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Mar 31, 2024
SS&C Q1 2024 Earnings Report
SS&C Technologies reported a strong start to the year with record adjusted revenues and solid organic growth.
Key Takeaways
SS&C Technologies Holdings, Inc. announced its Q1 2024 financial results, demonstrating strong performance with a 5.3% increase in GAAP revenue to $1,435.0 million and a 26.5% increase in fully diluted GAAP earnings per share to $0.62. The company also reported record adjusted revenue of $1,435.8 million, up 5.3%, and adjusted diluted earnings per share of $1.28, up 12.3%.
GAAP and Adjusted Revenue grew by 5.3 percent.
The company bought back 0.8 million shares for $52.9 million, at an average price of $63.24 per share.
SS&C paid down $79.9 million in debt.
GAAP net income attributable to SS&C was $157.6 million, up 25.1 percent and adjusted consolidated EBITDA attributable to SS&C of $556.8 million, up 9.4 percent.
SS&C
SS&C
SS&C Revenue by Segment
Revenue by Segment
Software-enabled services Revenue
CapyFin.comLicense, maintenance and related Revenue
CapyFin.com Forward Guidance
SS&C provides guidance for Q2 2024 and FY 2024. Adjusted Revenue is expected to be between $1,412.1 million and $1,452.1 million for Q2 2024 and between $5,694.6 million and $5,854.6 million for FY 2024. Adjusted Diluted Earnings per Share is expected to be between $1.16 and $1.22 for Q2 2024 and between $4.93 and $5.17 for FY 2024.
Positive Outlook
- Adjusted Revenue (Q2 2024): $1,412.1 – $1,452.1 million
- Adjusted Revenue (FY 2024): $5,694.6 – $5,854.6 million
- Adjusted Net Income attributable to SS&C (Q2 2024): $295.7 – $311.7 million
- Adjusted Net Income attributable to SS&C (FY 2024): $1,242.3 – $1,322.3 million
- Adjusted Diluted Earnings per Share (Q2 2024): $1.16 – $1.22
Challenges Ahead
- Interest Expense (Q2 2024): $112.1 - $114.1 million
- Interest Expense (FY 2024): $436.7 - $444.7 million
- Diluted Shares (Q2 2024): 253.7 – 254.7 million
- Diluted Shares (FY 2024): 252.2 – 255.3 million
- Capital Expenditures (% of revenue FY 2024): 4.3% – 4.7%
Revenue & Expenses
Visualization of income flow from segment revenue to net income