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(Bloomberg) — S&P Global Inc. posted quarterly results that fell short of analysts’ average estimate, hurt by factors including the US-Iran War making it harder to boost pricing on contracts for its energy data, news and analysis unit.
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The company’s shares fell as much as 7.7% on Tuesday, the biggest intra-day decline since Feb 10.
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S&P Global’s adjusted earnings per share of $4.83 for the quarter were below the $4.93 average estimate of analysts compiled by Bloomberg. Revenue for the second quarter was around $4.15 billion, up 10% from the same time last year and above estimates of $4 billion.
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The firm also said it now expects adjusted diluted earnings per share of $17.50 to $17.75 this year, which is below the $18.67 average of analyst estimates compiled by Bloomberg. In the first quarter the company estimated $19.40 to $19.65 for the figure.
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On a call with analysts, executives said market volatility tied to the US—Iran war posed challenges for the S&P Global Energy division.
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“The Iran conflict has complicated contract renewals among some very large customers, and we have intentionally chosen to be flexible on price increases and other terms for affected customers during such a challenging time,” said Martina Cheung, S&P Global’s chief executive officer.
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At the same time, revenue from the firm’s ratings business rose 17% from the same time last year, fueled by the debt financing boom tied to the AI buildout.
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The company expects $250 billion to $300 billion in debt issuance in 2026 from hyperscalers, or large tech companies expanding their AI capabilities, said Cheung.
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