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S&P Global (SPGI) Tops Q2 Earnings and Revenue Estimates

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S&P Global Inc. (SPGI - Free Report) reported second-quarter 2018 earnings per share of $2.17 (on an adjusted basis), beating the Zacks Consensus Estimate of $2.13. Earnings increased 26% on a year-over-year basis.

How Was the Estimate Revision Trend?

Investors should note that the earnings estimate revisions for S&P Global depicted an optimistic picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for second-quarter 2018 earnings increase 0.5% over the last 30 days.

Moreover, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in all of the last four quarters with an average beat of 9.1%.

S&P Global Inc. Price and EPS Surprise

 

S&P Global Inc. Price and EPS Surprise | S&P Global Inc. Quote

Revenues Higher Than Expected

S&P Global recorded total revenues of $1,609 million which outperformed the Zacks Consensus Estimate of $1,598.5 million. Moreover, revenues compared favorably with the year-ago figure of $1,509 million.

Key Stats to Note: In the quarter, free cash flow was $488 million. The company returned $126 million to shareholders through dividend payment.  The $1 billion accelerated share repurchase agreement (which started during the first quarter) continues and the company is hopeful of completing the share repurchase program during the third quarter.

Zacks Rank: Currently, S&P Global has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.  

Check back later for our full write up on this S&P Global earnings report later!

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