https://assets.capyfin.com/instruments/678fdc13234e27009c5d5b30.png avatar
FactSet
🇺🇸 NYSE:FDS
View Company
OverviewEarningsDividends
•
Feb 28, 2023

FactSet Q2 2023 Earnings Report

FactSet reported an increase in GAAP revenues and organic revenues, with improvements in operating margin and EPS.

Key Takeaways

FactSet reported strong second-quarter results, with GAAP revenues up 19.5% to $515.1 million and organic revenue growth of 8.9%. The company's GAAP operating margin increased to 32.9%, and GAAP diluted EPS rose to $3.38, up 19.0% from the prior year. FactSet is updating its fiscal 2023 guidance, expecting ASV + professional services growth of 7% - 9%, adjusted operating margin of 34%-35% and adjusted diluted EPS growth of 8% - 11%.

GAAP revenues increased 19.5% to $515.1 million.

Organic revenues grew 8.9% to $469.5 million.

GAAP operating margin increased to 32.9%.

GAAP diluted EPS increased 19.0% to $3.38.

Total Revenue
$515M
Previous year: $431M
+19.5%
EPS
$3.8
Previous year: $3.27
+16.2%
As Reported ASV
$2.07B
Previous year: $1.75B
+18.5%
Organic ASV
$1.9B
Previous year: $1.74B
+9.1%
Gross Profit
$274M
Previous year: $232M
+18.4%
Cash and Equivalents
$445M
Previous year: $773M
-42.4%
Free Cash Flow
$147M
Previous year: $110M
+33.8%
Total Assets
$4B
Previous year: $2.37B
+68.5%

FactSet

FactSet

FactSet Revenue by Geographic Location

Forward Guidance

FactSet is updating its outlook for fiscal 2023. Organic ASV plus professional services is expected to be in the range of $145 million to $175 million. GAAP revenues are expected to be in the range of $2,080 million to $2,100 million. Adjusted diluted EPS is expected to be in the range of $14.50 to $14.90.

Positive Outlook

  • Organic ASV plus professional services is expected to be in the range of $145 million to $175 million.
  • GAAP revenues are expected to be in the range of $2,080 million to $2,100 million.
  • Adjusted operating margin is expected to be in the range of 34.0% to 35.0%.
  • FactSet's annual effective tax rate is expected to be in the range of 13.5% to 14.5%.
  • Adjusted diluted EPS is expected to be in the range of $14.50 to $14.90.

Challenges Ahead

  • Organic ASV growth deceleration of 100 basis points when compared to previous guidance of $150 million to $180 million, due to an expected decline in ASV growth in the core business during the second half of the fiscal year.
  • GAAP operating margin is expected to be in the range of 29.5% to 30.5%.
  • GAAP diluted EPS is expected to be in the range of $12.45 to $12.85.
  • Given the risk factors, uncertainties, and assumptions discussed in the release, actual results may differ materially.
  • FactSet does not intend to update its forward-looking statements prior to its next quarterly results announcement.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View FactSet