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Sep 30, 2022
SS&C Q3 2022 Earnings Report
SS&C Technologies reported a revenue increase of 4.5% and an EPS decrease of 11.6% for Q3 2022.
Key Takeaways
SS&C Technologies announced its Q3 2022 financial results, with GAAP revenue reaching $1,321.0 million, a 4.5% increase year-over-year. However, fully diluted GAAP earnings per share decreased by 11.6% to $0.61. The company's results were impacted by weak market conditions, FX headwinds and rising interest rates.
Total company revenue growth was 7.5% on a constant currency basis.
Organic growth was 1.6%, with strong performance from Advent, I&IM, Private Markets, and Retirement solutions.
Financial services organic growth, excluding the healthcare business, was 3.3%, representing 94% of revenues.
The company bought back 3.7 million shares for $214.5 million, at an average price of $57.62 per share.
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 Technologies provided guidance for Q4 2022 and full year 2022, including adjusted revenue, adjusted net income, adjusted diluted earnings per share, cash from operating activities, capital expenditures, diluted shares, and effective income tax rate.
Positive Outlook
- Q4 2022 Adjusted Revenue: $1,305.0 – $1,355.0 million
- Q4 2022 Adjusted Net Income attributable to SS&C: $285.3 – $307.5 million
- Q4 2022 Adjusted Diluted Earnings per Share attributable to SS&C: $1.12 – $1.20
- FY 2022 Adjusted Revenue: $5,253.0 – $5,303.0 million
- FY 2022 Adjusted Net Income attributable to SS&C: $1,208.2 – $1,230.4 million
Challenges Ahead
- FY 2022 Adjusted Diluted Earnings per Share attributable to SS&C: $4.62 – $4.70
- FY 2022 Capital Expenditures (% of revenue): 3.9% – 4.1%
- Q4 2022 Diluted Shares: 255.0 – 257.0 million
- FY 2022 Diluted Shares: 261.5 – 262.0 million
- Effective Income Tax Rate: 26%
Revenue & Expenses
Visualization of income flow from segment revenue to net income