Morningstar Q2 2024 Earnings Report
Key Takeaways
Morningstar, Inc. reported a 13.3% increase in revenue to $571.9 million and a significant rise in operating income, which increased by 160.2% to $108.5 million. Diluted net income per share increased by 90.5% to $1.60, and adjusted diluted net income per share increased by 54.6% to $2.01. The company's growth was primarily driven by Morningstar Credit, PitchBook, and Morningstar Data and Analytics.
Revenue increased by 13.3% to $571.9 million, with organic revenue growth of 13.6%.
Operating income increased by 160.2% to $108.5 million, and adjusted operating income increased by 87.9%.
Diluted net income per share increased by 90.5% to $1.60, and adjusted diluted net income per share increased by 54.6% to $2.01.
Free cash flow increased to $120.8 million, a significant improvement compared to the prior-year period.
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Morningstar Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income