Categories Earnings, Technology

Earnings: British firm IHS Markit posts massive slump in Q1 net profit

London-based analytics firm IHS Markit (Nasdaq: INFO) on Tuesday reported results for the first quarter of fiscal 2019. Revenue jumped 12% to $1.05 billion, while net attributable income slipped 55% to $109.7 million or 27 cents per diluted share.

Adjusted EBITDA soared 14% to $408 million, while adjusted earnings rose 13% to 60 cents per diluted share.

Cash flow from operations slipped 7% to $188 million, and free cash flow slumped 16% to $124.8 million.

The net income attributable to IHS Markit for the quarter included a one-time tax benefit associated with the US tax reform estimated at about $136 million.

 

CMS Segment falls short in Q1

In the first quarter revenue, all segments except Consolidated Markets & Solutions (CMS) saw a bump in revenue.

Resources revenue grew 6% to $217 million, while revenue for Transportation rose 7% to $288 million. Financial Services top-line jumped 28% to $409 million.

Only CMS fell short, with revenue slipping 8% to $29 million.

 

Outlook hints at further revenue growth

For the fiscal year 2019, IHS Markit now sees revenue in the range of $4.425 billion to $4.500 billion, with a total organic growth of 6-7% including Ipreo for the full 12 months.

Adjusted EBITDA is expected to be between $1.75 billion and $1.78 billion for the year, while adjusted earnings is touted to be $2.52-2.57 per diluted share.

 

 

Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

FDX Earnings: FedEx Q1 adjusted earnings drop; revenue up 5%

Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted

Key highlights from Darden Restaurants (DRI) Q1 2023 earnings results

Darden Restaurants, Inc. (NYSE:DRI) reported first quarter 2023 earnings results. Total sales increased 6.1% year-over-year to $2.4 billion, driven by blended same-restaurant sales growth of 4.2%. Net earnings amounted to

ACN Earnings: Key quarterly highlights from Accenture’s Q4 2022 financial results

Accenture (NYSE: ACN) reported fourth quarter 2022 earnings results today. Total revenues were $15.4 billion, up 15% year-over-year in US dollars and up 22.4% in local currency. Net income attributable

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top