S&P Global Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, data giant S&P Global, Inc. (SPGI) raised its earnings, adjusted earnings and revenue growth guidance for the full-year 2024.

For fiscal 2024, the company now projects earnings in a range of $10.80 to $11.05 per share and adjusted earnings in a range of $13.85 to $14.10 per share on revenue growth of 6 to 8 percent.

Previously, the company expected earnings in a range of $10.70 to $10.95 per share and adjusted earnings in a range of $13.75 to $14.00 per share on revenue growth of 5.5 to 7.5 percent.

On average, 21 analysts polled by Thomson Reuters expect the company to report earnings of $14.11 per share on revenue growth of 7.5 percent to $13.43 billion for the year. Analysts' estimates typically exclude special items.

For the full year 2024, the Company expects to return approximately 85% of adjusted free cash flow to shareholders through dividends and share repurchases.

The Board of Directors has also authorized a quarterly cash dividend of $0.91. The Company expects to execute additional share repurchases totaling approximately $1.3 billion through the third quarter of 2024.

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