IHS Markit Q1 Adj. EPS Tops Estimates - Quick Facts

(RTTNews) - IHS Markit Ltd. (INFO) reported Tuesday that net income attributable to IHS Markit for the first quarter soared to $485.0 million or $1.20 per share from $109.7 million or $0.27 per share in the prior-year quarter.

Adjusted earnings for the quarter were $0.66 per share, compared to $0.60 per share in the year-ago quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.64 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter grew 3 percent to $1.08 billion from last year's $1.05 billion, with revenue increasing 6 percent organically. Analysts were looking for revenues of $1.08 billion for the quarter.

Looking ahead, IHS Markit said it will provide a fiscal year 2020 guidance update and supplemental information deck as part of its previously announced first quarter 2020 results conference call later in the day.

"We have analyzed the changing dynamics within our markets, developed a strong plan, and are taking decisive cost action while making room for investment to deliver double-digit earnings growth this year and over the coming years, under multiple revenue scenarios," said Lance Uggla, Chairman and CEO.