Loading...
Loading...
- S&P Global Inc SPGI reported second-quarter FY21 revenue growth of 8% year-on-year to $2.1 billion, beating the analyst consensus of $1.99 billion.
- Revenues from Ratings' increased 7% Y/Y to $1.1 billion, S&P Dow Jones Indices rose 16% Y/Y to $278 million, Market Intelligence climbed 8% Y/Y to $555 million, and Platts grew 9% Y/Y to $236 million.
- Adjusted operating profit margin decreased 40 basis points to 58.3% primarily due to a challenging expense compared to Q2 2020 and increased compensation-related expenses in 2021.
- Non-GAAP EPS of $3.62 beat the analyst consensus of $3.24.
- S&P generated $1.7 billion in operating cash flow in the six months ended Jun. 30 and held $5.2 billion in cash and equivalents. It returned $185 million in dividends.
- Normalizing markets, reopening of economies, rising employment, and recovering GDP are likely to bode well for S&P Global as it continues to provide clients with an ever-increasing array of ratings, benchmarks, data, and analytics, CEO Douglas L. Peterson stated.
- S&P Global and IHS Markit Ltd INFO continue to progress with merger integration planning.
- Outlook: S&P expects its FY21 reported revenue to increase to high single-digits compared to the analyst consensus of $7.93 billion.
- It raised the adjusted EPS guidance by $0.40 to $12.95 - $13.15, versus the analyst consensus of $12.79.
- Price action: SPGI shares traded higher by 2.74% at $422.89 on the last check Thursday.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in