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Sep 30, 2020
Morningstar Q3 2020 Earnings Report
Morningstar's financial performance increased in Q3 2020, driven by revenue growth and strategic acquisitions.
Key Takeaways
Morningstar, Inc. reported a 13.8% increase in revenue to $357.2 million for the third quarter of 2020. The company's net income was $76.2 million, or $1.76 per diluted share, which included a $1.18 per share holding gain related to Morningstar's previously held equity interest in Sustainalytics. Adjusted operating income increased by 42.3% to $91.2 million, and adjusted diluted net income per share increased by 46.2% to $1.55.
Revenue increased by 13.8% to $357.2 million, with organic revenue growth of 8.0%.
License-based revenue grew by 18.7%, driven by PitchBook, Morningstar Data, and Morningstar Direct.
Net income was $76.2 million, or $1.76 per diluted share, including a gain from Sustainalytics.
Adjusted operating income increased by 42.3% to $91.2 million, with an adjusted operating margin of 25.6%.
Revenue by Segment
Forward Guidance
This press release contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance, including the impacts of the current COVID-19 pandemic.
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
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