IHS Backtracks on Q3 Numbers

IHS Markit Ltd (NYSE:INFO) saw its shares fall on third-quarter figures Revenue of $1.073 billion, including total organic revenue growth of negative 1%.

Net income for the information gathering company registered at $164 million and diluted earnings per share (EPS) was $0.41. Adjusted EBITDA were $486 million and Adjusted earnings per diluted share were $0.77

Cash flow from operations of $403 million and free cash flow of $339 million.

Third-quarter revenue for Financial Services increased $17 million, or 4%, to $446 million, and included 4% total organic growth. Third quarter Adjusted EBITDA for Financial Services increased $27 million, or 13%, to $226 million.

Third-quarter revenue for Transportation decreased $16 million, or 5%, to $299 million, with flat total organic growth. Third quarter Adjusted EBITDA for Transportation increased $19 million, or 14%, to $154 million.

Third-quarter revenue for Resources decreased $22 million, or 9%, to $208 million, and included negative 9% total organic growth. Third quarter Adjusted EBITDA for Resources decreased $14 million, or 14%, to $86 million.

According to CEO Lance Uggla, "In Q3, we delivered solid results as the markets we operate in have begun to recover at varying speeds. We are managing the COVID challenges well while continuing to make the right long-term decisions for the company, shareholders, and the communities that we operate in and serve."

INFO shares dipped $1.06, or 1.3%, to $79.00