Loading...
•
Sep 30, 2023
Forrester Q3 2023 Earnings Report
Forrester's Q3 2023 financial results were announced, revealing flat contract value and decreased revenue compared to the previous year.
Key Takeaways
Forrester Research reported its Q3 2023 financial results, showing a decrease in revenue to $113.4 million compared to $127.7 million in the same quarter of the prior year. The contract value remained flat at $349.4 million. Net income also decreased to $2.5 million, or $0.13 per diluted share, compared to $5.4 million, or $0.28 per diluted share, in Q3 2022.
Total revenue decreased to $113.4 million, compared to $127.7 million in the same quarter last year.
Net income decreased to $2.5 million, or $0.13 per diluted share, compared to $5.4 million, or $0.28 per diluted share, for the same period in 2022.
Adjusted net income was $8.6 million, or $0.44 per diluted share, compared to $10.9 million, or $0.57 per diluted share, for the same period in 2022.
Contract value remained flat at $349.4 million compared to the prior year.
Revenue by Segment
Forward Guidance
Forrester is providing updated guidance for 2023.
Positive Outlook
- Total revenues of approximately $475 million to $485 million
- Operating margin of approximately 1.2% to 2.2%
- Interest expense of approximately $3.1 million
- An effective tax rate of approximately 50%
- Earnings per share of approximately $0.10 to $0.30
Challenges Ahead
- Adjusted operating margin of approximately 10.5% to 11.5%
- Adjusted effective tax rate of approximately 29%
- Adjusted diluted earnings per share of approximately $1.80 to $2.00
- Stock-based compensation expense of $15.0 million to $15.5 million
- Amortization of acquisition-related intangible assets of approximately $12.0 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...