S&P Global (SPGI) Tops Q4 EPS by 20c, Revenues Beat; Offers FY21 EPS Guidance Above Consensus

February 9, 2021 7:19 AM EST

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S&P Global (NYSE: SPGI) reported Q4 EPS of $2.71, $0.20 better than the analyst estimate of $2.51. Revenue for the quarter came in at $1.87 billion versus the consensus estimate of $1.76 billion.

"The markets turned to our essential intelligence more than ever, during a very tumultuous 2020, as we experienced a significant increase in demand for our benchmarks, data, ratings, and research. Our indices helped inform investors as they navigated complex equity markets. Our ratings helped fixed income investors understand rapidly changing credit quality. Platts benchmarks informed commodity markets regarding drastic changes in oil and LNG prices. S&P Global Market Intelligence provided unique data to help customers quickly understand company-specific and market changes," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. He added, "These very strong financial results in 2020 are a testament to the caliber of our employees who persevered throughout the pandemic to meet, and exceed, the demands of our customers. During 2020 we also showcased our technology expertise with innovative new products like Marketplace, Kensho Scribe, Kensho Link, ProSpread™, RiskGauge, Platts high-speed Market-on-Close, and the S&P Kensho Moonshot Index. With a solid base business and the continued launch of new products I am very encouraged about the future of S&P Global, and the pending merger with IHS Markit will create an even better future."

GUIDANCE:

S&P Global sees FY2021 EPS of $12.25-$12.45, versus the consensus of $11.85.

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 is expected to be in the range of $12.25 to $12.45. Free cash flow excluding certain items is expected to be in a range of $3.3 billion to $3.4 billion.

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



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