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

Coca-Cola (KO) Q1 2021 earnings release

The Coca-Cola Company (NYSE: KO) reported first-quarter 2021 financial results before the regular market hours on Monday. The beverage manufacturer reported fourth-quarter revenue of $9 billion, up 5% year-over-year. The

Earnings calendar for the week of April 19

The market rally gathered pace this week amid impressive quarterly results, led by the banking sector, and positive economic data. Leading stock indexes continued their winning streak, with S&P 500

Undeterred by crisis, Bank of America stays in expansion mode

Leading Wall Street banks recorded robust earnings in the early months of fiscal 2021 with the results benefiting from the release of credit loss reserves, in most cases. Taking advantage

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