IHS Markit Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended November 30, 2017; Provides Earnings Guidance for the Year Ending November 30, 2018
For the year, the company reported revenue of $3,599.7 million compared to $2,734.8 million a year ago. Operating income was $524.2 million compared to $260.4 million a year ago. Income from continuing operations before income taxes and equity in loss of equity method investee was $372.1 million compared to $142.3 million a year ago. Net income attributable to the company was $416.9 million or $1.00 per diluted share compared to $152.8 million or $0.48 per diluted share a year ago. Net cash provided by operating activities was $961.5 million compared to $638.3 million a year ago. Capital expenditures on property and equipment were $260.2 million compared to $147.6 million a year ago. EBITDA was $1,011.6 million compared to $601.5 million a year ago. Adjusted EBITDA was $1,389.9 million compared to $987.7 million a year ago. Adjusted net income was $860.0 million or $2.07 per diluted share compared to $570.0 million or $1.80 per diluted share a year ago. Free cash flow was $701.3 million compared to $490.7 million a year ago.
The company provided earnings guidance for the year ending November 30, 2018. The company expects revenue in a range of $3.80 billion to $3.85 billion, including total organic growth of 4% to 5%; adjusted EBITDA in a range of $1.500 billion to $1.525 billion; adjusted EPS in a range of $2.23 to $2.27 per diluted share; net interest expense to be approximately $180 million to $190 million; depreciation expense to be approximately $180 million to $190 million; amortization expense related to acquired intangible assets to be approximately $340 million to $350 million; an adjusted effective tax rate of approximately 18% to 20%; and capital expenditures to be approximately 6% to 7% of revenue.