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FactSet
🇺🇸 NYSE:FDS
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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.

Total Revenue
$542M
Previous year: $505M
+7.4%
EPS
$4.12
Previous year: $3.99
+3.3%
As Reported ASV
$2.18B
Previous year: $2B
+9.2%
Organic ASV
$2.19B
Previous year: $1.8B
+21.4%
Gross Profit
$291M
Previous year: $278M
+4.6%
Cash and Equivalents
$444M
Previous year: $437M
+1.6%
Free Cash Flow
$148M
Previous year: $88.7M
+67.4%
Total Assets
$3.95B
Previous year: $3.98B
-0.7%

FactSet

FactSet

FactSet 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).
  • GAAP operating margin is expected to be in the range of 32.5% to 33.0% (down from 33.1% to 33.5%).
  • Adjusted diluted EPS is expected to be in the range of $15.60 to $16.00 (down from $15.65 - $16.15).
  • The Company expects to take a $10 to 15 million charge during the second quarter of fiscal 2024.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View FactSet