FactSet Reaffirms FY24 Outlook; Q2 Adj. EPS Tops View

(RTTNews) - While reporting financial results for the second quarter on Thursday, FactSet Research Systems, Inc. (FDS) reaffirmed its earnings, adjusted earnings revenue guidance for the full-year 2024.

For fiscal 2024, the company continues to project earnings in a range of $13.95 to $14.35 per share and adjusted earnings in a range of $15.60 to $16.00 per share on revenue between $2.20 billion and $2.21 billion.

On average, 17 analysts polled by Thomson Reuters expect the company to report earnings of $15.93 per share on revenues of $2.21 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, net income increased to $140.94 million or $3.65 per share from $131.59 million or $3.38 per share in the prior-year quarter. Excluding items, adjusted net income was $4.22 per share, compared to $3.80 per share last year.

Revenue for the quarter increased 6.0 percent to $545.95 million from $515.09 million in the same quarter last year. Organic revenues grew 6.0 percent to $546.13 million.

The Street was looking for earnings of $3.88 per share on revenues $546.80 million for the quarter.

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