FactSet Research Systems Inc. (FDS) has had an impressive run over the past year, gaining 13%. The company's fiscal 2024 and 2025 earnings are expected to improve 8.7% and 9.8%, respectively, year over year. Revenues are anticipated to rise 5% and 5.7% in fiscal 2024 and 2025, respectively. Factors That Augur Well FactSet has been engaged for more than 40 years in delivering extensive data, sophisticated analytics and flexible technology to global financial professionals and is currently benefiting from a g ...

NORWALK, Conn., May 06, 2024 (GLOBE NEWSWIRE) -- FactSet (NYSE:FDS, NASDAQ:FDS), a global financial digital platform and enterprise solutions provider, announced today that Linda Huber, Chief Financial Officer of FactSet, will participate in a fireside chat at the Barclays Americas Select Franchise Conference at the Langham London in London, England on Tuesday, May 7, 2024. The following information is provided for investors who would like to participate in the conference call: Registration for Fireside Cha ...

Financial Instruments - As of February 29, 2024, the total gross notional value of foreign currency forward contracts was $187.391 million, an increase from $172.644 million as of August 31, 2023[69]. - The company entered into a new interest rate swap agreement on March 1, 2024, with a notional amount of $200 million and a fixed interest rate of 5.145%[71]. - The company reported a net pre-tax derivative loss of $0.1 million expected to be reclassified into earnings within the next 12 months[75]. - The company’s interest rate swap agreement recognized a gain of $17,000 for the three months ended February 29, 2024[75]. - The total cash flow hedges as of February 29, 2024, amounted to $187.391 million, down from $372.644 million as of August 31, 2023[73]. - The company’s foreign currency forward contracts recognized a loss of $623,000 in accumulated other comprehensive loss (AOCL) for the three months ended February 29, 2024[75]. Goodwill and Intangible Assets - Goodwill as of February 29, 2024, was $1.003883 billion, slightly down from $1.004736 billion as of August 31, 2023, primarily due to foreign currency translations[77]. - Amortization expense for intangible assets for the three months ended February 29, 2024, was $26.688 million, compared to $21.782 million for the same period in 2023[80]. - The weighted average useful life of intangible assets as of February 29, 2024, was 32.1 years, with no material impairment identified during the reporting period[79]. - Estimated amortization expense for intangible assets for the remaining six months of 2024 is projected to be $53.369 million[80]. Taxation - The provision for income taxes for the three months ended February 29, 2024, was $27,705 thousand, up from $25,169 thousand in the prior year, reflecting a 6.1% increase[82]. - The effective tax rate for the three months ended February 29, 2024, was 16.4%, slightly higher than 16.1% for the same period in 2023[82]. - The company utilized foreign tax credits, which partially offset the effective tax rate increase due to higher pretax income and foreign tax rates[84]. - The effective tax rate for the six months ended February 29, 2024, was 15.8%, compared to 14.7% for the same period in the previous year[216]. Debt and Cash Flow - Total long-term debt as of February 29, 2024, was $1,489,488 thousand, down from $1,612,700 thousand as of August 31, 2023, indicating a reduction of 7.6%[93]. - The company repaid $62.5 million and $125.0 million under the 2022 Term Facility during the three and six months ended February 29, 2024, respectively[99]. - Interest expense on outstanding debt for the three months ended February 29, 2024, was $16,589 thousand, compared to $16,728 thousand for the same period in 2023, reflecting a decrease of 0.8%[108]. - Net cash provided by operating activities for the six months ended February 29, 2024, was $298.9 million, a 10.2% increase from $271.3 million for the same period in 2023[253]. - Net cash used in investing activities was $83.3 million for the six months ended February 29, 2024, primarily due to $44.9 million in investments and $38.4 million in capital expenditures[256]. - The company reported a net cash outflow of $102.0 million to support working capital requirements for the six months ended February 29, 2024[254]. - Free cash flow for the six months ended February 29, 2024, was $260.6 million, an increase of $24.7 million compared to the same period in 2023[261]. Shareholder Returns - The company repurchased 113,050 shares of common stock for a total cost of $52,255 thousand during the three months ended February 29, 2024[122]. - The total amount of dividends declared for the second quarter of fiscal 2024 was $37,360 thousand, with a dividend per share of $0.98[126]. - The company returned $186.3 million to stockholders in the form of share repurchases and dividends during the six months ended February 29, 2024, compared to $67.5 million in dividends during the same period in 2023[245]. - The company had $187.8 million authorized under its share repurchase program for future share repurchases as of February 29, 2024[124]. Revenue and Earnings - Income before income taxes for the three months ended February 29, 2024, was $168,645 thousand, compared to $156,762 thousand for the same period in 2023, representing an increase of 5.6%[82]. - Basic earnings per share (EPS) for the three months ended February 29, 2024, was $3.70, an increase from $3.44 in the same period of 2023, representing a growth of 7.5%[130]. - Diluted EPS for the six months ended February 29, 2024, was $7.49, compared to $6.89 for the same period in 2023, indicating a year-over-year increase of 8.7%[130]. - Total revenues for the six months ended February 29, 2024, reached $1.088 billion, compared to $1.020 billion for the same period in 2023, marking a growth of 6.7%[150]. - Revenues for Q2 FY2024 were $545.9 million, a 6.0% increase from the prior year, driven by organic revenue growth of 6.0%[180]. - Organic revenues for the six months ended February 29, 2024, increased by 6.6% to $1,087.5 million from $1,019.9 million in the same period a year ago[226]. Operating Performance - Operating income for the Americas segment for the three months ended February 29, 2024, was $81.711 million, up from $61.181 million in the same period of 2023, indicating a significant increase of 33.5%[150]. - Operating margin improved to 33.3% in Q2 FY2024, up from 32.9% in the prior year, attributed to revenue growth and reduced computer-related expenses[162]. - Operating income increased 7.5% to $181.9 million for the three months ended February 29, 2024, compared to $169.3 million in the prior year[202]. - Operating margin increased to 33.3% for the three months ended February 29, 2024, compared to 32.9% in the prior year[206]. Employee and Client Metrics - The company had more than 8,000 clients, comprising over 206,000 investment professionals as of February 29, 2024[154]. - Employee headcount grew by 3.2% to 12,279, with significant growth in Asia Pacific, while the Americas and EMEA saw slight decreases[175]. - The company had 3.7 million employee stock-based awards available for grant under the LTIP as of February 29, 2024[138]. Regional Performance - The Americas segment generated revenues of $352.618 million for the three months ended February 29, 2024, an increase of 6.5% from $331.121 million in the same period of 2023[150]. - EMEA revenues increased 5.0% to $139.2 million for the three months ended February 29, 2024, driven by a 4.8% increase in organic revenues[185]. - Asia Pacific revenues increased 5.2% to $54.1 million for the three months ended February 29, 2024, reflecting a 6.4% increase in organic revenues[186]. - Americas revenues increased 7.1% to $701.0 million for the six months ended February 29, 2024, with organic revenue growth of 7.1%[187]. - EMEA revenues increased 5.9% to $278.7 million for the six months ended February 29, 2024, driven by a 5.4% increase in organic revenues[188]. - Asia Pacific revenues increased 6.1% to $108.4 million for the six months ended February 29, 2024, reflecting a 7.0% increase in organic revenues[189].

FactSet Research Systems Inc. (NYSE:FDS) Q2 2024 Earnings Conference Call March 21, 2024 11:00 AM ET Company Participants Ali van Nes - Head of Investor Relations Philip Snow - Chief Executive Officer Linda Huber - Chief Financial Officer Helen Shan - Chief Revenue Officer Conference Call Participants Faiza Alwy - Deutsche Bank Manav Patnaik - Barclays Kelsey Zhu - Autonomous Heather Balsky - Bank of America Alex Kramm - UBS Andrew Nicholas - William Blair Toni Kaplan - Morgan Stanley Owen Lau - Oppenheimer ...

FACTSET Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Confidential: Do not forward. Thank you Thursday, March 21, 2024 FactSet Earnings Call Second Quarter Fiscal 2024 Copyright © 2024 FactSet Research Systems Inc. All rights reserved. FactSet Business Use Only Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Confidential: Do not forward. 2 Forward-Looking Statements and Non-GAAP Measures This presentation, and other statements that FactSet may make in connection wit ...

For the quarter ended February 2024, FactSet Research (FDS) reported revenue of $545.95 million, up 6% over the same period last year. EPS came in at $4.22, compared to $3.80 in the year-ago quarter.The reported revenue represents a surprise of -0.36% over the Zacks Consensus Estimate of $547.93 million. With the consensus EPS estimate being $3.83, the EPS surprise was +10.18%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

Q2 GAAP revenues of $545.9 million, up 6.0% from Q2 2023.Organic Q2 ASV plus professional services of $2,209.5 million, up 5.4% year over year.Q2 GAAP operating margin of 33.3%, up approximately 50 bps year over year, and adjusted operating margin of 38.3%, up approximately 130 bps from the prior year.Q2 GAAP diluted EPS of $3.65, up 8.0% from the prior year, and adjusted diluted EPS of $4.22, up 11.1% year over year.Top-line growth expected at the lower end of the previously published guidance ranges for t ...

News Release I For Immediate Release FactSet Reports Results for Second Quarter 2024 NORWALK, Conn., March 21, 2024 - FactSet ("FactSet" or the "Company") (NYSE:FDS) (NASDAQ:FDS), a global financial digital platform and enterprise solutions provider, today announced results for its second quarter fiscal 2024 ended February 29, 2024. Second Quarter Fiscal 2024 Highlights "FactSet is an anchor partner for our clients in all market conditions." said Phil Snow, CEO of FactSet. "We remain optimistic about our gr ...

NORWALK, Conn., March 20, 2024 (GLOBE NEWSWIRE) -- FactSet (NYSE:FDS, NASDAQ:FDS), a global financial digital platform and enterprise solutions provider, today announced the appointment of Laurie Hylton to its Board of Directors. Hylton also will serve on FactSet's Audit Committee. Hylton is a highly skilled and experienced senior finance executive with over 30 years of expertise in asset management and public accounting. Before retirement, she served as Chief Financial Officer as well as Chief Accounting O ...

Investors are always looking for stocks that are poised to beat at earnings season and FactSet Research Systems Inc. (FDS) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because FactSet Research is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — ...