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IHS Markit (NYSE: INFO) announced that Jonathan Gear, EVP and CFO, along with Adam Kansler, President of Financial Services, will present at the Goldman Sachs Technology and Internet Conference on February 10, 2021, at 8:50 a.m. ET. A live webcast will be accessible on their Investor Relations website, with a replay available for 90 days post-event. IHS Markit, headquartered in London, provides critical information and analytics to over 50,000 customers globally, including 80% of the Fortune Global 500, enhancing decision-making and operational efficiency.
Due to COVID-19 pandemic restrictions, Americans are driving almost 2,000 miles less annually. Despite reduced mileage, vehicle maintenance remains crucial. CARFAX emphasizes that automakers set service schedules based on time or mileage. Regular maintenance, including oil changes at least once a year, tire rotations, and monthly tire pressure checks, is essential for vehicle longevity and performance. Proper upkeep ensures vehicles remain valuable and functional, regardless of mileage. CARFAX, part of IHS Markit, offers innovative solutions powered by vehicle history information to help consumers navigate used car services.
C.A.R.Score, a division of Dealer Specialties, has integrated its vehicle condition reports into the CARFAX Vehicle History Report. This partnership aims to enhance consumer confidence by providing detailed assessments of a vehicle's condition, including ratings and visual damage documentation. The reports will remain accessible indefinitely in the CARFAX database. This initiative is especially relevant in the current automotive market impacted by COVID-19, as it offers transparency to dealers and buyers. The enhanced reports are expected to empower consumers in their online purchasing decisions.
IHS Markit (NYSE: INFO) announced a quarterly cash dividend of $0.20 per share for Q1 2021. This dividend will be payable on February 12, 2021, to shareholders on record by January 29, 2021. Notably, the Markit Group Holdings Limited Employee Benefit Trust has waived its right to receive this dividend. The announcement also includes forward-looking statements regarding business performance, strategic actions, and potential risks associated with upcoming merger activities with S&P Global.
IHS Markit (NYSE: INFO) reported Q4 2020 results showing revenue of $1.107 billion, a slight decline of 1% from the previous year, with net income down 26% to $151 million and diluted EPS at $0.38. Adjusted EBITDA rose 3% to $465 million, and free cash flow improved 87% to $275 million. The Financial Services segment saw a 7% revenue increase, while Resources and Transportation segments faced declines. The company plans to provide FY2021 guidance on January 13, 2021, amid signs of recovery in some markets.
CME Group and IHS Markit have announced a joint venture to enhance post-trade services in the OTC markets. This new company will integrate CME's Traiana, TriOptima, and Reset with IHS Markit's MarkitSERV. Emphasizing efficiency in trade processing, the joint venture aims to streamline workflows and improve risk management for clients in diverse asset classes. IHS Markit will make a $113 million equalization payment to achieve shared ownership. The venture is expected to close in summer 2021, pending regulatory approvals.
CME Group and IHS Markit have announced a joint venture combining their post-trade services, enhancing trade processing and risk mitigation operations. The new entity will integrate CME's Traiana, TriOptima, and Reset with IHS Markit's MarkitSERV, streamlining operations for global OTC markets across various asset classes. The transaction is set to close in summer 2021, pending regulatory approvals, with an equalization payment of $113 million from IHS Markit to achieve shared control of the venture.
IHS Markit (NYSE: INFO) has acquired compliance technology provider Cappitech to enhance its regulatory reporting services for the financial sector. Cappitech offers a scalable, cloud-based platform for transaction reporting across jurisdictions, currently utilized by over 200 global financial entities. This acquisition builds on their previous collaboration in 2019, reinforcing IHS Markit's commitment to delivering integrated regulatory solutions. The financial terms of the deal remain undisclosed, but the merger is expected to accelerate product enhancements and improve customer compliance efficiency.
The Paychex | IHS Markit Small Business Employment Watch report shows a 0.24% decline in the Jobs Index for December, landing at 94.06, a 4.18% decrease year-over-year. Weekly hours worked fell to -0.27%, while hourly earnings growth decelerated to 2.63%. The South was the only region to see job growth, with Florida leading among states at 97.00. The report highlights the ongoing impact of COVID-19, as jobs and wage growth continue to decline amid increasing cases and state restrictions.
The formation of a new technology-led company, HUB, has been announced by PIMCO, Man Group, IHS Markit, State Street, Microsoft, and McKinsey. HUB aims to revolutionize asset managers' operations by providing a cloud-based operating platform on Microsoft Azure. This innovative platform will offer flexible solutions for middle and back office functions, reducing costs and improving efficiency. Emphasizing a 'data-first approach,' HUB intends to address operational challenges and enhance service delivery, although specific financial terms have not been disclosed.
