(RTTNews) - While reporting its financial results for the third quarter on Tuesday, S&P Global (SPGI) lowered its outlook for fiscal 2020 reported earnings to a range of $10.00 to $10.15 per share, from the prior range of $10.25 to $10.45 per share. The company noted that the outlook does not reflect potential future impairment charges relating to the new productivity program that are not quantifiable at this time.
However, based on its strong year-to-date financial performance and its expectation for the remainder of the year, S&P Global raised its outlook for full-year adjusted earnings to a range of $11.30 to $11.45 per share, from the prior range of $10.75 to $10.95 per share.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.11 per share for the year. Analysts' estimates typically exclude special items.
S&P Global also said it is establishing a new productivity program targeting savings in real estate, procurement, T&E, and IT infrastructure. This program will be completed in two to three years, with estimated annual savings of $120 million.