S&P Global Forecasts 2023 Revenue Growth, Backs Adjusted Earnings View
27 April 2023 - 02:31PM
Dow Jones News
By Rob Curran
S&P Global Inc. forecast revenue growth for 2023 on an
unadjusted basis and reiterated its adjusted earnings and sales
targets.
The New York credit-ratings, data and research firm forecast
revenue growth of 10% to 12% for the year, as the acquisition of
rival IHS Markit generates extra sales.
S&P Global continues to expect revenue growth of 4% to 6% on
a pro-forma basis.
The firm forecast 2023 earnings in a range of $8.65 to $8.85 a
share, down from $10.20 a share in 2022.
S&P Global backed its previous adjusted-earnings target of
$12.35 to $12.55 a share.
The company slightly reduced the lower end of its adjusted
free-cash flow target by $100 million for 2023 to reflect changes
to tax treatment of research-and-development activities. S&P
Global is now anticipating adjusted free cash flow in a range of
$4.2 billion to $4.4 billion.
S&P Global said its Kensho unit recently launched two
artificial-intelligence products, which can help commercial clients
incorporate their own data with that provided by the company.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 27, 2023 08:16 ET (12:16 GMT)
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