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IHS Markit provides bullish guidance for fiscal 2017

Published 11/14/2016, 05:24 PM
Updated 11/14/2016, 05:24 PM
IHS Markit provides bullish guidance for fiscal 2017
  • IHS Markit (INFO -1.4%) has reaffirmed its 2016 guidance, and provided upbeat guidance for fiscal 2017.
  • For the current fiscal year (ending Nov. 30), the company continues to expect revenue trending slightly below its range of $2.735B-$2.765B (vs. consensus for $2.758B), adjusted EBITDA tracking to the midpoint of $975M-$995M (vs. expected $985.8M) and adjusted EPS from the midpoint to high end of a range of $1.72-$1.78 (vs. $1.75 expected).
  • For the 2017 fiscal year, it sees revenue (including total organic growth of 2-4%) headed to $3.49B-$3.56B, well above consensus of $3.08B; adjusted EBITDA of $1.375B-$1.4B (above expected $1.15B); and EPS of $2.02-$2.08, vs. consensus of $2.05.
  • In other measure for 2017, IHS Markit is forecasting a GAAP tax rate of 10-15% and an adjusted tax rate of 21-24%; capex of about 7-8% of revenue, and free cash flow/adjusted EBITDA in the high 50s to 60%.

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