IHS Posts In-Line Q1 Earnings, But Lowers Outlook

reported in-line earnings for the fiscal first quarter and lowered its outlook for the year. For fiscal 2015, IHS now projects adjusted earnings of $5.77 to $5.97 per share, versus its prior forecast of $6.10 to $6.30 per share. The company now projects revenue of $2.27 billion to $2.31 billion, versus its earlier outlook of $2.36 billion to $2.40 billion. Analysts had expected earnings of $6.18 per share on revenue of $2.36 billion. The Englewood, Colorado-based company posted a quarterly profit of $39.5 million, or $0.57 per share, versus a year-ago profit of $32.4 million, or $0.47 per share. Excluding items, the company's earnings jumped to $1.36 per share from $1.28 per share. Its revenue rose 4% to $546.3 million, while organic revenue climbed 2%. However, analysts were projecting earnings of $1.36 per share on revenue of $552.7 million. Its subscription revenue jumped 7% on an organic basis to $447.8 million. Revenue for Americas surged 4% to $366 million, while revenue for EMEA came in unchanged at $127 million in the quarter. Revenue for APAC jumped 13% to $53 million in the first quarter. Adjusted EBITDA rose 8% to $169 million in the quarter. "Solid subscription organic growth was led by our Industrials, while overall growth was muted by energy headwinds," said Scott Key, IHS president and chief executive officer. "We remain very confident in the resiliency of our strategy and business model; this was demonstrated by positive trends in some of our key performance metrics." IHS shares fell 0.16% to close at $118.99 yesterday.