S&P Global Inc (SPGI) has reported 116.53 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $537 million, or $2.05 a share in the quarter, compared with $248 million, or $0.91 a share for the same period last year.
Revenue during the quarter went up marginally by 1.82 percent to $1,399 million from $1,374 million in the previous year period. Total expenses were 38.74 percent of quarterly revenues, down from 69.14 percent for the same period last year. This has led to an improvement of 3040 basis points in operating margin to 61.26 percent.
Operating income for the quarter was $857 million, compared with $424 million in the previous year period.
"I am pleased with the strong financial performance we delivered in our first year as S&P Global and enthusiastic about the changes that we made to strengthen our portfolio as we head into 2017. Successfully integrating SNL into S&P Capital IQ has created a new platform with greater reach and scale. Acquiring PIRA Energy Group, RigData, and Commodity Flow has bolstered Platts' ability to create world-class commodity supply/demand analytics. The addition of Trucost adds ESG capability to both our Indices and Ratings businesses. And, divesting non-core businesses has left us with a stronger, more cohesive set of businesses," said Douglas L. Peterson, president and chief executive officer of S&P Global. He added,
For financial year 2017, the company projects diluted earnings per share to be in the range of $5.65 to $5.90, the company projects diluted earnings per share to be in the range of $5.90 to $6.15 on adjusted basis.
Operating cash flow improves significantlyS&P Global has generated cash of $1,464 million from operating activities during the year, up 650.77 percent or $1,269 million, when compared with the last year. Cash flow from investing activities was $1,205 million from investing activities during the year as against cash outgo of $2,525 million in the last year.
The company has spent $1,600 million cash to carry out financing activities during the year as against cash inflow of $1,510 million in the last year period.
Cash and cash equivalents stood at $2,392 million as on Dec. 31, 2016, up 61.51 percent or $911 million from $1,481 million on Dec. 31, 2015.
Debt comes down marginallyS&P Global has recorded a decline in total debt over the last one year. It stood at $3,564 million as on Dec. 31, 2016, down 1.30 percent or $47 million from $3,611 million on Dec. 31, 2015. Total debt was 41.11 percent of total assets as on Dec. 31, 2016, compared with 44.13 percent on Dec. 31, 2015. Debt to equity ratio was at 5.08 as on Dec. 31, 2016, down from 14.86 as on Dec. 31, 2015. Interest coverage ratio improved to 14.28 for the quarter from 10.60 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
