UPDATE: S&P Global (SPGI) Q2 EPS Tops Consensus, Revenues Beat; Raises FY19 EPS Guidance Above Consensus
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(Updated - August 1, 2019 10:39 AM EDT)
S&P Global (NYSE: SPGI) reported Q2 EPS of $2.43, better than the analyst estimate of $2.28. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.65 billion.
"We are particularly pleased with our second quarter results as all four divisions delivered revenue growth and margin improvement," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. "Our new product initiatives advanced as our Ratings business recently published its first ratings in the domestic Chinese bond market and its first Ratings ESG Evaluations. S&P Dow Jones Indices launched ESG versions of 22 well-known regional benchmarks and two of its headline indices, the S&P 500 and Dow Jones Industrial Average, were part of a very successful Micro E-mini futures launch. This is an exciting time for the Company with so many growth opportunities."
S&P Global sees FY2019 EPS of $9.10-$9.25, versus the consensus of $9.08.
The Company's 2019 GAAP diluted EPS guidance is increased from a range of $8.16 to $8.36 to a new range of $8.20 to $8.35 to reflect lower corporate unallocated expense, interest expense and the tax rate as well as the restructuring and lease impairment charges incurred this quarter. Adjusted diluted EPS guidance is increased from a range of $8.95 to $9.15 to a new range of $9.10 to $9.25.
(Update corrects for adjusted EPS of $2.43)
For earnings history and earnings-related data on S&P Global (SPGI) click here.
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