Why Is S&P Global Stock Sliding Thursday?
Portfolio Pulse from Anusuya Lahiri
S&P Global Inc (NYSE:SPGI) stock fell after reporting Q4 results, with revenue growth of 7% to $3.15 billion, surpassing consensus but adjusted EPS of $3.13 missing expectations. The company saw growth across its segments, with a notable 24% increase in operating profit. Despite this, shares dropped 4.73% in premarket trading. S&P Global also announced a share repurchase program of up to $2.4 billion and provided a FY24 outlook expecting revenue growth and adjusted EPS below consensus.
February 08, 2024 | 6:07 pm
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S&P Global Inc reported Q4 results with higher revenue but missed EPS estimates, announced a significant share repurchase program, and provided a cautious FY24 outlook.
The stock's premarket drop is directly tied to the mixed Q4 results, with the EPS miss likely overshadowing the revenue beat and growth across segments. The announced share repurchase might provide some support, but the cautious FY24 outlook could contribute to investor skepticism in the short term.
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