S&P Global Suspends 2022 Financial Guidance Due to Extraordinarily Weak Market Conditions for its Ratings Business

S&P Global (NYSE: SPGI) is suspending financial guidance for the full year 2022. Macroeconomic conditions have deteriorated since S&P Global Inc. (“the Company”) last provided financial guidance on May 3, 2022, negatively impacting the Company’s expectations for GDP growth and debt issuance volumes. Given the volatility and uncertainty in the issuance environment, the Company cannot affirm its previously issued guidance and expects to reintroduce formal financial guidance in conjunction with its second quarter 2022 earnings results.

Debt issuance volumes have been extraordinarily weak year-to-date. Should similar trends continue through the end of 2022, market issuance could see year-over-year declines in the high teens. Rated, or billed, issuance could be approximately 30-35% lower than the previous year, and leveraged loan volumes could be approximately 40% lower. In such a scenario, Ratings revenue could be negatively impacted by as much as $600 million relative to previous revenue guidance and the Company would expect Ratings adjusted operating margin in the high 50s range.

At this point, the Company does not expect a change to its previously stated capital return targets.
more at: https://investor.spglobal.com/news-releases/news-details/2022/SP-Global-Suspends-2022-Financial-Guidance-Due-to-Extraordinarily-Weak-Market-Conditions-for-its-Ratings-Business-Expects-to-Re-introduce-with-Second-Quarter-2022-Earnings-Results/default.aspx

Related Posts

Meredith Corporation Extends Tender Offer To Acquire Time Inc.

Meredith Corporation announced that it has extended its previously announced tender offer to purchase all of the outstanding shares of common stock of Time Inc. for $18.50 per share in an all-cash transaction valued at $2.8 billion. The Offer will now expire one minute after 11:59 p.m. (Eastern Time) on January 25, 2018, per terms of the merger agreement, unless further extended. All other terms and conditions of the Offer remain unchanged. Computershare Trust Company, N.A., the depository for the Offer, has advised Meredith that as of the close of business (Eastern Time) on January 10, 2018, approximately 59,024,324 shares of common stock of Time (not including 4,812,404 shares tendered by notice of guaranteed delivery for which shares have not yet been delivered) have been validly tendered and not properly withdrawn pursuant to the Offer, representing approximately 58.7% of the outstanding shares of common stock of Time. Click Read More below for additional information.

Latest Postal Service Report Shows Consistency Across Network

FY23 third quarter service performance scores covering July 1 through July 14, included: *First-Class Mail: 92.0 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 95.3 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 87.7 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from fiscal third quarter.

Oklahoma Supreme Court Blocks State Effort to Ban Books from School Libraries

On June 11, the Oklahoma Supreme Court ruled that the state Department of Education overstepped its authority by attempting to force the Edmond Public School district to remove two books the state had deemed inappropriate from its school library shelves, holding that new state rules enacted last year to govern book content in the state’s public schools had no basis in law. “We conclude a local school board possesses statutory authority to maintain and control its local school library, and one aspect of this control includes discretionary selection for providing supplemental educational books and instructional material deemed appropriate by the local school board in compliance with state statutes,” the unanimous decision reads. “No statute gives the State Board of Education, State Department of Education, and Superintendent of Public Instruction the authority to overrule a local school board's exercise of discretion in applying its local community standards for books in a local school library.”
Back To Top
×Close search
Search