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Sep 30, 2023
SS&C Q3 2023 Earnings Report
SS&C Technologies reported a revenue increase of 3.4% and an adjusted EPS increase of 1.7% for Q3 2023.
Key Takeaways
SS&C Technologies announced its Q3 2023 financial results, with GAAP revenue reaching $1,365.9 million, a 3.4% increase, and adjusted diluted earnings per share of $1.17, up by 1.7%. The company bought back 1.7 million shares for $96.9 million and paid down $54.7 million in debt.
GAAP Revenue and Adjusted Revenue both grew by 3.4%.
The company repurchased 1.7 million shares for $96.9 million.
Debt was reduced by $54.7 million.
GAAP net income was $156.0 million, while adjusted consolidated EBITDA was $533.9 million.
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 provided guidance for Q4 2023 and FY 2023, including adjusted revenue, adjusted net income, interest expense, adjusted diluted earnings per share, cash from operating activities, capital expenditures, diluted shares, and effective income tax rate.
Positive Outlook
- Adjusted Revenue (Q4 2023): $1,370.0M - $1,410.0M
- Adjusted Revenue (FY 2023): $5,463.5M - $5,503.5M
- Adjusted Net Income attributable to SS&C (Q4 2023): $305.0M - $327.0M
- Adjusted Net Income attributable to SS&C (FY 2023): $1,159.9M - $1,181.9M
- Adjusted Diluted Earnings per Share attributable to SS&C (Q4 2023): $1.21 – $1.29
Challenges Ahead
- Interest Expense (Q4 2023): $116.0M - $119.0M
- Interest Expense (FY 2023): $456.3M - $459.3M
- Capital Expenditures (% of revenue) (FY 2023): 3.9% – 4.1%
- Diluted Shares (M) (Q4 2023): 252.0 – 254.0
- Diluted Shares (M) (FY 2023): 254.5 – 255.0
Revenue & Expenses
Visualization of income flow from segment revenue to net income