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FactSet
🇺🇸 NYSE:FDS
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May 31, 2022

FactSet Q3 2022 Earnings Report

Reported a revenue increase driven by the acquisition of CUSIP Global Services (CGS) and higher sales of research and advisory and analytics solutions, with organic ASV growth demonstrating the value of the company's offerings.

Key Takeaways

FactSet reported GAAP revenues of $488.8 million, a 22.3% increase from Q3 2021. Organic ASV plus professional services reached $1.8 billion, up 10.1% year over year. The company reaffirmed its fiscal 2022 guidance, expecting growth at the upper end and the effective tax rate at the lower end of previously communicated ranges.

GAAP revenues increased 22.3% to $488.8 million compared to the same period in fiscal 2021.

Organic revenue grew 10.5% to $441.7 million during the third quarter of fiscal 2022.

Organic ASV plus professional services was $1.8 billion at May 31, 2022, up 10.1% from the prior year.

Adjusted diluted EPS increased 38.2% to $3.76 compared with the prior year period.

Total Revenue
$489M
Previous year: $400M
+22.3%
EPS
$3.76
Previous year: $2.72
+38.2%
As Reported ASV
$1.9B
Previous year: $1.62B
+17.5%
Organic ASV
$1.8B
Previous year: $1.61B
+11.7%
Total Users
173.7K
Previous year: 155K
+12.1%
Gross Profit
$266M
Previous year: $194M
+37.0%
Cash and Equivalents
$527M
Previous year: $658M
-20.0%
Free Cash Flow
$177M
Previous year: $122M
+45.1%
Total Assets
$4.07B
Previous year: $2.22B
+83.4%

FactSet

FactSet

FactSet Revenue by Geographic Location

Forward Guidance

FactSet reaffirms its annual outlook for fiscal 2022, anticipating operating results to trend towards the upper end of previously announced ranges, except for the effective tax rate, which is expected to be at the lower end of the range.

Positive Outlook

  • Organic ASV plus professional services is expected to increase in the range of $130 million to $150 million over fiscal 2021.
  • Revenues are expected to be in the range of $1,800 million to $1,830 million.
  • Operating margin is expected to be in the range of 25.5% to 26.5%.
  • Adjusted operating margin is expected to be in the range of 33% to 34%.
  • FactSet's annual effective tax rate is expected to be in the range of 12.5% to 13.5%.

Challenges Ahead

  • Diluted EPS is expected to be in the range of $9.75 to $10.15.
  • Adjusted diluted EPS is expected to be in the range of $12.75 to $13.15.
  • Operating margin guidance does not include certain effects of any non-recurring benefits or charges that may arise in fiscal 2022.
  • Diluted EPS guidance does not include certain effects of any non-recurring benefits or charges that may arise in fiscal 2022.
  • The forward-looking statements reflect FactSet's expectations as of today's date and actual results may differ materially.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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