FactSet Guides FY23 Adj. EPS In Line With Estimates; Q4 Adj. EPS Tops View

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, FactSet Research Systems, Inc. (FDS) initiated its earnings and revenue outlook for the full-year 2023.

For fiscal 2022, the company now projects earnings in a range of $12.70 to $13.10 per share and adjusted earnings in a range of $14.50 to $14.90 per share on revenue between $2.100 billion and $2.115 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $14.76 per share on revenues of $2.04 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, net income increased to $104.42 million or $2.69 per share from $101.06 million or $2.63 per share in the prior-year quarter. Excluding items, adjusted net income was $3.13 per share, compared to $2.88 per share last year.

Revenue for the quarter increased 21.2 percent to $499.30 million from $411.89 million in the same quarter last year. Organic revenues grew 9.8 percent to $452.5 million.

The Street was looking for earnings of $3.20 per share on revenues $487.81 million for the quarter.