8-KEarnings & ResultsRegulation FDExhibits & Filings

S&P Global Inc. 8-K Report, Financial Results (Jan 26, 2010)

Filed January 26, 2010For Securities:SPGI

Summary

S&P Global Inc. (SPGI) filed an 8-K on January 26, 2010, to furnish its earnings release for the fourth quarter and full fiscal year ended December 31, 2009. The report highlights a decrease in diluted earnings per share (EPS) for the full year 2009 to $2.33, compared to $2.51 in 2008. This decline was impacted by several one-time items, including a loss on the sale of Vista Research, Inc., restructuring charges, and a gain on the sale of BusinessWeek in 2009, as well as a restructuring charge in 2008. For the fourth quarter of 2009, SPGI reported diluted EPS of $0.53, an improvement from $0.37 in the fourth quarter of 2008. The company also provided adjusted operating results, excluding the impact of these various charges and gains, to offer investors a clearer view of core operational performance and facilitate year-over-year comparisons. Investors should note the specific details of these adjustments when evaluating the company's financial health and operational trends.

Key Highlights

  • 1Full-year 2009 diluted EPS reported at $2.33, down from $2.51 in 2008.
  • 2Fourth-quarter 2009 diluted EPS of $0.53, an increase from $0.37 in the fourth quarter of 2008.
  • 32009 full-year results were impacted by a pre-tax loss on the sale of Vista Research ($13.8 million), restructuring charges ($15.2 million), and a pre-tax gain on the sale of BusinessWeek ($10.5 million).
  • 42008 full-year results included a $0.14 restructuring charge per diluted share.
  • 5Fourth-quarter 2009 results included a $0.02 gain on the sale of BusinessWeek.
  • 6Fourth-quarter 2008 results included a $0.05 restructuring charge per diluted share.
  • 7SPGI provided adjusted operating results, excluding certain charges and gains, to enhance comparability.

Frequently Asked Questions

For the full year 2009, S&P Global reported diluted earnings per share (EPS) of $2.33. This represents a decrease compared to the $2.51 reported for the full year 2008. The 2009 results were affected by a loss on the sale of Vista Research, restructuring charges, and a gain on the sale of BusinessWeek, while 2008 results included a restructuring charge.

In the fourth quarter of 2009, S&P Global reported diluted EPS of $0.53, which includes a gain from the sale of BusinessWeek. This is an increase from the fourth quarter of 2008, when diluted EPS was $0.37, which included a restructuring charge.

S&P Global provided adjusted operating results to offer investors supplemental information. These adjusted figures exclude the impact of specific items like restructuring charges and gains/losses on asset sales from both 2009 and 2008. The company believes this approach allows for more meaningful comparisons of its core operational performance between the two periods.

The main non-recurring items impacting S&P Global's 2009 results included a pre-tax loss of $13.8 million from the sale of Vista Research, Inc., a net pre-tax restructuring charge of $15.2 million, and a pre-tax gain of $10.5 million on the sale of BusinessWeek.