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FactSet
🇺🇸 NYSE:FDS
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•
Feb 29, 2020

FactSet Q2 2020 Earnings Report

FactSet's revenue and EPS increased in the second quarter of 2020.

Key Takeaways

FactSet reported a 4.2% increase in revenue to $369.8 million and a 5.0% increase in diluted EPS to $2.30 for the second quarter ended February 29, 2020. The company's ASV plus professional services reached $1.50 billion, with organic growth driven by analytics, CTS, and wealth workflow solutions.

Revenue increased by 4.2% to $369.8 million compared to the same period in fiscal 2019.

ASV plus professional services was $1.50 billion at February 29, 2020, compared with $1.44 billion at February 28, 2019.

Diluted earnings per share (EPS) increased 5.0% to $2.30 compared with $2.19 for the same period in fiscal 2019.

The company's effective tax rate for the second quarter decreased to 14.0% compared with 18.8% a year ago.

Total Revenue
$370M
Previous year: $355M
+4.2%
EPS
$2.55
Previous year: $2.42
+5.4%
As Reported ASV
$1.5B
Previous year: $1.44B
+4.2%
Organic ASV
$1.5B
Previous year: $1.44B
+4.3%
Total Users
128.9K
Gross Profit
$194M
Previous year: $190M
+2.0%
Cash and Equivalents
$343M
Previous year: $218M
+57.3%
Free Cash Flow
$74.6M
Previous year: $87.3M
-14.6%
Total Assets
$1.83B
Previous year: $1.46B
+24.8%

FactSet

FactSet

FactSet Revenue by Geographic Location

Forward Guidance

FactSet updated its annual guidance for fiscal year 2020, anticipating impacts from the coronavirus pandemic.

Positive Outlook

  • GAAP revenue is expected to be in the range of $1.49 billion and $1.50 billion.
  • GAAP operating margin is expected to be in the range of 28.5% and 29.5%.
  • Adjusted operating margin is expected to be in the range of 31.5% and 32.5%.
  • Annual effective tax rate is expected to be in the range of 17.0% and 17.5%.
  • GAAP diluted EPS is expected to be in the range of $8.70 and $9.00.

Challenges Ahead

  • Organic ASV plus professional services is now expected to increase in the range of $50 million and $75 million over fiscal 2019.
  • The change in the anticipated range reflects the current expected business impacts resulting from the coronavirus pandemic.
  • Given the risk factors, uncertainties, and assumptions discussed below, particularly the ongoing uncertainty surrounding the duration, magnitude, and impact of the novel coronavirus pandemic, FactSet’s actual future results may differ materially from these expectations.
  • FactSet currently does not intend to update its forward-looking statements until its next quarterly results announcement other than in publicly available statements.
  • Adjusted diluted EPS is expected to be in the range of $9.85 and $10.15.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View FactSet