U.S. manufacturers front-load inventories in anticipation of further tariffs North American factories remain underutilized, with persistent weakness in Mexico and Canada Europe inches toward industrial recovery, while U.K. downturn deepens CLARK, N.J., June 12, 2025 /PRNewswire/ -- GEP Global Supply Chain Volatility Index — a leading indicator tracking demand conditions, shortages, transportation costs, inventories, and backlogs based on a monthly survey of 27,000 businesses — fell to -0.46 in May, from ...

*Note: California's figures are a recent monthly average of expired tags provided to CARFAX by the California Department of Motor Vehicles (DMV). Some states have penalties that can run up to hundreds or even thousands of dollars. In some instances, drivers can face jail time for repeat offenses, including in New York state, Florida, Washington, and Georgia, according to their DMV sites. For example, in California, the Department of Motor Vehicles (DMV) says that if a vehicle's registration has been expired ...

Group 1 - The company is undergoing a significant transition with the recent appointment of Martina Cheung as CEO, who has a strong background in various senior leadership roles within the organization [3][4] - The CEO has announced the spin-off of the Mobility division, indicating a strategic shift in the company's focus and operations [3] - There is a strong emphasis on building and maintaining trusted relationships with clients globally, which is seen as a key driver for future growth [4] Group 2 - The company is experiencing considerable policy and macroeconomic volatility, which presents both challenges and opportunities for strategic decision-making [3] - The CEO expresses optimism about the company's growth potential across its divisions and the overall enterprise, highlighting the excitement generated from customer interactions and feedback [4]

A month has gone by since the last earnings report for S&P Global (SPGI) . Shares have added about 2.3% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is S&P Global due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.How Have Estimates Been Moving Since Then?It turns out ...

Financial Data and Key Metrics Changes - The company has experienced a stable revenue environment, with most revenues being recurring and insulated from short-term volatility [12][13] - The guidance for the ratings business reflects expected ups and downs due to market volatility, with a flat year-over-year build in issuance anticipated [23][25] Business Line Data and Key Metrics Changes - The mobility division is being spun off, which had shown 8.4% growth last year with a 39% margin, indicating strong performance [15][17] - Private credit revenues have grown strongly, with a reported 21% growth in enterprise private markets revenues in the current year [28] Market Data and Key Metrics Changes - The global debt markets are experiencing volatility, but the company has a solid foundation for understanding investor behavior, which informs their guidance [22][23] - The company anticipates a flat M&A environment, with pent-up demand expected to manifest in future years [25] Company Strategy and Development Direction - The company is focusing on integrating data teams and applying generative AI to enhance capabilities across divisions, aiming for accelerated growth [6][10] - The strategic growth themes include private markets and generative AI, with more details expected at the upcoming Investor Day [11] Management's Comments on Operating Environment and Future Outlook - Management has noted reasonable stability in customer behavior and robust pipelines across divisions, indicating a positive outlook despite macro volatility [12][13] - The company is committed to a disciplined approach to capital allocation, maintaining an 85% guideline for capital return to shareholders [72][73] Other Important Information - The mobility business is viewed as better suited to operate as a standalone entity, with limited synergies expected post-spin [18][20] - The integration of generative AI is seen as a significant opportunity for operational efficiency and margin improvement across the organization [61][63] Q&A Session Summary Question: What is the vision for S&P Global over the next three to five years? - The company aims to leverage its comprehensive market coverage and capabilities in benchmarks, analytics, and data to deliver value and accelerate growth [9][10] Question: Are there any areas of the business experiencing revenue pressures? - Most revenues are recurring and stable, with no major changes in customer behavior observed so far [12][13] Question: What is the rationale behind the mobility spin-off? - The mobility division serves a distinct customer base and is expected to perform better as an independent entity, allowing for greater focus and growth opportunities [17][20] Question: How is the company addressing the impact of AI on its market intelligence platform? - The company is integrating generative AI across the organization, focusing on enhancing capabilities and operational efficiencies [46][55] Question: What are the expectations for margin improvement in the market intelligence business? - The company anticipates margin improvements driven by generative AI integration and disciplined execution [63][64]

NEW YORK, May 27, 2025 /PRNewswire/ -- S&P Dow Jones Indices (S&P DJI) today released the March 2025 results for the S&P CoreLogic Case-Shiller Indices. The leading measure of U.S. home prices recorded a 3.4% annual gain in March 2025, a slight decrease from the previous reading in February 2025. More than 27 years of history are available for the data series and can be accessed in full by going to https://www.spglobal.com/spdji/en/index-family/indicators/sp-corelogic-case-shiller/.YEAR-OVER-YEARThe S&P Cor ...

S&P Global (SPGI) FY 2025 Annual General Meeting May 07, 2025 12:00 PM ET Speaker0 Good morning, and welcome to S and P Global's twenty twenty five Annual Shareholders Meeting. I'd like to inform you that this meeting is being webcast. All participants are in a listen only mode. The meeting is being recorded and will be available for replay forty eight hours after the end of this meeting from S and P Global's website. To access the virtual annual meeting, including the webcast and slides, go to www.smpgloba ...

Annual Shareholders Meeting Unlocking Potential, Together May 7, 2025 Richard E. Thornburgh Chairman Martina Cheung President and CEO Tasha Matharu Deputy General Counsel & Corporate Secretary Tasha Matharu Deputy General Counsel & Corporate Secretary 2 2 2025 Annual Shareholders Meeting Rules of Conduct To submit questions during the Annual Meeting, please log in to the meeting as a shareholder using your 15-digit control number and follow the instructions. https://meetnow.global/MTWC7R7 3 –Shareholders ar ...

Revenue and Profitability - Revenue for the three months ended March 31, 2025, increased by 8% to $3,777 million compared to $3,491 million in 2024[116] - Operating profit rose by 14% to $1,578 million, with an operating margin of 42% compared to 40% in the previous year[116] - Diluted earnings per share increased by 12% to $3.54 from $3.16 in 2024[116] - The increase in revenue was driven by growth across all reportable segments, particularly in Ratings due to higher structured finance revenue and increased issuance volumes in U.S. Public Finance[119] - Segment operating profit increased by 14% to $1,633 million in 2025, compared to $1,436 million in 2024[141] - Market Intelligence segment revenue grew by 5% to $1,199 million, with subscription revenue also increasing by 5% to $993 million[156] - Commodity Insights revenue increased by 9% to $612 million, driven by demand for market data and insights products[171] - Mobility revenue rose by 9% to $420 million, with subscription revenue increasing by 10% to $343 million[175] - Operating profit for Mobility increased by 22% to $86 million, primarily due to revenue growth[175] Revenue Composition - Subscription revenue accounted for 50% of total revenue, totaling $1,898 million, while non-subscription/transaction revenue was $850 million, representing 22% of total revenue[129] - Transaction revenue increased by 7% to $620 million, while non-transaction revenue rose by 10% to $529 million[161] - U.S. revenue grew by 12% to $683 million, while international revenue increased by 3% to $466 million[161] - Total billed issuance for the first quarter was $1,083 billion, a 9% increase from $993 billion in 2024[165] - Asset-linked fees increased by 18% to $288 million, while subscription revenue grew by 7% to $76 million[182] - U.S. revenue rose 14% to $361 million, and international revenue increased by 18% to $84 million[182] Expenses and Cash Flow - Total expenses increased by 5% to $2,210 million, with operating-related expenses rising by 4% to $1,153 million[128] - Operating-related expenses increased by 4%, primarily due to higher compensation costs from annual merit increases and additional headcount[135] - Selling and general expenses rose by 7%, with a 10% increase when excluding IHS Markit merger costs, driven by higher compensation costs and strategic initiatives[136] - Free cash flow decreased by 4% to $816 million compared to $851 million in the first three months of 2024[206] - Cash used for investing activities increased to $79 million in Q1 2025 from $20 million in Q1 2024[187] - Cash used for financing activities rose by 68% to $1,103 million in Q1 2025, primarily due to increased share repurchases[187] - The company purchased 1.0 million shares for $650 million in Q1 2025, compared to $500 million for the same number of shares in Q1 2024[193] Financial Position and Taxation - As of March 31, 2025, cash, cash equivalents, and restricted cash totaled $1,469 million, a decrease of $197 million from December 31, 2024[186] - The company maintains a strong financial position with sufficient cash flows to meet operational needs and ongoing investments[185] - The effective income tax rate increased to 21.7% in 2025 from 18.8% in 2024, primarily due to a change in the mix of income by jurisdiction[150] Strategic Initiatives and Market Conditions - The Mobility segment is set to be spun off into a new publicly traded company, expected to be completed within 12 to 18 months[115] - The company anticipates a pre-tax gain of $220 million from the sale of the OSTTRA joint venture, expected to close in the second half of 2025[146] - The company entered into an agreement to acquire ORBCOMM's AIS data services business, expected to close in 2025, enhancing maritime visibility[153] - The company is focused on the anticipated separation of its Mobility segment into a standalone public company, which may affect its operational synergies and overall value[212] Risks and Regulatory Environment - The company anticipates potential impacts from worldwide economic conditions, including slower GDP growth and inflation, which could affect its future results[210] - The company is exposed to market risks related to changes in foreign exchange rates and interest rates, with operations in foreign countries where local currencies are used[213] - The company has entered into foreign exchange forward contracts to mitigate adverse fluctuations in foreign exchange rates as of March 31, 2025, and December 31, 2024[213] - The company acknowledges the potential impact of competitive products, including those utilizing generative artificial intelligence, on its market position[210] - The company is actively monitoring the evolving regulatory environment, which could affect its business operations and compliance requirements[210] - The company cautions against placing undue reliance on forward-looking statements due to inherent risks and uncertainties in the business environment[211] Accounting and Estimates - The company has not experienced any material changes to its critical accounting estimates since the last Form 10-K, which include revenue recognition and valuation of long-lived assets[207] - The company has not entered into any derivative financial instruments for speculative purposes, maintaining a conservative approach to risk management[213] - The company emphasizes the importance of maintaining adequate safeguards to protect confidential information and data, which is critical for its operations[210]

Financial Data and Key Metrics Changes - Total revenue increased by 8% year over year, with subscription product revenue growing by 7% [7][24] - Adjusted diluted EPS grew by 9%, and there was a year-over-year margin expansion of 240 basis points [7][24] - The company returned over $900 million to shareholders through dividends and repurchases in the first quarter [7] Business Line Data and Key Metrics Changes - Market Intelligence revenue increased by 5%, with data analytics and insights products growing by 74% year over year [37] - Ratings revenue grew by 8%, with transaction revenue increasing by 7% and non-transaction revenue rising by 10% [40][41] - Commodity Insights revenue increased by 9%, driven by strong growth in Energy and Resource Data and Insight [42] - Mobility revenue rose by 9%, with dealer revenue increasing by 11% [45] Market Data and Key Metrics Changes - Build issuance increased by 9% year over year, driven by structured finance and bank loans [10] - Active users across Capital IQ platforms, Platts Connect, and Automotive Mastermind increased by 23% year over year [12] - The company expects build issuance to be flat year over year, down from initial expectations of low single-digit growth [20] Company Strategy and Development Direction - The company plans to separate its Mobility division into a standalone public company, expected to be completed in 12 to 18 months [8][25] - Focus on innovation in data benchmarks and artificial intelligence, with new products launched in various divisions [22][23] - The company aims to enhance strategic focus and maximize shareholder value through the separation [25][28] Management's Comments on Operating Environment and Future Outlook - Management noted unpredictable market movements, geopolitical risks, and fluid regulatory landscapes impacting business [12][18] - There is optimism for long-term growth despite near-term headwinds, with recurring revenue accounting for approximately 75% of total revenue [15][19] - The company expects lower global GDP growth and higher inflation than previously forecasted [19] Other Important Information - The company plans to host an Investor Day in November to provide updates on the separation and multiyear strategy [10][28] - The company has seen significant growth in the user base of CARFAX Car Care, now serving over 46 million consumers [29] Q&A Session Summary Question: Timing and implications of the Mobility announcement - Management indicated that the decision was based on a thorough assessment and is expected to create long-term shareholder value [56][58] Question: Confidence in Market Intelligence revenue acceleration - Management expressed confidence due to stable retention rates and a strong sales pipeline, expecting stronger performance in the second half of the year [62][64] Question: Expense management levers - Management discussed monitoring headcount, incentive compensation, and third-party spending as key levers for managing expenses [67][68] Question: Issuance guidance and market conditions - Management expects build issuance to be flat for the year, with potential for opportunistic issuance in the second half [72][76] Question: Share count and M&A ambitions - Management confirmed no plans for transformative M&A, focusing instead on high-quality organic growth opportunities [80] Question: Performance of private credit ratings - Management noted strong demand for ratings in private credit, but tempered expectations for growth in the remainder of the year due to tough comparisons [86][87]