S&P Global Inc. - SPGI STOCK NEWS

S&P Dow Jones Indices reports that U.S. common indicated dividend payments increased by $9.5 billion in Q3 2024, although dividend growth has slowed. Key findings include:

- Q3 2024 dividend increases were $14.1 billion, down 31.1% from Q2 2024 and 21.9% from Q3 2023.
- Q3 2024 dividend decreases were $4.6 billion, up 3.9% from Q2 2024 but down 50.5% from Q3 2023.
- For the 12 months ending September 2024, the net indicated dividend increase was $55.3 billion, compared to $37.5 billion for the prior year.
- S&P 500 Q3 2024 dividend payments set a record at $18.68 per share, up 8.3% year-over-year.

Despite economic uncertainty, dividend growth is expected to continue selectively, with S&P 500 large caps projected to increase dividend payments by 6% in 2024.

S&P 500 Q2 2024 buybacks decreased 0.4% from Q1 2024 to $235.9 billion, but increased 34.9% from Q2 2023. The 12-month expenditure ending June 2024 rose 8.0% to $877.5 billion. Information Technology led buybacks, increasing spending by 19.3%, while Health Care and Communication Services reduced spending. The 1% buyback tax reduced Q2 2024 operating earnings by 0.45% and GAAP earnings by 0.49%. Apple dominated with a record $28.8 billion in Q2 buybacks. Despite increased spending, higher stock prices resulted in fewer shares repurchased, reducing the impact on EPS. Companies with strong cash flows are expected to continue buybacks, with potential increases due to recent interest rate cuts.

Hims & Hers Health (NYSE:HIMS) is set to join the S&P SmallCap 600 index, replacing Vector Group (NYSE:VGR), effective prior to the opening of trading on Wednesday, October 9, 2024. This change is due to JT Group's pending acquisition of Vector Group. The addition of Hims & Hers Health to the index represents a shift in the Health Care sector, while Vector Group's deletion removes a Consumer Staples component.

The S&P SmallCap 600 is part of the S&P Dow Jones Indices, which is the largest global resource for essential index-based concepts, data, and research. S&P Dow Jones Indices, a division of S&P Global (NYSE: SPGI), is known for iconic financial market indicators such as the S&P 500® and the Dow Jones Industrial Average®.

automotiveMastermind, a leading automotive data and technology provider, has unveiled enhancements to its Behavior Prediction Score (BPS) solution and redesigned the Customer Deal Sheet interface. The updates include new machine learning and predictive data algorithms that offer deeper consumer insights. The enhanced BPS introduces three new scores: in-market status, vehicle details, and deal score. These improvements help dealers identify priority customers, preferred vehicles, and potential transaction types.

The redesigned Customer Deal Sheet organizes these new scores with talk tracks in an optimized workflow for sales communication. This update aims to empower sales teams to create timely and effective outreach to prospects most likely to be in the market. The expanded BPS intelligence solution and Customer Deal Sheet are available at no additional cost to all Mastermind customers.

Crescent Energy Co. (NYSE:CRGY) is set to replace Perficient Inc. (NASD:PRFT) in the S&P SmallCap 600 index. This change will take effect prior to the opening of trading on Friday, October 4, 2024. The replacement is due to EQT Group's pending acquisition of Perficient, which is expected to close soon, subject to final conditions.

The index change details are as follows:

• Addition: Crescent Energy (CRGY) to the S&P SmallCap 600, classified under the Energy sector
• Deletion: Perficient (PRFT) from the S&P SmallCap 600, currently classified under the Information Technology sector

This modification in the S&P SmallCap 600 index composition reflects ongoing changes in the market landscape and corporate activities.

S&P Global (NYSE: SPGI) has announced its schedule for the release of third quarter 2024 financial results. The earnings will be issued via news release on Thursday, October 24, 2024, at approximately 7:15 a.m. Eastern Daylight Time. Following the release, a conference call and webcast will be held at 8:30 a.m. EDT on the same day.

The call will be hosted by key executives including Douglas L. Peterson (President and CEO), Christopher Craig (Interim CFO), Mark Grant (Senior VP, Investor Relations), and Martina Cheung (President of S&P Global Ratings). Notably, Ms. Cheung has been appointed as the new President and CEO of S&P Global, effective November 1, 2024.

S&P Global Mobility expects U.S. light vehicle sales in September to decline by approximately 12% year-over-year to 1.18 million units. However, this translates to a seasonally adjusted rate (SAAR) of 16.0 million units, up from 15.2 million in August. The auto demand environment remains consistent but unmotivated due to high interest rates and vehicle prices.

Dealer advertised inventory has leveled out since spring, reaching 2.88 million units at the end of August. With 2025 model year vehicles becoming more available, pressure to sell remaining 2024 stock will increase. S&P Global Mobility has lowered its 2024 U.S. sales outlook to 15.9 million units and North American production outlook to 15.5 million units.

Battery-electric vehicle (BEV) sales continue to show strong development, with share of sales above 8% in June and July. New BEV models like the Chevrolet Equinox EV and Honda Prologue are expected to drive further growth in the fourth quarter.

S&P Global Commodity Insights, through its Platts division, is launching the world's first daily carbon-accounted iron ore price assessments on September 30, 2024. This new offering includes:

• A daily carbon-accounted iron ore assessment incorporating the Platts global benchmark 62% Fe iron ore index (IODEX)
• A carbon intensity premium reflecting the cost of offsetting greenhouse gas emissions in mining and transportation
• Carbon intensity estimates for the iron ore supply chain

The launch aims to support the steel industry's decarbonization efforts and meet evolving regulatory requirements. This initiative complements Platts' existing Carbon-Accounted Steel Premium (CASP) offerings and addresses the significant carbon footprint of iron and steel production, which accounts for nearly 7% of global greenhouse gas emissions.

S&P Global (NYSE: SPGI) has announced its fourth quarter dividend for 2024. The Board of Directors approved a cash dividend of $0.91 per share, payable on December 11, 2024, to shareholders of record on November 26, 2024. This brings the annualized dividend rate to $3.64 per share. S&P Global has maintained a consistent dividend payment record since 1937 and is among the select few companies in the S&P 500® that have increased their dividend annually for over 50 years.