By Will Feuer


Shares of S&P Global fell after the credit-ratings and data provider issued a soft earnings outlook for the year.

The stock fell 7% to $429.34. Shares are still up more than 17% over the past 12 months.

The company said Thursday it is targeting 2024 adjusted earnings of $13.75 to $14 a share, below the $14.45 a share analysts expected.

For the fourth quarter, S&P Global's adjusted earnings missed analysts' expectations by two cents, but revenue beat expectations.

"We're currently expecting a soft landing scenario with a base case assumption that we avoid a global recession so we expect geopolitical uncertainty to persist," Chief Executive Doug Peterson said.

He said the transition to renewable energy and higher interest rates will also continue to be factors this year. He added that the timing of interest rate cuts is unpredictable.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

02-08-24 1108ET