logo
  

FactSet Q3 Profit Tops View; Lifts Annual Profit Outlook - Quick Facts

FactSet Research Systems Inc. (FDS) reported that its third-quarter net income rose to $101.22 million or $2.63 per share from $92.27 million or $2.37 per share in the prior year.

Adjusted earnings per share rose 9.2% to $2.86 from $2.62 in the prior year period primarily driven by an improvement in operating results. Analysts polled by Thomson Reuters expected the company to report earnings of $2.43 per share for the third-quarter. Analysts' estimates typically exclude special items.

Revenue for the third-quarter increased 2.6% to $374.1 million from last year's $364.5 million, due to higher sales of analytics, content and technology solutions (CTS) and wealth management solutions. Analysts expected revenues of $376.03 million for the quarter.

Organic revenues grew 2.6% to $375.3 million during the third quarter of fiscal 2020 from the prior year period.

Annual Subscription Value or ASV plus professional services was $1.52 billion at May 31, 2020, compared to $1.45 billion at May 31, 2019. The organic growth rate, which excludes the effects of acquisitions, dispositions, and foreign currency movements, was 5.0%.

The company increased its quarterly dividend by $0.05 per share or 7% to $0.77 per share.

The company announced changes to its Board of Directors including a new chair, two new members, and the retirement of two current members.

Organic Annual Subscription Value or ASV plus professional services is now expected to increase in the range of $60 million and $75 million over fiscal 2019. The change in the anticipated range reflects the current expected business impacts resulting from the coronavirus pandemic.

For 2020, the company now expects earnings per share to be in the range of $9.60 and $9.80, and adjusted earnings per share of $10.40 and $10.60. Earlier, the company expected annual earnings of $8.70 to $9.00 per share and adjusted earnings of $9.85 to $10.15 per share.

Annual revenue is now expected to be in the range of $1.485 billion - $1.490 billion, compared to the prior outlook of $1.49 billion - $1.50 billion.

Wall Street currently is looking for fiscal year 2020 earnings of $10.00 per share on annual revenues of $1.49 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. air travel industry is going through its worst crisis since the troubled travel time during the peek pandemic struggles, with thousands of flights across the country being cancelled or getting delayed. The aviation crisis, as millions are preparing to travel during the upcoming July 4th holiday weekend, is mainly attributed to the staffing issues at airlines, ... The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Siluriformes products imported by Carlstadt, New Jersey- based Grand BK Corp. The products were imported from Korea, a country ineligible to export Siluriformes products to the United States. Blount Fine Foods is recalling a limited amount of Panera at Home Southwest Corn Chowder citing undeclared wheat allergen, the U.S. Food and Drug Administration said. The recall involves a single lot of 16 oz. product with UPC Code 077958690812, lot number 042122-2K and "Use By" date of 6/30/22 that comes around 2,569 cases in total. The recall is limited to 1 SKU of 16 oz.
RELATED NEWS
Follow RTT