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Sep 30, 2022
Forrester Q3 2022 Earnings Report
Forrester's third quarter results for 2022 were announced, with revenue and contract value growth driving the results and guidance raised for the balance of the year.
Key Takeaways
Forrester Research reported solid financial results for Q3 2022, driven by a 7% increase in contract value and an 8% increase in revenue. The company's GAAP EPS was $0.28, and adjusted EPS was $0.57. Due to these results and effective cost management, Forrester is raising its guidance for the remainder of the year.
Total contract value increased by 7% year-over-year to $353 million.
Total revenues for the third quarter of 2022 were $127.7 million, compared to $118.1 million in 2021.
GAAP net income was $5.4 million, or $0.28 per diluted share, for Q3 2022, compared to $4.5 million, or $0.23 per diluted share, for the same period in 2021.
Adjusted net income was $10.9 million, or $0.57 per diluted share, for Q3 2022.
Revenue by Segment
Forward Guidance
Forrester provided financial guidance for the fourth quarter and full year of 2022.
Positive Outlook
- Total revenues of approximately $134 million to $144 million for Q4 2022.
- Operating margin of approximately 1.0% to 3.0% for Q4 2022.
- Adjusted operating margin of approximately 6.0% to 8.0% for Q4 2022.
- Total revenues of approximately $535 million to $545 million for full year 2022.
- Operating margin of approximately 7.0% to 8.0% for full year 2022.
Challenges Ahead
- Interest expense of approximately $0.7 million for Q4 2022.
- An effective tax rate of approximately 32% for Q4 2022.
- Earnings per share of approximately $0.03 to $0.13 for Q4 2022.
- Interest expense of approximately $2.5 million for full year 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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