Gartner, Inc. (IT) has reported better-than-expected first-quarter 2024 results.The company’s adjusted earnings (excluding 26 cents from non-recurring items) per share of $2.9 beat the Zacks Consensus Estimate by 16.3% and increased 1.7% from the year-ago quarter. Revenues of $1.5 billion beat the consensus estimate marginally and improved 4.5% year over year.The IT stock has gained 45.9% over the past year, outperforming the 14.8% rally of the industry it belongs to and 23.7% growth of the Zacks S&P 500 Co ...

Gartner, Inc. (NYSE:IT) Q1 2024 Earnings Conference Call April 30, 2024 8:00 AM ET Company Participants David Cohen - Senior Vice President, Investor Relations Gene Hall - Chief Executive Officer Craig Safian - Chief Financial Officer Conference Call Participants Jeff Meuler - Baird Toni Kaplan - Morgan Stanley Heather Balsky - Bank of America Andrew Nicholas - William Blair Josh Chan - UBS Manav Patnaik - Barclays Surinder Thind - Jefferies George Tong - Goldman Sachs David Cohen Good morning, everyone. We ...

Gartner (IT) reported $1.47 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 4.5%. EPS of $2.93 for the same period compares to $2.88 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.47 billion, representing a surprise of +0.26%. The company delivered an EPS surprise of +16.27%, with the consensus EPS estimate being $2.52.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street exp ...

Gartner (IT) came out with quarterly earnings of $2.93 per share, beating the Zacks Consensus Estimate of $2.52 per share. This compares to earnings of $2.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.27%. A quarter ago, it was expected that this technology information and analysis company would post earnings of $2.78 per share when it actually produced earnings of $3.04, delivering a surprise of 9.35%.Over the last fo ...

Financial Performance - Total revenues for Q1 2024 were $1.5 billion, an increase of 5% compared to Q1 2023[147] - Net income for Q1 2024 was $210.5 million, a decrease of 29% from $295.8 million in Q1 2023[148] - Operating income decreased by 33% to $273.9 million in Q1 2024 from $408.0 million in Q1 2023[153] - SG&A expense was $689.8 million for the three months ended March 31, 2024, an increase of $32.7 million or 5% compared to the same period in 2023[155] - Operating income decreased to $273.9 million for the three months ended March 31, 2024, down from $408.0 million in the same period in 2023[158] - Net income for the three months ended March 31, 2024 was $210.5 million, a decrease from $295.8 million in the same period in 2023[162] Revenue Breakdown - Research revenue increased by 4%, Conferences revenue increased by 8%, and Consulting revenue increased by 6% year-over-year[147] - Research revenues increased by $51.0 million or 4% during the three months ended March 31, 2024 compared to the same period in 2023[168] - Consulting revenues increased by 6% to $134.7 million for the three months ended March 31, 2024 compared to the same period in 2023[178] - Global Technology Sales contract value increased by 5% to $3.8 billion as of March 31, 2024 compared to the same date in 2023[169] - Global Business Sales contract value increased by 12% to $1.1 billion as of March 31, 2024 compared to the same date in 2023[169] Cash and Debt Management - As of March 31, 2024, the company had $1.2 billion in cash and cash equivalents and approximately $0.7 billion of available borrowing capacity[148] - The company entered into a $1.0 billion senior unsecured revolving credit facility on March 26, 2024[141] - The company borrowed $274.4 million under the new credit agreement, primarily to repay previous debt and for working capital needs[142] - Cash provided by operating activities increased to $188.8 million for the three months ended March 31, 2024, compared to $164.7 million in the same period of 2023, reflecting a year-over-year increase of approximately 14.5%[186] - Cash used in financing activities rose to $219.7 million in Q1 2024 from $101.3 million in Q1 2023, with $225.1 million allocated for share repurchases in 2024 compared to $106.9 million in 2023[188] - As of March 31, 2024, the company had $2.5 billion in total debt principal outstanding[189] Employee and Operational Metrics - Gartner had approximately 20,290 employees globally as of March 31, 2024, reflecting a 2.3% increase from the previous year[139] - Backlog increased by $27.0 million or 17% from March 31, 2023 to March 31, 2024[179] Tax and Interest Rate Exposure - The effective income tax rate decreased to 18.9% for the three months ended March 31, 2024, down from 22.4% in the same period in 2023[161] - Approximately $274.4 million of the total debt was based on a floating interest rate, exposing the company to potential interest rate increases, although this risk is mitigated by interest rate swap contracts[194] Currency and Risk Management - The company had $1.2 billion in cash and cash equivalents as of March 31, 2024, with a significant portion in foreign currencies, which could lead to a potential cash fluctuation of approximately $66.4 million with a 10% change in exchange rates[196] - The company typically enters into foreign currency forward exchange contracts to mitigate transaction risks, with an immaterial net unrealized loss reported as of March 31, 2024[197] - The majority of the company's cash equivalents and financial instruments are with large investment-grade commercial banks, reducing concentration of credit risk[198] - The company has not entered into any material off-balance sheet arrangements from January 1, 2024, through March 31, 2024[191]

Gartner Inc. (IT) is scheduled to release its first-quarter 2024 results on Apr 30, before market open.IT has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in the four trailing quarters, with an average surprise of 25.8%.Q1 ExpectationsThe Zacks Consensus Estimate for the top line is pegged at $1.5 billion, suggesting a 4.4% rise from the year-ago quarter’s actual. The company’s revenues are likely to have benefited from the improvement in its segmental performance.T ...

Gartner, Inc. (IT) is currently benefiting from a large and diverse addressable market with low customer concentration that mitigates operating risks.The company recently reported better-than-expected fourth-quarter 2023 results.Adjusted earnings per share of $3.04 beat the Zacks Consensus Estimate by 9.4% but decreased 18% from the year-ago reported figure. Revenues of $1.6 billion beat the consensus estimate by 0.6% and improved 5% year over year.How is Gartner Doing?Over the years, Gartner research repor ...

STAMFORD, Conn.--(BUSINESS WIRE)--Gartner, Inc. (NYSE: IT): What: Gartner CSO & Sales Leader Conference 2024 When: May 21-22, 2024 Where: Las Vegas, NV Members of the media can register for the conference by contacting Elizabeth.Bishop@gartner.com. Details: Today’s chief sales officers (CSOs) and sales leaders must find innovative ways to exceed revenue targets despite the unrelenting uncertainties caused by inflation, talent scarcity and supply chain disruptions. At the Gartner CSO & Sales Leader C ...

STAMFORD, Conn.--(BUSINESS WIRE)--Gartner, Inc. (NYSE: IT): What: Gartner Marketing Symposium/Xpo When: May 13-14, 2024 Where: London, U.K. Members of the media can register for the conference by contacting jordan.brackenbury@gartner.com. Details: Disruptions have become a constant challenge for marketers. AI is turbocharging transformation, turning tech from an enabler powering an efficient marketing machine into a disruptor. Successful CMOs embrace their role as transformation leaders, enabling the ...

A month has gone by since the last earnings report for Gartner (IT) . Shares have added about 4.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Gartner due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Gartner Surpasses Q4 Earnings & Revenue EstimatesGartner, Inc ...