(INFO) – IHS Markit Stock Slips after Revising FY21 Revenue Forecast Below Consensus

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  • IHS Markit SA (NYSE: INFO) reported third-quarter revenue growth of 10% year-on-year to $ 1.18 billion and 9% on an organic basis, beating the consensus of $ 1.17 billion.
  • Sales by segments: Financial services $ 490 million (+ 10% Y / Y); Transportation $ 347 million (+ 16% Y / Y); Resources $ 208 million (fixed); and Consolidated Markets and Solutions $ 136 million (+ 12% Y / Y).
  • Adjusted EPS improved to $ 0.85 from $ 0.77 in 3Q20, beating the consensus of $ 0.83.
  • Adjusted EBITDA was $ 515.6 million, compared to $ 486.2 million in 3Q20, and the margin contracted 160 basis points to 43.7%.
  • Operating income increased 11.3% year-on-year to $ 290.8 million and the margin contracted 30 basis points to 24.6%.
  • IHS Markit has generated cash flow from operating activities to date of $ 1.04 billion, up from $ 800.5 million a year ago. It had $ 337.9 million in cash and cash equivalents as at August 31, 2021.
  • Outlook FY21: IHS Markit is forecasting revenue of $ 4.61 billion to $ 4.63 billion (earlier view of $ 4.635 billion to $ 4.675 billion) against a consensus of $ 4.66 billion.
  • Adjusted EPS of $ 3.18 to $ 3.20 (before $ 3.15 to $ 3.17) against the consensus of $ 3.17.
  • The forecast for organic revenue growth of 7-8% and Adjusted EBITDA of $ 2.02-2.03 billion with a margin of around 44% remain the same.
  • Price action: INFO shares are trading down 6.19% at $ 115.07 on the last check on Tuesday.


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