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Dec 31, 2023
SS&C Q4 2023 Earnings Report
SS&C announced its Q4 2023 earnings, showcasing revenue growth and strategic capital allocation.
Key Takeaways
SS&C Technologies reported a 5.5% increase in GAAP revenue, reaching $1,411.6 million for Q4 2023. The company bought back 2.4 million shares for $130.7 million and paid down $150.2 million in debt. GAAP net income attributable to SS&C was $194.4 million, a decrease of 6.3%.
GAAP revenue grew by 5.5% to $1,411.6 million.
Adjusted revenue increased by 5.5% to $1,412.3 million.
The company repurchased 2.4 million shares for $130.7 million.
Debt was reduced by $150.2 million, bringing the net leverage ratio to 3.05 times consolidated EBITDA.
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 Q1 2024 and FY 2024, 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 (Q1 2024): $1,396.7M - $1,436.7M
- Adjusted Revenue (FY 2024): $5,667.7M - $5,867.7M
- Adjusted Net Income attributable to SS&C (Q1 2024): $300.5M - $316.5M
- Adjusted Net Income attributable to SS&C (FY 2024): $1,221.4M - $1,321.4M
- Adjusted Diluted Earnings per Share attributable to SS&C (FY 2024): $4.85 – $5.15
Challenges Ahead
- Interest Expense (Q1 2024): $112.6M - $114.6M
- Interest Expense (FY 2024): $437.9M - $447.9M
- Cash from Operating Activities (FY 2024): $1,292.0M - $1,392.0M
- Capital Expenditures (% of revenue) (FY 2024): 4.3% – 4.7%
- Effective Income Tax Rate (FY 2024): 26%
Revenue & Expenses
Visualization of income flow from segment revenue to net income