biggest intra-day decline since Feb 10. S&P Global’s adjusted earnings per share of $4.83 for the quarter were below the $4.93 average estimate of analysts compiled by Bloomberg. Revenue for the second quarter was around $4.15 billion, up 10% from the same time last year and above estimates of $4 billion.The firm also said it now expects adjusted diluted earnings per share of $17.50 to $17.75 this year, which is below the $18.67 average of analyst estimates compiled by Bloomberg. In the first quarter the company estimated $19.40 to $19.65 for the figure.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againOn a call with analysts, executives said market volatility tied to the US—Iran war posed challenges for the S&P Global Energy division. “The Iran conflict has complicated contract renewals among some very large customers, and we have intentionally chosen to be flexible on price increases and other terms for affected customers during such a challenging time,” said Martina Cheung, S&P Global’s chief executive officer.At the same time, revenue from the firm’s ratings business rose 17% from the same time last year, fueled by the debt financing boom tied to the AI buildout. The company expects $250 billion to $300 billion in debt issuance in 2026 from hyperscalers, or large tech companies expanding their AI capabilities, said Cheung.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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