*Reported Revenue Increased 18%; Adjusted Pro Forma Revenue Increased 2%
*Diluted EPS Increased 43% to $4.47; Adjusted Diluted EPS Increased 0.3% to $2.89
*Reported Operating Profit Margin Increased 2,560 Basis Points to 79.2%
*Adjusted Pro Forma Operating Profit Margin Decreased 340 Basis Points to 45.2%
*Revenue Growth was Driven by Strength Across Five of Six Divisions, Offset by a Sharp Decline in Revenue Related to Debt Issuance
*Company is Updating GAAP Guidance and Adjusted Guidance
*Merger-Related Divestitures Announced or Completed
S&P Global (NYSE: SPGI) today reported first quarter 2022 results with reported revenue of $2.39 billion, an increase of 18% compared to the same period last year. Strong execution drove growth across five of the Company’s six divisions, while Ratings transaction revenue was negatively impacted by a sharp year-over-year reduction in debt issuance. GAAP net income increased 64% to $1.24 billion and GAAP diluted earnings per share increased 43% to $4.47 primarily due to the gain on sale of businesses partially offset by the impact of the merger with IHS Markit.
Adjusted pro forma revenue increased 2% compared to the first quarter of 2021. Adjusted pro forma net income declined 1% to $1.01 billion and adjusted pro forma diluted earnings per share increased 0.3% to $2.89 primarily due to a 1% decrease in pro forma fully diluted shares outstanding. The largest adjustments in the first quarter of 2022 were for gains on the sale of divested businesses and costs related to the merger with IHS Markit.
“Our first quarter as a unified company demonstrated the incredible power of the merger of S&P Global with IHS Markit,” said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. “Through the combination of our diverse and complementary data, benchmarks, insights, and research, alongside the contribution of our people and technology, we empower our customers to make informed decisions during an especially volatile and uncertain period.”
details at: https://investor.spglobal.com/news-releases/news-details/2022/SP-Global-Reports-Revenue-Growth-in-First-Quarter-Post-Merger/default.aspx