S&P Global Inc. reported fourth-quarter 2017 net income attributable to the company of $263 million, or $1.02 per share, down from $537 million, or $2.05 per share, in the year-ago period.
Fourth-quarter 2017 adjusted net income attributable to the company increased year over year to $474 million, or $1.85 per share, from $334 million, or $1.28 per share.
The S&P Capital IQ consensus normalized EPS estimate for the quarter was $1.61.
For the full year 2017, S&P Global reported net income attributable to the company of $1.50 billion, or $5.78 per share, down from $2.11 billion, or $7.94 per share, in 2016. Adjusted net income attributable to the company for 2017 also climbed year over year to $1.78 billion, or $6.89 per share, from $1.42 billion, or $5.35 per share.
The S&P Capital IQ consensus normalized EPS estimate for 2017 was $6.66.
Recently enacted federal tax reform led to a one-time charge of $149 million for the fourth quarter of 2017, which included a $173 million tax expense from deemed repatriation of foreign earnings. The reduction of the company's tax rate for 2018 is expected to result in approximately $200 million in additional free cash flow.
Additionally, S&P Global's board approved a regular quarterly cash dividend of 50 cents per share, up 22% from the previous payout of 41 cents per share. The increased dividend is payable March 12 to shareholders of record as of Feb. 26.
For 2018, the company expects reported revenue to increase by a mid-single-digits percentage. GAAP EPS is expected to be $8.15 to $8.30, and adjusted EPS is expected to be $8.45 to $8.60. Adjusted diluted EPS excludes amortization of intangibles related to acquisitions. Free cash flow excluding certain items is expected to be approximately $2.3 billion.
The S&P Capital IQ consensus normalized EPS estimate for 2018 is $7.38.
