IHS Markit Reports Strongest Quarterly Revenue Growth Since 2016

Second quarter revenue in 2018 increased by 11 percent, compared to the same time period in 2017.

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.

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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.

Chairman and CEO at IHS Markit
Source: LinkedIn

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 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.”

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IHS Markit offers a range of services for businesses, governments and leading financial institutions. It provides critical information, analytics, and solutions for major industries and markets.

Todd Hyatt, Executive Vice President and Chief Financial Officer
Source: IHS Markit

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.

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