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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.
FactSet
FactSet
FactSet Revenue by Geographic Location
Revenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com 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