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Mar 31
S&P Global Q1 2025 Earnings Report
S&P Global delivered strong revenue and earnings growth in Q1 2025.
Key Takeaways
S&P Global reported solid first quarter results with revenue and net income growth driven by strength in its Ratings and Indices divisions. The company also announced plans to spin off its Mobility division.
Revenue reached a record $3.777 billion, up 8% year-over-year.
Net income rose 10% to $1.090 billion.
Adjusted EPS increased 9% to $4.37.
Announced intent to separate Mobility division into a standalone public company.
S&P Global
S&P Global
S&P Global Revenue by Segment
Forward Guidance
S&P Global provided cautious but positive full-year guidance, with revenue and earnings growth expectations adjusted slightly based on divestiture and operational assumptions.
Positive Outlook
- Revenue growth guidance set between 4%-6% for full-year 2025.
- GAAP EPS guided between $14.60 and $15.10.
- Adjusted EPS expected between $16.75 and $17.25.
- Anticipates closing OSTTRA divestiture to drive margin improvement.
- Continued strong cash return to shareholders (~85% of free cash flow).
Challenges Ahead
- Slightly lower revenue expectations in Ratings and Indices divisions.
- Lowered cash flow expectations compared to previous guidance.
- Higher GAAP corporate unallocated expense due to lease impairments.
- Higher interest expense forecast by ~$10 million.
- Broader EPS guidance range reflecting market variability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income