IHS Markit Reports Strongest Quarterly Revenue Growth Since 2016

IHS Markit (Nasdaq: INFO) reported its results for the second quarter ended May 31, 2018 today. The results showed the company experienced the strongest growth of revenue per quarter since its merger in July 2016.

According to the report, IHS Markit’s second-quarter revenue in 2018 increased by 11 percent, compared to the same period of 2017, to $1.008 billion. The company had a total organic revenue growth of eight percent year-on-year.

The results also showed a net income of $144 million and diluted earnings per share (EPS) of $0.28. In addition, adjusted earnings per diluted share were $0.61.

Cash flow from operations came in at $383 million, and IHS Markit reported a free cash flow of $323 million.

Commenting on the results, Lance Uggla, chairman and chief executive officer at IHS Markit said: “We reported our strongest organic revenue growth quarter since the Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term while delivering solid margin expansion and earnings growth. We also continue to make the appropriate level of strategic investments to position us well into the future.”

IHS Markit offers a range of services for businesses, governments and leading financial institutions. It provides critical information, Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term, and solutions for major industries and markets.

Todd Hyatt, the chief financial officer at IHS Markit, commented on the company’s results by saying: “Q2 organic revenue growth was broad-based across IHS Markit.”

IHS Markit Outlook

Following the release of the report, IHS Markit has now updated its forecasts for the year ending November 30, 2018. The company now expects revenue in a range of $3.85 billion to $3.90 billion, including the total organic growth of five percent to six percent.

It also sees its adjusted EBITDA coming in the upper end of $1.500 billion to $1.525 billion, and it forecasts adjusted EPS to land in a range of $2.23 to $2.27 per diluted share.

In its statement, IHS clarifies that the above forecasts assume no further currency movements, acquisitions, divestitures, pension mark-to-market adjustments or unanticipated events.