Welcome to our dedicated page for S&P Global news (Ticker: SPGI), a resource for investors and traders seeking the latest updates and insights on S&P Global stock.
S&P Global Inc. (NYSE: SPGI) is a leading provider of essential financial intelligence, empowering governments, businesses, and individuals with the right data, expertise, and connected technology to make decisions confidently. As the largest of the Big Three credit rating agencies, S&P Global provides a wide array of services including credit ratings, benchmarks, analytics, and workflow solutions that cater to the global capital, commodity, and automotive markets.
S&P Global Ratings is renowned for its financial research and analysis on stocks, bonds, and commodities. This segment remains the largest credit rating agency worldwide and is pivotal to the company’s profitability. Another significant segment, Market Intelligence, offers desktop, data, and advisory solutions, primarily targeting the financial services industry with platforms like Capital IQ Pro. This division was recently bolstered by the acquisition of Visible Alpha, enhancing its investment research and analytics capabilities.
In addition to these core areas, S&P Global encompasses Commodity Insights (including Platts), Mobility (with Carfax), and Indices (featuring the S&P 500® and Dow Jones Industrial Average®). The company's commitment to innovation and market leadership is further demonstrated through its strategic partnerships and acquisitions, such as the integration with CarNow to enhance automotive data analytics and customer engagement.
Recent news highlights include the integration of DigitalOcean Holdings Inc. into the S&P SmallCap 600, the enhanced oil sands production outlook by S&P Global Commodity Insights, and the strategic partnership between automotiveMastermind and CarNow. Moreover, the company's surveys and reports, like the one conducted with AARP on adult caregiving, showcase its role in addressing contemporary societal challenges.
Visit S&P Global for more information on their offerings and insights.
S&P Global (NYSE: SPGI) reported Q1 2023 revenue of $3.16 billion, up 32% year-over-year, driven by IHS Markit inclusion, despite decreases in Ratings revenue. GAAP net income fell 36% to $795 million, and diluted EPS dropped 45% to $2.47, linked to prior year gains and higher shares post-merger. The company launched two new AI-powered Kensho products and returned $790 million to shareholders, including a $500 million accelerated share repurchase, with an additional $1 billion planned. Expected revenue growth for 2023 is 10% to 12%, while non-GAAP adjusted EPS is forecasted between $12.35 to $12.55. However, significant declines in Ratings revenue and operating profit margins are notable concerns.
S&P Global Mobility forecasts U.S. light vehicle sales to hit 1.29 million units in April 2023, marking a 4% increase from April 2022. This figure suggests a sales pace of 15.2 million units SAAR, comparable to Q1 2023. Despite ongoing improvements, sales remain cautious due to factors such as consumer affordability concerns and economic uncertainty. North American production in March 2023 reached 1.45 million units, the highest in 30 months. While BEV sales are estimated at over 7% share, volatility is expected due to federal EV incentives and pricing adjustments. Overall, demand may shift from inventory issues to consumer affordability challenges, impacting new vehicle pricing.
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