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Feb 29, 2024
FactSet Q2 2024 Earnings Report
Reported results for the second quarter of fiscal year 2024, with revenue up 6.0% year over year.
Key Takeaways
FactSet reported Q2 2024 results with GAAP revenues of $545.9 million, a 6.0% increase from Q2 2023. Organic ASV plus professional services reached $2,209.5 million, up 5.4% year over year. GAAP diluted EPS increased by 8.0% to $3.65, and adjusted diluted EPS rose by 11.1% to $4.22.
GAAP revenues increased 6.0% to $545.9 million compared to the prior year period.
Organic revenues grew 6.0% year over year to $546.1 million.
GAAP operating margin increased to 33.3% compared to 32.9% for the prior year.
GAAP diluted EPS increased 8.0% to $3.65 compared to the same period in fiscal 2023.
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 anticipates finishing fiscal year 2024 at the lower end of the guidance range for Organic ASV plus professional services growth and GAAP revenues.
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%.
- FactSet's annual effective tax rate is expected to be in the range of 16.5% to 17.5%.
Challenges Ahead
- The Company incurred an approximately $11 million personnel related charge during the second quarter of fiscal 2024 as part of a broader cost optimization program.
- Actual results may differ materially from those anticipated in forward-looking statements
- The company does not undertake to update forward-looking statements.
- The forward looking statements reflect FactSet's expectations as of today's date.
- Given the risk factors, uncertainties, and assumptions discussed, actual results may differ materially.
Revenue & Expenses
Visualization of income flow from segment revenue to net income