LONDON, UK / ACCESSWIRE / January 19, 2018 / Active-Investors.com has just released a free earnings report on IHS Markit Ltd (NASDAQ: INFO) ("Markit"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=INFO. The Company reported its fourth quarter fiscal 2017 operating and financial results on January 17, 2018. The world leader in critical information, analytics, and solutions outperformed top- and bottom-line expectations and provided guidance for the fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, IHS Markit most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=INFO
Earnings Highlights and Summary
For the three months ended November 30, 2017, Markit reported revenues of $944.7 million, up 8% compared to $873.8 million in Q4 2016, including a total organic revenue growth of 6%. The Company's revenue numbers topped analysts' estimates by $32.08 million.
For the full fiscal year 2017, Markit's revenue was $3.60 billion, which represented a growth of 32% compared to revenue of $2.73 billion for the full fiscal year 2016.
During Q4 2017, Markit posted a net income of $105.7 million and diluted earnings per share (EPS) of $0.26 compared to earnings of $89.3 million, or $0.21 per diluted share. On an adjusted basis, the Company posted EPS of $0.52 for the reported quarter versus $0.48 for the year ago same period, beating Wall Street's estimates of $0.50.
For FY17, Markit reported a net income of $416.9 million, or $1.00 share, compared to $152.8 million, or $0.48 per share, for FY16. On an adjusted basis, the Company posted EPS of $2.07, up 15% compared to $1.80 in FY16.
Operating Performance
During Q4 2017, Markit's Resources segment's revenue grew 1% to $216 million on a y-o-y basis, with recurring revenue declining 1% on an organic basis. The segment's adjusted EBITDA was flat at $92 million for the reported quarter. For FY17, the Resources segment's revenue decreased 2% to $839 million on a y-o-y basis, while adjusted EBITDA also dropped 2% to $360 million.
For Q4 2017, Markit's Transportation segment's revenue advanced 14% to $267 million on a y-o-y basis, and included an organic growth of 11% for the recurring-based business. The segment's adjusted EBITDA increased 10% to $111 million for the reported quarter. For FY17, the Transportation segment's revenue jumped 11% to $992 million, and adjusted EBITDA climbed 16% to $409 million.
During Q4 2017, Markit's Consolidated Markets & Solutions (CMS) segment's revenue grew 5% to $140 million, and had an organic growth of 1% for the recurring-based business. The segment's adjusted EBITDA fell 9% to $33 million on a y-o-y basis. For FY17, the CMS segment's revenue edged up 1% to $536 million, while adjusted EBITDA dropped 2% to $125 million.
For Q4 2017, Markit's Financial Services segment's revenue increased 10% to $321 million, and included a total organic growth of 8%. The segment's adjusted EBITDA surged 18% to $148 million on a y-o-y basis for the reported quarter.
Cash Matters
At the end of FY17, Markit's debt balance was $4.2 billion, which represented a gross leverage ratio of approximately 2.9x on a bank covenant basis. The Company closed the reported quarter with $134 million of cash. At the end of Q4 2017, Markit's undrawn revolver balance was approximately $964 million.
During FY17, Markit made share repurchases of approximately $1.4 billion, or 34.6 million shares, at an average price of $40.71. The share repurchases included $1.1 billion against the Company's buyback commitment and $300 million from stock option proceeds. Markit is planning to execute $1.1 billion of share buybacks in 2018.
Outlook
For the year ending November 30, 2018, Markit is forecasting revenue to be in a range of $3.80 billion to $3.85 billion, including a total organic growth of 4% to 5%. The Company is estimating adjusted EBITDA to be in a band of $1.500 billion to $1.525 billion, and adjusted diluted EPS to be in a range of $2.23 to $2.27. Markit is estimating capital expenditure to be approximately 6% to 7% of revenue, and free cash flow conversion as a percentage of adjusted EBITDA to be in the mid-60's.
Stock Performance Snapshot
January 18, 2018 - At Thursday's closing bell, IHS Markit's stock marginally fell 0.46%, ending the trading session at $47.65.
Volume traded for the day: 3.78 million shares, which was above the 3-month average volume of 1.97 million shares.
Stock performance in the last month - up 4.66%; previous three-month period - up 8.89%; past twelve-month period - up 23.45%; and year-to-date - up 5.54%
After yesterday's close, IHS Markit's market cap was at $18.90 billion.
Price to Earnings (P/E) ratio was at 50.11.
The stock is part of the Services sector, categorized under the Business Services industry. This sector was up 0.1% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
