8-KEarnings & ResultsRegulation FDExhibits & Filings

S&P Global Inc. 8-K Report, Financial Results (Mar 9, 2005)

Filed March 9, 2005For Securities:SPGI

Summary

This 8-K filing from The McGraw-Hill Companies, Inc. (which at the time operated under this name before becoming S&P Global Inc.) on March 9, 2005, primarily serves as a Regulation FD disclosure. The company presented updated earnings guidance for 2005 at the Merrill Lynch Annual Advertising/Marketing, Education & Information Conference and issued a related press release. This guidance highlights expected high single-digit growth in earnings per share (EPS) from continuing operations. The company also provided specific details on factors influencing their EPS guidance, including expected dilution from acquisitions and changes in pension plan assumptions for 2005. Notably, they explicitly excluded a 2004 non-cash benefit related to accrued tax liabilities and a change in accounting for share-based compensation, aiming to provide investors with a clearer view of ongoing operational performance and facilitate period-to-period comparisons.

Key Highlights

  • 1The McGraw-Hill Companies provided updated 2005 earnings per share (EPS) guidance.
  • 2Expected high single-digit EPS growth from continuing operations for fiscal year 2005.
  • 3Anticipated 16-to-19 cents of dilution to EPS from acquisitions in 2005.
  • 4Changes in pension plan assumptions for 2005 will impact EPS.
  • 5Guidance excludes a 10-cent non-cash benefit from 2004 accrued tax liabilities for clearer comparison.
  • 6Guidance also excludes the impact of a change in accounting for share-based compensation effective July 1, 2005.
  • 7The company believes this adjusted disclosure is meaningful for evaluating financial condition and operational strengths.

Frequently Asked Questions

The main purpose of this 8-K filing is to disclose updated earnings guidance for 2005 and to provide context on factors affecting that guidance, in compliance with Regulation FD. The company presented this information at a Merrill Lynch conference and issued a press release.

The company expects high single-digit growth in earnings per share from continuing operations for the fiscal year 2005.

The 2005 EPS guidance is expected to be impacted by dilution from acquisitions (estimated at 16-to-19 cents) and changes in pension plan assumptions. The company also clarified what items are being excluded for comparison purposes.

For the purpose of facilitating period-to-period comparisons and evaluating ongoing business performance, the company is excluding a 10-cent non-cash benefit from 2004 accrued tax liabilities and a change in accounting for share-based compensation that is effective July 1, 2005.