S&P Global ( NYSE: SPGI ) stock accelerated 2.3% in Thursday morning trading after posting Q4 profit and sales that each surpassed Wall Street expectations as revenue from its Market Intelligence and Commodity Insights businesses showed exceptional Y/Y growth.
The ratings, indices, and market information company, though, saw its earnings decrease from a year before as a tough issuance backdrop continued to weigh on its ratings segment.
Q4 adjusted EPS of $2.54, exceeding the $2.48 average analyst estimate, slid from adjusted pre forma EPS of $2.67 in the year-ago quarter.
Reported revenue of $2.94, vs. $2.88B consensus, climbed from $2.09B a year ago. Adjusted revenue dipped 6% when compared with year-ago adjusted pro forma revenue of $3.14B, and declined 5% on a constant-currency basis.
Expenses mounted to $2.23B from $1.19B in Q4 2021.
Adjusted operating profit of $1.21B declined 12% from year-ago adjusted pro forma operating profit of $1.38B.
Q4 2022 adjusted revenue vs. Q4 2021 pro forma adjusted revenue, by segment:
- Rating revenue of $705M dropped 29%.
- Market Intelligence revenue drifted up 3% to $1.04B.
- Commodity Insights revenue rose 5% to $451M.
- Mobility revenue of $345M gained 9%.
- Indices revenue of $344M advanced 4%.
- Engineered Solutions revenue slipped 4% to $99M.
Earlier, S&P Global Non-GAAP EPS of $2.54 beats by $0.06, revenue of $2.94B beats by $60M .
For further details see:
S&P Global Q4 profit beats thanks to Market Intelligence, Commodity Insights units