McGraw Hill Financial, Inc. (NYSE: MHFI) today reported third quarter 2013 results with revenue of $1.19 billion, an increase of 7% compared to the same period last year and 8% excluding the impact of the sale of Aviation Week. Net income and diluted earnings per share from continuing operations were $235 million and $0.84, respectively.
“The strength of our portfolio was clearly demonstrated this quarter as both S&P Dow Jones Indices and S&P Capital IQ delivered record quarterly revenue, and Commodities & Commercial Markets reported record adjusted operating margin, driving each of these segments to double-digit adjusted operating profit growth,” said Harold McGraw III, Chairman, President, and Chief Executive Officer of McGraw Hill Financial. “As a leader in providing ratings, benchmarks and analytics, McGraw Hill Financial offers investors a unique opportunity to benefit from the essential intelligence that we provide to our customers. This world-class portfolio of businesses is the culmination of my tenure as President and CEO of this Company. As Doug Peterson assumes his new role as President and CEO on November 1, I couldn’t be more pleased with his appointment or more proud of the strength of the portfolio we have assembled and the employees who made it happen.”
The Outlook: 2013 adjusted earnings per share guidance is increased to a range of $3.25 to $3.30 from $3.15 to $3.25 despite likely market volatility due in part to the Federal debt debate as well as evolving expectations for interest rates.
Source: McGraw Hill Financial Press Release