FactSet Maintains FY23 Adj. EPS Outlook; Q2 Adj. EPS Tops View

(RTTNews) - While reporting financial results for the second quarter on Thursday, FactSet Research Systems, Inc. (FDS) maintained its adjusted earnings outlook for the full-year 2023, while trimming annual revenue guidance.

For fiscal 2023, the company now projects earnings in a range of $12.45 to $12.85 per share and adjusted earnings in a range of $14.50 to $14.90 per share on revenue between $2.08 billion and $2.10 billion.

Previously, the company expected earnings in the range of $12.70 to $13.10 per share and adjusted earnings in the 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 $14.89 per share on revenues of $2.09 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, net income increased to $131.59 million or $3.38 per share from $109.94 million or $2.84 per share in the prior-year quarter. Excluding items, net income was $3.80 per share, compared to $3.27 per share last year.

Revenue for the quarter increased 19.5 percent to $515.09 million from $431.12 million in the same quarter last year. Organic revenues grew 8.9 percent to $469.55 million.

The Street was looking for earnings of $3.69 per share on revenues $515.47 million for the quarter.

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