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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.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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