S&P Global (SPGI) Tops Q1 EPS by 36c, Revenues Beat; Raises FY21 EPS Guidance Above Consensus

S&P Global (NYSE: SPGI) reported Q1 EPS of $3.39, $0.36 better than the analyst estimate of $3.03. Revenue for the quarter came in at $2.02 billion versus the consensus estimate of $1.93 billion.

"Since the beginning of the pandemic, the essential nature of our products has demonstrated the resiliency of our business model. As the global economy recovers, we continue to launch innovative new products to help our customers with the ratings, benchmarks, data, and insights they need to navigate the changing markets," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. "As to the pending merger with IHS Markit, the shareholders of both companies overwhelmingly approved the transaction and we continue to work with global regulators in anticipation of closing the merger in the second half of 2021."

GUIDANCE:

S&P Global sees FY2021 EPS of $12.55-$12.75, versus the consensus of $12.43.

The Company is not providing 2021 GAAP guidance because given the inherent uncertainty around the merger, management cannot reliably predict all of the necessary components of GAAP measures. The Company is providing adjusted guidance on a stand-alone basis that excludes anticipated merger expenses, the potential revenue and expense impact from consolidating IHS Markit following the merger, and amortization of intangibles related to acquisitions. 2021 reported revenue is expected to increase mid single-digits. Adjusted diluted EPS guidance has been increased by $0.30 to a new range of $12.55 to $12.75. Guidance for free cash flow excluding certain items has also been increased to a new range of $3.4 billion to $3.5 billion.

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

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