S&P Global (SPGI) Tops Q1 EPS by 23c

S&P Global (NYSE: SPGI) reported Q1 EPS of $3.15, $0.23 better than the analyst estimate of $2.92. Revenue for the quarter came in at $3.16 billion versus the consensus estimate of $3.06 billion.

GUIDANCE:

S&P Global sees FY2023 EPS of $12.35-$12.55, versus the consensus of $12.48.

The Company is providing non-GAAP adjusted guidance that excludes merger expenses, and amortization of intangibles related to acquisitions. Non-GAAP adjusted guidance is provided to reflect expected financial results for the full year, with growth rate guidance presented relative to non-GAAP pro forma adjusted measures for fiscal 2022, assuming the merger with IHS Markit (and associated divestitures) had closed on January 1, 2021. Revenue is still expected to increase in the range of 4% to 6% relative to pro forma revenue and non-GAAP pro forma adjusted revenue in fiscal 2022. Non-GAAP adjusted diluted EPS is still expected in the range of $12.35 to $12.55. Non-GAAP adjusted free cash flow excluding certain items is now expected to be in the range of $4.2 to $4.3 billion, compared to prior guidance of $4.3 to $4.4 billion. This guidance range has been reduced by approximately $100 million, primarily reflecting our current estimate of the net 2023 cash tax impact of the Internal Revenue Code (\"IRC\") Section 174 requirement to capitalize research and development costs.

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

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