S&P Global reported third quarter 2021 results with revenue of $2,087 million, an increase of 13% compared to the same period last year, with every segment delivering revenue growth. Net income increased 75% to $797 million and diluted earnings per share increased 75% to $3.30 primarily due to the debt tender premium and fees associated with the senior notes tender offer in the prior period.
Because the S&P Global now anticipates the closing of the merger with IHS Markit in 2022, the management is able to provide 2021 GAAP guidance for the first time. 2021 reported revenue is expected to increase low double-digits. GAAP EPS guidance is expected to be in a range of $12.50 to $12.65.
S&P Global is providing adjusted guidance on a stand-alone basis that excludes merger expenses, and amortization of intangibles related to acquisitions. Adjusted diluted EPS guidance has been increased by $0.50 to $0.55 to a new range of $13.50 to $13.65. Guidance for free cash flow excluding certain items has also been increased to a new range of $3.6 billion to $3.7 billion.
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