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February 4, 2014
14:16 EDTMHFIMcGraw Hill Financial rallies after Q4 results and guidance
Shares of financial intelligence company and ratings provider McGraw Hill Financial (MHFI) are trading higher after the company's fourth quarter results surpassed analysts' expectations. The firm also introduced 2014 guidance. WHAT'S NEW: This morning, McGraw Hill Financial reported fourth quarter earnings per share of 81c on revenue of $1.25B, surpassing analysts' consensus estimates of 78c and $1.24B, respectively. The company also introduced fiscal year 2014 guidance of mid-teen earnings per share growth to $3.75 to $3.85, against analysts' consensus estimate of $3.75. McGraw Hill Financial also gave FY14 revenue guidance of mid single-digit growth and said it expects free cash flow for 2014 of approximately $1B. The company's president and chief executive officer Douglas Peterson commented, "2013 has been a momentous year for the company as we transformed McGraw Hill Financial into a more profitable, more growth-oriented company." He continued, "My focus will be on enhancing our customers' experience, thoughtfully broadening our presence in international markets, and delivering strong financial performance based both upon revenue growth and cost control." PRICE ACTION: In afternoon trading, McGraw Hill Financial shares are off their highs but still up about 3% to $76.57 on almost twice their average daily trading volume.
News For MHFI From The Last 14 Days
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October 29, 2014
10:08 EDTMHFIMcGraw Hill Financial says Italian judge issues indictments against S&P
In a filing, McGraw Hill Financial notes that on January 15, S&P Ratings received notification of a potential claim by the Prosecutor General of the Corte dei Conti, an Italian administrative court, with respect to whether S&P Ratings’ downgrade of Italian sovereign debt in May 2011 wrongfully damaged Italy’s public finances and international reputation and whether S&P Ratings should pay compensation to Italy for the costs of Italian budget adjustments and for ancillary damages in an amount “not lower than” EUR234B. The prosecutor in the Italian city of Trani is seeking criminal indictments against several current and former S&P Ratings managers and ratings analysts for alleged market manipulation, and against Standard & Poor’s Credit Market Services Europe under Italy’s vicarious liability statute, for having allegedly failed to properly supervise the ratings analysts and prevent them from committing market manipulation. The prosecutor’s theories are based on various actions by S&P Ratings taken with respect to Italian sovereign debt between May 2011 and January 2012. On October 28, 2014, the court granted the prosecutor’s request and issued indictments against the current and former S&P Ratings managers and ratings analysts, as well as Standard & Poor's Credit Market Services Europe.
07:12 EDTMHFIMcGraw Hill Financial incurred $46M of pre-tax restructuring charges in Q3
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07:12 EDTMHFIMcGraw Hill Financial cuts FY14 EPS to $3.78-$3.83 from $3.80-$3.90
FY14 EPS consensus of $3.86. With the recently announced agreement to sell the McGraw Hill Construction business, its year-to-date results, including directly attributable shared costs, have now been reclassified to discontinued operations. The Company is modestly adjusting its guidance as a result of the sale.
07:11 EDTMHFIMcGraw Hill Financial reports Q3 adjusted EPS $1.02, consensus 94c
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October 28, 2014
15:44 EDTMHFINotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Southern Company (SO), consensus $1.07; Phillips 66 (PSX), consensus $1.75; Automatic Data Processing (ADP), consensus 60c; Praxair (PX), consensus $1.63; WellPoint (WLP), consensus $2.27; Exelon (EXC), consensus 73c; Eaton (ETN), consensus $1.23; Hess (HES), consensus $1.08; TE Connectivity (TEL), consensus $1.00; McGraw Hill Financial (MHFI), consensus 94c; Waste Management (WM), consensus 68c; Hershey (HSY), consensus $1.08; Ralph Lauren (RL), consensus $2.06; Wisconsin Energy (WEC), consensus 53c; Garmin (GRMN), consensus 71c; Sealed Air (SEE), consensus 46c; DENTSPLY (XRAY), consensus 60c; Goodyear Tire (GT), consensus 70c; Revlon (REV), one estimate 45c; Booz Allen (BAH), consensus 41c; Carlyle Group (CG), consensus 54c.

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