S&P Global Revenue Increased 13% in the First Quarter with Growth Across All Four Divisions

S&P Global (NYSE: SPGI) today reported first quarter 2021 results with revenue of $2,016 million, an increase of 13% compared to the same period last year. Net income increased 18% to $755 million and diluted earnings per share increased 19% to $3.12 primarily due to revenue growth in every segment and productivity programs and lower T&E across the Company.

Adjusted net income increased 23% to $820 million and adjusted diluted earnings per share increased 24% to $3.39. The largest adjustments in the first quarter of 2021 were for costs related to the pending merger with IHS Markit and deal-related amortization related to previous acquisitions.

“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.”

Profit Margin: The Company’s operating profit margin increased 260 basis points to 53.6% primarily due to strong operating results partially offset by costs related to the pending merger with IHS Markit. Adjusted operating profit margin increased 450 basis points to 57.6% primarily due to strong operating results.

Return of Capital: During the first quarter, the Company returned $186 million to shareholders in dividends. There were no share repurchases during the quarter due to the pending merger with IHS Markit.
more at: https://investor.spglobal.com/news-releases/news-details/2021/SP-Global-Revenue-Increased-13-in-the-First-Quarter-with-Growth-Across-All-Four-Divisions/default.aspx

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