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According to the latest data from Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO), U.S. gasoline sales have turned positive year-on-year for the first time since the COVID-19 pandemic began. For the week ending March 20, 2021, same-store gasoline sales were up 10.1% compared to 2020 but still 16% below pre-pandemic levels. Regional variations in recovery are significant, with the Southwest surpassing 2020 levels by 15%, while the Southeast lagged at 8.6%. Experts remain cautious about a full recovery due to potential changes in consumer behavior and employment patterns.
IHS Markit (NYSE: INFO) announced Q1 2021 results, reporting revenue of $1.120 billion, reflecting a 3% organic growth year-over-year. Net income dropped significantly to $149 million, down 69%, with diluted earnings per share at $0.37. Adjusted EBITDA increased by 8% to $467 million, and adjusted EPS rose to $0.71. Cash flow from operations surged 105% to $245 million, indicating robust operational performance. Despite a decline in Resources revenue by 10%, Financial Services and Transportation segments showed strong growth, contributing positively to overall performance.
CARFAX has announced its second annual Top-Rated Dealer Program, honoring an exclusive group of dealerships based on verified customer ratings. Dealers in this program averaged 4.6 stars out of five, highlighting exceptional service and customer care. The program is supported by over 2.2 million customer reviews across the nation, providing recognition to those who excel in customer satisfaction. Awarded dealers will gain access to custom digital assets to showcase their ratings, enhancing their online presence and customer trust.
IHS Markit (NYSE: INFO) announced that 98.95% of shareholders voted in favor of its merger with S&P Global. Each IHS Markit share will be exchanged for 0.2838 shares of S&P Global common stock. The merger is expected to close in the second half of 2021, contingent on regulatory approvals and customary closing conditions. Chairman and CEO Lance Uggla expressed gratitude for the support, emphasizing benefits for customers, employees, and shareholders. The merger aims to enhance operational efficiencies and consolidate market presence.
IHS Markit (NYSE: INFO) plans to launch a global meta-registry for carbon credits, aiming to enhance transparency and efficient tracking of carbon credit transactions. The initiative involves an Advisory Board with experts from various sectors, including NGOs and private companies such as Bank of America and Microsoft. Leveraging distributed ledger technology, the meta-registry seeks to connect independent carbon markets worldwide, reducing the risk of double counting credits. The launch is set for early 2021 and aims to support companies in achieving their net-zero emissions commitments.
CARFAX has partnered with Origence to enhance access to vehicle history data for financial institutions, utilizing Origence's consumer loan origination system (LOS) for indirect auto loans. This integration allows auto lenders to access CARFAX Vehicle History Reports seamlessly, improving the lending experience for credit unions and their members. With over 25 billion vehicle history records, CARFAX aims to streamline the loan approval process and enhance risk management for lenders.
Paychex and IHS Markit released the February 2021 Small Business Employment Watch, indicating small business hiring is relatively stable, with the Small Business Jobs Index modestly declining by 0.03% to 93.97, 4.43% below pre-pandemic levels. Positive trends include hourly earnings growth at 2.91% and weekly earnings growth surpassing 3% for the first time since September 2020. Despite some regional differences, construction shows strong job growth, leading all sectors.
IHS Markit (NYSE: INFO) announced its 25th annual Automotive Loyalty Awards, recognizing General Motors as the top manufacturer for automotive loyalty in the U.S. in 2020, marking GM's sixth consecutive win with a 69% customer retention rate. Ford led in the 'Overall Loyalty to Make' category with 63% loyalty, while Tesla excelled in the newly introduced 'Alternative Powertrain Loyalty to Make' category at 55%. The awards highlighted significant trends, including ethnic consumer loyalty, with Ford and Toyota tied for African American loyalty. Alfa Romeo won 'Most Improved Make Loyalty' with a 9-point increase.
IHS Markit (NYSE: INFO) will announce its financial results for Q1 2021 on March 23, 2021, before the market opens. Investors can join a conference call and webcast at 8:00 am ET on the same day to hear senior management discuss the results. A replay of the event will be available approximately two hours post-conclusion. IHS Markit provides critical information, analytics, and solutions across various industries, serving over 50,000 customers, including 80% of Fortune Global 500 companies.
Prime Minister of India, Hon. Shri Narendra Modi, will deliver a keynote address at CERAWeek by IHS Markit 2021, scheduled virtually from March 1-5. He will receive the CERAWeek Global Energy and Environment Leadership Award on March 5, recognizing his dedication to sustainability. CERAWeek is an annual international gathering of energy industry leaders, focusing on energy transition, geopolitics, and sustainable development. The event will feature over 245 speakers from various countries, including notable figures such as John F. Kerry and Bill Gates.
