Key Highlights

  • S&P Global (NYSE:SPGI) reports before the open on Tuesday, October 27, 2026, with consensus adjusted earnings of USD 4.42 per share, excluding Mobility, after second-quarter adjusted earnings rose 23% to USD 4.83.
  • TransUnion (NYSE:TRU) reports before the open the same day, with consensus adjusted earnings of USD 1.21 per share equal to the top of its USD 1.18 to USD 1.21 guided range.
  • CoStar Group (NASDAQ:CSGP) reports after the close, with consensus adjusted earnings of USD 0.34 per share at the top of its USD 0.31 to USD 0.34 range and residential margins in focus.
  • All three sell data into credit and property markets, so lending volumes, bond issuance and the Federal Reserve decision on Wednesday, October 28, 2026 set the tone for the group.

S&P Global (NYSE:SPGI): a seasonally lower bar after a strong quarter

S&P Global (NYSE:SPGI), which combines credit ratings, market data and analytics, benchmark indices and commodity price assessments, reports third-quarter 2026 results before the open on Tuesday, October 27, 2026. Consensus adjusted earnings are USD 4.42 per share, excluding the Mobility business spun off on Wednesday, July 1, 2026. In the second quarter, reported on Tuesday, July 28, 2026, revenue was USD 4.146 billion, up 10%, and adjusted earnings were USD 4.83, up 23%, with an adjusted operating margin of 54.3%. Full-year adjusted earnings guidance is USD 17.50 to USD 17.75, and four times the consensus is USD 17.68. Results cannot be known in advance.

The business combines recurring subscription income, which changes slowly, with transaction income tied to debt issuance, which changes quickly. When companies refinance or borrow more, the ratings unit earns fees on each bond rated, and that income carries a high margin. Indices add asset-linked fees, which rise with the value of assets tracked by index funds. Ratings revenue rose 17% and Indices revenue 20% in the second quarter. S&P Global therefore benefits from busy credit markets and firm equity prices, and it suffers when issuance stalls.

The bull case is adjusted earnings above USD 4.42 per share, a margin near 54.3% and a raised or narrowed full-year range. The bear case is slower issuance, Market Intelligence growth below its 6% pace or cost growth that outpaces revenue. A guidance cut would be read more harshly than a small miss. Moody's (NYSE:MCO) reports later in the season and offers a read-across on issuance.

TransUnion (NYSE:TRU): consensus at the top of guidance

TransUnion (NYSE:TRU) is a credit reporting and analytics company, and it reports third-quarter results before the open on Tuesday, October 27, 2026. Consensus adjusted earnings are USD 1.21 per share. In its release of Tuesday, July 28, 2026, the company reported second-quarter revenue of USD 1,309.6 million, up 15% and 10% on an organic constant currency basis. For the third quarter it guided revenue to USD 1,292 million to USD 1,310 million and adjusted earnings to USD 1.18 to USD 1.21 per share. Full-year adjusted earnings guidance was raised to USD 4.75 to USD 4.83.

TransUnion sells credit files and risk scores to lenders, so revenue follows lending volumes and pricing. In the second quarter the Financial Services unit grew 18% to USD 496 million, while Consumer Interactive fell 3% to USD 142 million. International revenue rose 27% reported but only 6% on an organic constant currency basis. The adjusted EBITDA margin eased from 35.7% to 34.8%, and the third-quarter guide of 35.2% to 35.4% assumes recovery, so acquisitions and currency explain much of the reported international gain.

The bull case is revenue at or above USD 1,310 million and a further lift to the full-year range, extending a recovery in which the shares gained about 8% after the July report. The bear case is adjusted earnings of USD 1.19 or less or a margin below 35%. With consensus at the top of the range, a result in line with guidance may not satisfy.

CoStar Group (NASDAQ:CSGP): the residential margin test

CoStar Group (NASDAQ:CSGP), the provider of commercial property data and the owner of the Apartments.com and Homes.com portals, reports third-quarter 2026 results after the close on Tuesday, October 27, 2026. Consensus adjusted earnings are USD 0.34 per share against guidance of USD 0.31 to USD 0.34. Second-quarter adjusted earnings were USD 0.32 per share, revenue was USD 925 million, up 18%, and adjusted EBITDA was USD 184 million against USD 85 million a year earlier. Third-quarter revenue is guided to USD 935 million to USD 945 million. Results cannot be known in advance.

CoStar earns subscription fees from commercial property data and rental listing advertising, and the investment case turns on how fast the residential segment stops consuming cash. Residential revenue was USD 444 million against USD 335 million, and its adjusted EBITDA reached USD 12 million after a loss of USD 76 million a year earlier. The company said it cut its projected expense base by about USD 100 million against original guidance. Full-year guidance is adjusted EBITDA of USD 780 million to USD 820 million, and net new bookings of USD 69 million, up 3% from the first quarter, show whether subscriptions keep growing.

The bull case is adjusted earnings at or above USD 0.34 and a full-year outlook lifted toward the top of that EBITDA range. The bear case is adjusted earnings of USD 0.31 or less, slower bookings or renewed residential spending, which would test a stock that fell after hours following the July report. Higher borrowing costs after the September 16 Federal Reserve increase also weigh on valuation.

Where Things Stand

The answer is that the three face lending and property cycles through different channels, and each needs margin evidence more than a beat on the reported figure. S&P Global (NYSE:SPGI) needs adjusted earnings of at least USD 4.42 per share and a full-year range of USD 17.50 to USD 17.75 that holds. TransUnion (NYSE:TRU) must deliver beyond a USD 1.21 consensus that already equals the top of its range, with a margin near 35.3%. CoStar Group (NASDAQ:CSGP) can reach USD 0.34 only if the residential recovery continues.

The next catalysts are the S&P Global and TransUnion releases before the open on Tuesday, October 27, 2026, the CoStar release after the close that day, the Federal Reserve decision on Wednesday, October 28, 2026 and later results from Moody's. Estimates and guidance are not guarantees, and this is not investment advice.