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.