IHS Markit highlighted the operating performance in some of the company’s segments including Financial Services, Transportation, Resources, and Consolidated Markets & Solutions.Financial services company IHS Markit Ltd (NYSE: INFO) has released its earnings results for Q1 2021, which ended on the 28th of February. In the result published on the 23rd of March, the company said revenue in Q1 2021 was .120 billion, with 3% total organic growth.IHS Markit’s CEO and chairman, Lance Uggla, expressed his excitement over the earnings result. The CEO said that the company is pleased to start the year on a good note. He stated that all of IHS Markit segments performed at or about expectations in the first quarter.IHS Markit Q1 2021 Earnings ResultsAccording to the financial result, revenue grew 3%
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IHS Markit highlighted the operating performance in some of the company’s segments including Financial Services, Transportation, Resources, and Consolidated Markets & Solutions.
Financial services company IHS Markit Ltd (NYSE: INFO) has released its earnings results for Q1 2021, which ended on the 28th of February. In the result published on the 23rd of March, the company said revenue in Q1 2021 was $1.120 billion, with 3% total organic growth.
IHS Markit’s CEO and chairman, Lance Uggla, expressed his excitement over the earnings result. The CEO said that the company is pleased to start the year on a good note. He stated that all of IHS Markit segments performed at or about expectations in the first quarter.
IHS Markit Q1 2021 Earnings Results
According to the financial result, revenue grew 3% organically over 2020 revenue of $1,081 billion. Details on revenue generated by transaction typed include recurring fices, recurring variable, and non-recurring. The recurring fixed for Q1 2021 was $825,6 million, a 3% growth and 2% organic growth compared to Q1 2020. Recurring variable jumped 18% or 17% organic growth to $172.9 million. Furthermore, non-recurring was $121.4 million, a 7% difference compared to Q1 2020 result.
In addition, net income attributable to the company was $149.3 million, a 69% difference from the Q1 2020 record of $485 million. In the recently concluded quarter, IHS Markit saw an Adjusted EBITDA of $466.8 million in Q1 2021. Adjusted EBITDA recorded in the quarter represents 8% year-on-year.
IHS Markit’s Adjusted earnings per diluted share (EPS) was $0.71 million. GAAP EPS dropped by 69% to $0.37 million. For the same period last year, the company reported $1.20 million.
The chief financial officer at IHS Markit, Jonathan Gear, commented:
“As our end markets and business continue to recover, we now expect to deliver results in the upper half of our 2021 revenue Adjusted EBITDA, and Adjusted EPS guidance ranges.”
IHS First Quarter 2021 Operating Performance
IHS Markit also highlighted the operating performance in some of the company’s segments. These segments include Financial Services, Transportation, Resources, and Consolidated Markets & Solutions. Revenue for Financial Services in the first quarter surged 11% to $485 million. Q1 revenue for Transportation jumped 5% to $312 million during the same quarter.
The report showed that revenues for Resources and Consolidated Markets & Solutions (CMS) declined in Q1. Revenue for resources plunged 10% to $203 million, while CMS dropped 1% to $121 million. Q1 Adjusted EBITDA for CMS fell 3 million or 11% to $26 million.
At the time of writing, IHS Markit stock is at premarket trading of $96.74. The trading price is a 2.25% gain over its previous close of $94.61. Over the past year, INFO stock has surged 108.39% and a further increase of more than 5% since the beginning of the year. The company has also added 8.51% in the last three months and over 3% over the past month. Despite recent increases, however, IHS Markets has plunged 1.80% in the five days.
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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.