- FactSet Research Systems Inc (NYSE:FDS) reported third-quarter FY22 revenue growth of 22.3% year-on-year to $488.8 million, beating the consensus of $473.1 million.
- Organic Annual Subscription Value (ASV) plus professional services were $1.9 billion on May 31, 2022, compared with $1.6 billion a year ago.
- Adjusted EPS of $3.76 beat the consensus of $3.23.
- Adjusted operating margin improved 500 bps to 36.6%.
- FactSet generated $192 million in operating cash flow and held $526.97 million in cash and equivalents.
- "Our double-digit ASV growth demonstrates the value of our offerings and continued strong demand from our clients," said Phil Snow, CEO. "While the macro environment is challenging, FactSet has a history of growth even in volatile markets. We are well-positioned to navigate anticipated headwinds given our strong recurring revenue model."
- The company had $181.3 million available for share repurchases as of May 31, 2022.
- Outlook: FactSet reiterated its FY22 view, with growth expected at the upper end. It expects revenue of $1.80 billion - $1.83 billion, versus the consensus of $1.81 billion.
- FactSet reiterated adjusted EPS guidance of $12.75 - $13.15, versus the consensus of $13.02.
- Price Action: FDS shares traded higher by 2.79% at $370.00 in premarket on the last check Thursday.
