Before the bell on Tuesday, Factset Research Systems (FDS
FDS Earnings in Brief
-FDS’s Q1 revenue was up 6% to $223 million from last year’s Q1 revenue of $211 million
-The company’s adjusted net income came in at $54.289 million, up 7% from last year’s $49.769 million.
-Adjusted EPS came in at $1.22 for the quarter, up 10% from last year’s adjusted EPS figure of $1.11.
-The company came in just below analysts’ estimates of $1.23 EPS on revenues of $223.66 million.
-Looking forward to next quarter, Factset gave earnings guidance in the range of $1.20 to $1.23 per share, and Q2 revenue guidance in the range of $225 million to $228 million. The EPS guidance is below analysts’ estimate of $1.25, but the revenue guidance is in-line with analyst views.
CEO Commentary
Philip Hadley, Factset’s chairman and CEO, had the following comments about the company’s Q1 report: ”Our investment discipline and proven business model continues to generate shareholder value as illustrated by our 10% adjusted EPS growth. Our buy-side client base is experiencing a healthy business cycle, but we are facing a challenging sell-side environment, which reduced organic ASV.”
No Dividend Change; $300M Added to Buyback
Factset most recently upped its dividend payout in July of this year, so it’s no surprise that the company did not announced a dividend change in its most recent earnings report. The company has a history of announcing a raise to its dividend in May, so investors should keep an eye on this company around then. Though the company did not change its dividend, it did announced that $300 million is being added to the company’s stock repurchase program.
Stock Performance
Factset stock was inactive in pre-market trading. YTD, the company’s stock is up 30.48%.
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