Summary
S&P Global Inc. (SPGI) filed an 8-K on July 28, 2009, to provide its second-quarter 2009 earnings release. The company reported GAAP earnings per diluted share of $0.52 for the quarter ending June 30, 2009. This filing also updated the company's full-year 2009 outlook, reflecting a more significant expected revenue decline due to weakening market conditions in advertising and education. While maintaining a tight focus on cost controls, SPGI adjusted its full-year earnings per diluted share guidance. The company provided a revised forecast of $2.20 to $2.25 per diluted share, excluding certain restructuring charges and the divestiture of Vista Research, and indicated it expects to be at the lower end of this revised range. The filing also included supplemental financial information with adjusted operating results by segment, excluding specific restructuring charges and the loss on the sale of Vista Research.
Key Highlights
- 1Reported GAAP earnings per diluted share of $0.52 for the second quarter of 2009.
- 2Revised full-year 2009 revenue outlook to a decline of 5.5% to 6.5%, an increase from the previous expectation of a 4.0% to 5.0% decline.
- 3Adjusted full-year 2009 diluted earnings per share guidance to a range of $2.20 to $2.25, excluding specific charges and divestitures.
- 4Indicated expectation to be at the low end of the revised full-year EPS guidance.
- 5Cited weakening market conditions in advertising and school education as drivers for the revised outlook.
- 6Provided adjusted operating results by segment, excluding restructuring charges and the loss on the sale of Vista Research, for enhanced comparability.
- 7Included the earnings release dated July 28, 2009, as an exhibit.