Can SPGI sustain its Q1 2024 momentum?

**S&P Global (SPGI) is likely to sustain its Q1 2024 momentum**, considering the following points: 1. **Strong Financial Performance**: SPGI reported impressive Q1 2024 results, with earnings per share (EPS) of $4.01, surpassing the analyst consensus estimate of $3.66 by 9.56%. Revenue for the quarter was $3.49 billion, beating the analyst consensus estimate of $3.42 billion. 2. **Revenue Growth and Segment Performance**: SPGI's Ratings and Commodity Insights segments showed strong revenue growth, with Ratings revenues growing 29% to $1.1 billion. Commodity Insights revenues increased by 10% to $559 million. Market Intelligence and Mobility segments also experienced growth, with Market Intelligence revenues at $1.1 billion and Mobility revenues at $386 million. 3. **Operating Margin Expansion**: The company reported significant operating margin expansion, with approximately 350 basis points of operating margin expansion on both a GAAP and adjusted basis. This indicates improved operational efficiency and profitability. 4. **Strategic Initiatives**: SPGI is investing in strategic initiatives, including artificial intelligence, sustainability and energy transition, and private markets. These initiatives are likely to position the company for long-term growth and productivity. 5. **Analyst Confidence**: The average analyst estimate for full-year 2024 adjusted EPS is $14.11, with a consensus rating of "Buy". This suggests that analysts are optimistic about SPGI's future performance. 6. **Company Outlook**: SPGI raised its full-year 2024 revenue outlook to between 6% and 8%, with adjusted EPS expected to be between $13.85 and $14.10 per share. This indicates confidence in sustaining its performance for the year. 7. **Share Buybacks and Capital Allocation**: SPGI announced an upcoming stock buyback program, with an additional $1 billion accelerated share repurchase program expected to launch in the coming weeks. This suggests confidence in the company's financial health and potential for sustained growth. In conclusion, SPGI's strong financial performance, revenue growth, operating margin expansion, strategic initiatives, analyst confidence, company outlook, and share buybacks all point to a likely sustainability of its Q1 2024 momentum.