S&P GlobalNYSE: SPGI

On October 30, 2024, S&P Dow Jones Indices (S&P DJI) announced the results for the S&P CoreLogic Case-Shiller Indices for August 2024. This key indicator of U.S. home prices showed a 4.2% increase compared to the previous year, which is a small drop from earlier in 2024.

S&P Global (SPGI) is now considered technically oversold, meaning that the intense selling pressure on the stock has likely ended. Additionally, there is a strong consensus among Wall Street analysts to raise their earnings estimates, suggesting that the stock may experience a trend reversal soon.

S&P Global Inc. (NYSE:SPGI) will hold its Q3 2024 Earnings Conference Call on October 24, 2024, at 8:30 AM ET. The call will feature company representatives, including Mark Grant, Doug Peterson, Chris Craig, and Martina Cheung, along with various participants from financial institutions. Please note that this call is being recorded for later broadcast.

While the revenue and earnings per share (EPS) for S&P Global (SPGI) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.

S&P Global (SPGI) reported quarterly earnings of $3.89 per share, which is higher than the Zacks Consensus Estimate of $3.64 per share. This is an increase compared to earnings of $3.21 per share from the same period last year.

In September, factory purchasing activity in North America declined rapidly, showing the weakest demand of the year and indicating a slowing U.S. economy. China's factory procurement also dropped for the third month in a row, worsened by the impact of Typhoon Yagi on suppliers in Southeast Asia, particularly Vietnam. Meanwhile, Europe's industrial recession worsened, leading to a significant rise in spare capacity among suppliers.

S&P Global (SPGI) has a strong track record of surprising with its earnings and currently has the right mix of factors that suggest it may exceed expectations in its upcoming quarterly report.

Suppliers in North America are seeing a significant increase in excess capacity and the weakest demand in eight months, while factory conditions in the U.S. are declining. Asian suppliers, who had growth earlier in 2024, are now facing reduced demand from China. Meanwhile, Europe's manufacturing downturn worsened in August, particularly in Germany and France, while UK manufacturers are operating at nearly full capacity.

S&P Global Inc. (NYSE:SPGI) will be participating in the 22nd Annual Global Financial Services Conference hosted by Barclays on September 9, 2024, at 12:00 PM ET. Martina Cheung, the President of S&P Global Ratings, will represent the company. Manav Patnaik from Barclays will also be part of the conference call.