Operating Profit Margin Declined 40 Basis Points to 44.9%
Adjusted Operating Profit Margin Improved 40 Basis Points to 47.3%
Recently Launched Targeted ESG Products in Ratings and Indices
New York, NY, May 2, 2019 – S&P Global (NYSE: SPGI) today reported first quarter 2019 results with revenue of $1,571 million, essentially unchanged compared to the same period last year. On an organic basis, and excluding the unfavorable impact from foreign exchange, revenue increased 1%.
Net income decreased 16% to $410 million and diluted earnings per share decreased 14% to $1.65 as gains from a lower tax rate and lower share count were more than offset by a $113 million pre-tax, non-cash charge associated with the frozen U.S. defined benefit pension plan due to a partial pension risk transfer to an insurance company. Adjusted net income increased 3% to $524 million and adjusted diluted earnings per share increased 5% to $2.11. The adjustments in the first quarter of 2019 were associated with the U.S. pension liability, deal-related amortization, and Kensho retention-related expenses.
“The markets have come a long way since the depths of December as they began to stabilize in the second week of January,” said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. “We don't let market disruptions interfere with our business plans. During the quarter we continued to execute on our strategic investments – fueling new product launches, technology projects, and improved productivity across the Company as we continue to Power the Markets of the Future.”
The Company has added to its suite of ESG products with two important launches. S&P Dow Jones Indices (S&P DJI) is launching a global family of ESG indices utilizing S&P DJI ESG scores. Based upon the iconic S&P 500®, the first to launch was the S&P 500® ESG Index. In addition, S&P Global Ratings launched ESG Evaluations – a cross-sector, relative analysis of an entity’s ability to operate successfully in the future and optimize long-term stakeholder value in light of its natural and social environment and the quality of its governance.
The following information was filed by Sp Global Inc. (SPGI) on Thursday, May 2, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: SPGI CIK: 64040 Form Type: 10-Q Quarterly Report Accession Number: 0000064040-19-000132 Submitted to the SEC: Fri May 03 2019 12:59:44 PM EST Accepted by the SEC: Fri May 03 2019 Period: Sunday, March 31, 2019 Industry: Consumer Credit Reporting Collection Agencies