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Last $98.14 USD
Change Today -1.45 / -1.46%
Volume 1.4M
MHFI On Other Exchanges
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As of 1:40 PM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

mcgraw hill financial inc (MHFI) Key Developments

McGraw Hill Financial, Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2015; Maintains Earnings Guidance for the Year 2015

McGraw Hill Financial, Inc. reported unaudited consolidated financial results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $1,342 million against $1,302 million a year ago. Operating profit was $582 million against $476 million a year ago. Income from continuing operations before taxes on income was $566 million against $462 million a year ago. Income from continuing operations was $381 million against $310 million a year ago. Net income attributable to common shareholders was $353 million or $1.28 per diluted share against $292 million or $1.06 per diluted share a year ago. Earnings per diluted share attributable to the company’s common shareholders from continuing operations were $1.28 against $1.04 a year ago. Operating profit after Non-GAAP adjustments was $552 million against $476 million a year ago. Income before taxes on income after Non-GAAP adjustments was $536 million against $462 million a year ago. Income from continuing operations after Non-GAAP adjustments was $363 million against $310 million a year ago. Net income attributable to the company after Non-GAAP adjustments was $335 million or $1.21 per diluted share against $286 million or $1.04 per diluted share a year ago. Earnings per diluted share attributable to the company after Non-GAAP adjustments from continuing operations were $1.21 against $1.04 a year ago. The adjustments in the second quarter of 2015, which netted to a gain, were primarily related to insurance recoveries related to legal settlements, additional restructuring actions, and a gain on the sale of a legacy construction business asset. For the six months, the company reported revenue of $2,615 million against $2,498 million a year ago. Operating profit was $1,083 million against $896 million a year ago. Income from continuing operations before taxes on income was $1,051 million against $868 million a year ago. Income from continuing operations was $711 million against $578 million a year ago. Net income attributable to common shareholders was $656 million or $2.38 per diluted share against $540 million or $1.95 per diluted share a year ago. Earnings per diluted share attributable to the company’s common shareholders from continuing operations were $2.38 against $1.91 a year ago. Cash used in operating activities from continuing operations was $897 million against cash provided by operating activities from continuing operations of $446 million a year ago. Capital expenditures were $42 million against $37 million a year ago. Operating profit after Non-GAAP adjustments was $1,047 million against $896 million a year ago. Income before taxes on income after Non-GAAP adjustments was $1,015 million against $868 million a year ago. Income from continuing operations after Non-GAAP adjustments was $689 million against $578 million a year ago. Net income attributable to the company after Non-GAAP adjustments was $634 million or $2.30 per diluted share against $528 million or $1.91 per diluted share a year ago. Earnings per diluted share attributable to the company after Non-GAAP adjustments from continuing operations were $2.30 against $1.91 a year ago. The company is maintaining its full-year 2015 guidance for adjusted earnings per share in the range of $4.35 to $4.45 despite anticipated dilution of $0.05 to $0.07 from the SNL Financial acquisition.

McGraw Hill Financial, Inc. to Report Q2, 2015 Results on Jul 27, 2015

McGraw Hill Financial, Inc. announced that they will report Q2, 2015 results at 7:30 AM, Eastern Daylight on Jul 27, 2015

McGraw Hill Financial, Inc., Q2 2015 Earnings Call, Jul 27, 2015

McGraw Hill Financial, Inc., Q2 2015 Earnings Call, Jul 27, 2015

McGraw Hill Financial, Inc. Enters into Revolving $1,200,000,000 Five-Year Credit Agreement

On June 30, 2015, McGraw Hill Financial, Inc. entered into a revolving $1,200,000,000 five-year credit agreement, dated as of June 30, 2015, by and among the company, Standard & Poor’s Financial Services LLC (S&P), a wholly-owned subsidiary of the company, as guarantor, the lenders party thereto and JPMorgan Chase Bank, N.A. as administrative agent. The credit agreement replaces the company’s existing $1,000,000,000 four-year credit agreement, dated as of June 19, 2013. The credit agreement contains customary affirmative and negative covenants and customary events of default. The occurrence of an event of default could result in an acceleration of the obligations under the credit agreement.

McGraw Hill Financial Approves Change of Principal Place of Business; Files Certificate of Change of Certificate of Incorporation

On June 24, 2015, the Board of Directors of McGraw Hill Financial, Inc. voted to approve the change of the company's principal place of business from 1221 Avenue of the Americas, New York, New York 10020 to 55 Water Street, New York, New York 10041, effective July 1, 2015. The company filed a Certificate of Change of the Company's Certificate of Incorporation, as approved by the Board of Directors, with the Department of State of the State of New York on July 1, 2015.

 

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MHFI

Industry Average

Valuation MHFI Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 5.6x
Price/Book 53.6x
Price/Cash Flow 390.5x
TEV/Sales 5.0x
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