S&P Global Inc. reports company news across data, benchmarks and analytics for capital, commodity and automotive markets. Coverage includes its credit ratings and market intelligence businesses, S&P Global Energy and Platts price assessments, and S&P Global Mobility products such as CARFAX vehicle history reports, listings, car care tools and recall data.
Recurring updates also include investor conference appearances, product and data launches, board and governance changes, and corporate-status developments involving the Mobility division.
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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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S&P Global Market Intelligence has acquired the historical Asia Pacific (APAC) transcript database, excluding Japan, from SCRIPTS Asia Inc. This strategic move broadens S&P's coverage of corporate events for over 3,200 companies in the APAC region, responding to increasing demand from investors. The newly acquired Mandarin, Cantonese, and Korean transcripts will be accessible via S&P’s platforms, including Capital IQ Pro and Snowflake. Alongside this acquisition, S&P will maintain a long-term agreement with SCRIPTS Asia K.K. for ongoing coverage of Japanese events. This development enriches S&P's capabilities in data translation and transcription, enhancing their competitive edge in the rapidly evolving natural language processing market.
S&P Global (NYSE: SPGI) released its Look Forward: Private Markets research highlighting the growing significance of private markets in the financial sector. The report notes that private equity and venture capital-backed M&A investments peaked at over $600 billion in 2021, maintaining over $400 billion in 2022 despite a 35% decrease. Private equity was pivotal in seven of the ten largest IT M&A deals in North America last year. Furthermore, $260 billion was raised for private equity funds aimed at supporting energy transitions. The research underscores the importance of understanding private markets for future business strategies amidst changing economic conditions.
On April 17, 2023, S&P Dow Jones Indices updated its domicile eligibility criteria for the U.S. Indices and Dow Jones U.S. Total Stock Market Indices methodologies. The change enhances transparency without altering domicile status for existing U.S. companies. The updated criteria specify that eligible U.S. companies must adhere to U.S. Securities Exchange Act reporting obligations, possess a significant U.S. presence in fixed assets and revenues, and have their primary listing on an eligible U.S. exchange. This clarification aims at ensuring consistent application of the domicile rules. The definition of a U.S. company can still include those with a “domicile of convenience” for tax reasons if their primary listing and operational headquarters are in the U.S. For further details, visit www.spglobal.com/spdji.