Verisk Analytics Backs FY23 Ernings, Revenue View - Update

(RTTNews) - Verisk Analytics Inc. (VRSK) on Wednesday maintained its earnings and revenue outlook for fiscal 2023, which are below market estimates

For fiscal 2023, the company continues to expect adjusted earnings per share in the range of $5.50 to $5.70 and revenue in the range of $2.63 billion to $2.66 billion.

On average, analysts polled by Thomson Reuters expect earnings of $5.72 per share for the year on revenues of $2.67 billion. Analysts' estimates typically exclude special items.

For the year, the company still expects adjusted EBITDA between $1.39 billion and $1.43 billion, and adjusted EBITDA margin in the 53 percent-54 percent range.

In its third quarter, Verisk Analytics reported profit of $187.4 million, or $1.29 per share. This compares with $189.4 million, or $1.20 per share, in last year's third quarter.

Adjusted earnings were $221.2 million or $1.52 per share for the period.

The company's revenue for the quarter rose 11.1 percent to $677.6 million from $610.1 million last year.

In pre-market activity on Nasdaq, the shares were trading at $223.34, down 1.77 percent.

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