UPDATE: S&P Global (SPGI) Tops Q1 EPS by 44c, Revenues Beat; Lowers FY20 EPS Guidance

(Updated - April 28, 2020 7:13 AM EDT)

S&P Global (NYSE: SPGI) reported Q1 EPS of $2.73, $0.44 better than the analyst estimate of $2.29. Revenue for the quarter came in at $1.79 billion versus the consensus estimate of $1.65 billion.

"The world is enduring an unprecedented economic impact from measures to curb the spread of COVID-19. As a result, virtually all of our employees are working from home. I couldn't be more proud of the way that they have responded. Substantially all of our operations have continued uninterrupted and we have increased the magnitude of our research and the scope of our customer outreach," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. "We have also responded to help provide support to customers, hospitals and others in these difficult times."

GUIDANCE:

S&P Global sees FY2020 EPS of $9.95-$10.15, versus the consensus of $9.77.

Outlook:

Due to the uncertainties associated with COVID-19, S&P Global has analyzed several scenarios that are contingent on the depth and duration of the COVID-19 pandemic and its resulting impact on economic and market-specific drivers that may impact the Company's businesses. S&P Global has disclosed three specific scenarios as part of its first quarter 2020 earnings materials, with the "late 3Q recovery" being the baseline scenario at this point in time and the basis for the following revised guidance. GAAP diluted EPS guidance is decreased from a range of $10.00 to $10.20 to a new range of $9.50 to $9.70. Adjusted diluted EPS guidance is decreased from a range of $10.40 to $10.60 to a new range of $9.95 to $10.15.

Additional details for these three scenarios are presented on slides 44-47 of the first quarter 2020 earnings materials which are available at http://investor.spglobal.com/quarterly-earnings.

For earnings history and earnings-related data on S&P Global (SPGI) click here.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Gilead Sciences (GILD) Misses Q1 EPS by 288c
• COPT Defense Properties (CDP) Reports In-Line Q1 EPS; offers guidance
• T-Mobile posts mixed Q1 top and bottom line, expects more subscribers in 2024