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S&P Global Inc. (NYSE:SPGI ) Q1 2024 Earnings Conference Call April 25, 2024 8:30 AM ET Company Participants Mark Grant - SVP of IR Doug Peterson - President & CEO Chris Craig - Interim CFO Adam Kansler - President, S&P Global Market Intelligence Martina Cheung - President, S&P Global Ratings Conference Call Participants Toni Kaplan - Morgan Stanley Manav Patnaik - Barclays Heather Balsky - Bank of America Merrill Lynch Faiza Alwy - Deutsche Bank Andrew Steinerman - JPMorgan Alex Kramm - UBS Ashish Sabadra - RBC Capital Markets Jeffrey Silber - BMO Capital Markets Scott Wurtzel - Wolfe Research Shlomo Rosenbaum - Stifel Craig Huber - Huber Research Partners Jeff Meuler - Baird Russell Quelch - Redburn Atlantic George Tong - Goldman Sachs Owen Lau - Oppenheimer Operator Good morning, and welcome to S& P Global's First Quarter 2024 Earnings Conference Call. I'd like to inform you that this call is being recorded for broadcast.

S&P Global (SPGI) first-quarter 2024 earnings and revenues increase year over year.

While the top- and bottom-line numbers for S&P Global (SPGI) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

British business continued to bounce back from last year's technical recession in April, according to S&P Global. Unveiling its Global Flash UK PMI Composite Output Index for April, S&P said business output had expanded at the fastest pace in 11 months.

S&P Global's (SPGI) first-quarter 2024 revenues are likely to have benefited from the growing demand for product offerings, resulting in increased segmental revenues.

S&P Global (SPGI) is banking on its cost synergies, timing and prioritizing of strategic investments.

S&P Global's Ratings business is experiencing a strong recovery, with notable revenue growth in FY22 and accelerated growth in FY23. The company's guidance for FY24 may be conservative, and the Ratings business is expected to deliver strong results in Q1 FY24. The strong growth in debt issuance, driven by M&A activities and demand for debt refinancing, will benefit SPGI's Ratings business.

S&P Global (SPGI) is benefitting from service launches. It is also expanding through acquisitions amid rising expenses and declining liquidity.

February brought an improvement in demand for Britain's construction sector, helping the rate of new business growth reach its fastest since May 2023. At 49.7 in February, S&P Global's UK Construction Purchasing Managers Index (PMI) was up from 48.8 in January.

Blue chip stocks can provide exposure to stable, reliable companies with long-term success. S&P Global is the largest credit rating agency in the U.S. and enjoys a robust competitive advantage.