S&P Global Inc. (NYSE:SPGI) Q3 2016 Earnings Conference Call - Final Transcript

Nov 03, 2016 • 08:30 am ET


S&P Global Inc. (NYSE:SPGI) Q3 2016 Earnings Conference Call - Final Transcript


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Good morning, and welcome to S&P Global's Third Quarter 2016 Earnings Conference Call. I'd like to inform you that this call is being recorded for broadcast. All participants are in a listen-only mode. We will open the conference to questions-and-answers after the presentation and instructions will follow at that time. To access the webcast and slides, go to investor.spglobal.com that is investor.spglobal.com and click on the link for the quarterly earnings webcast. [Operator Instructions].

I would now like to introduce Mr. Chip Merritt, Vice President of Investor Relations for S&P Global. Sir, you may begin.

Chip Merritt

Thank you and good morning. We apologize for the technical difficulties, we'll try this again. Thanks for joining us for S&P Global Earnings Call. Presenting on this morning's call are Doug Peterson, President and CEO; and Rob MacKay, Interim Chief Financial Officer.

This morning, we issued a news release for our third quarter 2016 results. If you need a copy of the release and financial schedules, they can be downloaded at investor.spglobal.com.

In today's earnings release and during the conference call, we'll provide an adjusted financial information. This information is provided to enable investors to make meaningful comparison of the corporation's operating performance between periods and to view the corporation's business from the same perspective as management's. The earnings release contains Exhibits that reconcile the difference between the non-GAAP measures and the comparable financial measures calculated in accordance with US GAAP.

Before we begin, I need to provide certain cautionary remarks about forward-looking statements. Except for historical information, the matters discussed in the teleconference may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including projections, estimates, and description of future events. Any such statements are based on current expectations and current economic conditions and are subject to risk and uncertainties that may cause actual results to differ materially from results anticipated in these forward-looking statements. In this regard, we direct listeners to the cautionary statements contained in our Form 10-Ks, 10-Qs, and other periodic reports filed with the US Securities and Exchange Commission.

I would also like to call your attention to European regulation. Any investor who has or expects to obtain ownership of 5% or more of S&P Global should give me a call to better understand the impact of this legislation on the investor and potentially the company. We're aware that we do have some media representatives with us on the call. However, this call is intended for investors. And we would ask that questions from the media be directed to Jason Feuchtwanger at 212-438-1247.

At this time, I would like to turn the call over to Doug Peterson. Doug?

Doug Peterson

Good morning. Thank you, Chip. Welcome everyone to the call. This morning Rob Mackay, our Interim CFO, has joined us to cover the financial portion of our third quarter results and you will hear from him shortly.

But let me begin with the highlights. We completed several business divestitures with the sales of J.D. Power, our two