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Nov 30, 2023
FactSet Q1 2024 Earnings Report
FactSet's Q1 2024 earnings were reported, with revenue up 7.4% and EPS up 9.1% year over year.
Key Takeaways
FactSet reported a revenue increase of 7.4% to $542.2 million and a GAAP diluted EPS increase of 9.1% to $3.84 for the first quarter of fiscal year 2024. The company's organic ASV plus professional services grew by 7.1% year over year. FactSet has updated its fiscal 2024 guidance, expecting ASV plus professional services growth of 5-7%, GAAP revenue growth of 5.5-6%, adjusted operating margin increase of 10-50 bps, and adjusted diluted EPS growth of 6-9%.
GAAP revenue increased by 7.4% to $542.2 million compared to the prior year period.
Organic revenue grew 7.2% year over year to $541.4 million.
GAAP diluted EPS increased 9.1% to $3.84 compared to the same period in fiscal 2023.
Organic ASV plus professional services was $2,185.0 million, up 7.1% year over year.
Revenue by Geographic Location
Forward Guidance
FactSet is updating its outlook for fiscal 2024. Organic ASV plus professional services is expected to grow in the range of $110 million to $150 million. GAAP revenues are expected to be in the range of $2,200 million to $2,210 million. Adjusted operating margin is expected to be in the range of 36.3% to 36.7%. Adjusted diluted EPS is expected to be in the range of $15.60 to $16.00.
Positive Outlook
- Organic ASV plus professional services is expected to grow in the range of $110 million to $150 million during fiscal 2024.
- GAAP revenues are expected to be in the range of $2,200 million to $2,210 million.
- GAAP operating margin is expected to be in the range of 32.5% to 33.0%.
- Adjusted operating margin is expected to be in the range of 36.3% to 36.7%.
- Adjusted diluted EPS is expected to be in the range of $15.60 to $16.00.
Challenges Ahead
- Organic ASV plus professional services growth reduced from $130 million to $175 million to $110 million to $150 million.
- GAAP revenues are expected to be in the range of $2,200 million to $2,210 million (down from $2,210 million to $2,230 million).
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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