NYSE$FDS
Factset Research Systems Inc. · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
FactSet reported an increase in GAAP revenues and organic revenues, with improvements in operating margin and EPS.
FactSet reported strong second-quarter results, with GAAP revenues up 19.5% to $515.1 million and organic revenue growth of 8.9%. The company's GAAP operating margin increased to 32.9%, and GAAP diluted EPS rose to $3.38, up 19.0% from the prior year. FactSet is updating its fiscal 2023 guidance, expecting ASV + professional services growth of 7% - 9%, adjusted operating margin of 34%-35% and adjusted diluted EPS growth of 8% - 11%.
- GAAP revenues increased 19.5% to $515.1 million.
- Organic revenues grew 8.9% to $469.5 million.
- GAAP operating margin increased to 32.9%.
- GAAP diluted EPS increased 19.0% to $3.38.
Headline financials
Revenue & EPS history
FactSet · Revenue · Quarterly
$515M
Forward guidance
FactSet is updating its outlook for fiscal 2023. Organic ASV plus professional services is expected to be in the range of $145 million to $175 million. GAAP revenues are expected to be in the range of $2,080 million to $2,100 million. Adjusted diluted EPS is expected to be in the range of $14.50 to $14.90.
Tailwinds
- Organic ASV plus professional services is expected to be in the range of $145 million to $175 million.
- GAAP revenues are expected to be in the range of $2,080 million to $2,100 million.
- Adjusted operating margin is expected to be in the range of 34.0% to 35.0%.
- FactSet's annual effective tax rate is expected to be in the range of 13.5% to 14.5%.
- Adjusted diluted EPS is expected to be in the range of $14.50 to $14.90.
Headwinds
- Organic ASV growth deceleration of 100 basis points when compared to previous guidance of $150 million to $180 million, due to an expected decline in ASV growth in the core business during the second half of the fiscal year.
- GAAP operating margin is expected to be in the range of 29.5% to 30.5%.
- GAAP diluted EPS is expected to be in the range of $12.45 to $12.85.
- Given the risk factors, uncertainties, and assumptions discussed in the release, actual results may differ materially.
- FactSet does not intend to update its forward-looking statements prior to its next quarterly results announcement.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q2 2023
-1.6%
Avg return
Earnings day
-1.1%
Avg return
5 days after
+0.4%
Avg return
30 days after
33%
22 / 67 earnings
Positive
+10.6%
Q3 2020
Best reaction
-11.5%
Q3 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | — | — | — | |
| Q2 2026 | +3.3% | +2.9% | — | |
| Q1 2026 | -7.8% | -1.8% | -2.5% | |
| Q4 2025 | -10.3% | -14.2% | -14.7% | |
| Q3 2025 | -1.3% | -1.7% | -14.8% | |
| Q2 2025 | -1.7% | +0.2% | -2.6% | |
| Q1 2025 | +2.2% | +3.9% | -2.1% | |
| Q4 2024 | +4.3% | +3.8% | +5.5% | |
| Q3 2024 | +4.1% | +1.8% | +3.9% | |
| Q2 2024 | -8.3% | -9.0% | -11.0% | |
| Q1 2024 | -1.3% | +2.3% | +0.6% | |
| Q4 2023 | +2.8% | +2.0% | +1.5% | |
| Q3 2023 | -6.9% | -5.4% | +2.0% | |
| Q2 2023 | -4.0% | -3.4% | +1.4% | |
| Q1 2023 | -3.7% | -5.2% | +0.4% | |
| Q4 2022 | -8.8% | -9.1% | -5.4% | |
| Q3 2022 | +9.1% | +4.5% | +13.4% | |
| Q2 2022 | -3.0% | +2.5% | +0.1% | |
| Q1 2022 | +1.4% | +1.8% | -9.6% | |
| Q4 2021 | +6.9% | +6.8% | +18.9% | |
| Q3 2021 | -0.4% | +0.4% | +3.6% | |
| Q2 2021 | -4.7% | -2.1% | +5.3% | |
| Q1 2021 | -4.6% | -5.6% | -5.6% | |
| Q4 2020 | -0.7% | +1.0% | -0.7% | |
| Q3 2020 | +10.6% | +10.5% | +17.1% | |
| Q2 2020 | +9.4% | +12.0% | +17.9% | |
| Q1 2020 | -1.5% | -0.8% | +2.5% | |
| Q4 2019 | -10.7% | -11.4% | -6.2% | |
| Q3 2019 | -1.4% | -2.3% | -5.3% | |
| Q2 2019 | +4.1% | +6.3% | +14.4% | |
| Q1 2019 | -7.6% | -10.6% | -3.0% | |
| Q4 2018 | -2.6% | -3.4% | -6.9% | |
| Q3 2018 | -3.7% | -4.7% | -1.4% | |
| Q2 2018 | -5.5% | -5.0% | -7.6% | |
| Q1 2018 | -4.8% | -6.2% | -2.7% | |
| Q4 2017 | +4.8% | +5.4% | +10.9% | |
| Q3 2017 | +2.2% | +0.1% | -0.8% | |
| Q2 2017 | -5.8% | -5.5% | -6.1% | |
| Q1 2017 | -0.1% | -1.3% | +2.3% | |
| Q4 2016 | -7.8% | -8.0% | -12.5% | |
| Q3 2016 | +4.0% | +6.6% | +14.5% | |
| Q2 2016 | -3.1% | — | — | |
| Q1 2016 | -4.4% | — | — | |
| Q4 2015 | -1.7% | — | — | |
| Q3 2015 | -0.8% | — | — | |
| Q2 2015 | +2.2% | — | — | |
| Q1 2015 | +3.6% | — | — | |
| Q4 2014 | -2.6% | — | — | |
| Q3 2014 | +1.2% | — | — | |
| Q2 2014 | +5.0% | — | — | |
| Q1 2014 | -6.1% | — | — | |
| Q4 2013 | -1.1% | — | — | |
| Q3 2013 | -4.1% | — | — | |
| Q2 2013 | -5.6% | — | — | |
| Q1 2013 | -6.0% | — | — | |
| Q3 2010 | -0.3% | — | — | |
| Q4 2012 | -5.3% | — | — | |
| Q3 2012 | -11.5% | — | — | |
| Q2 2012 | +7.7% | — | — | |
| Q1 2012 | -7.3% | — | — | |
| Q4 2009 | -5.8% | — | — | |
| Q4 2011 | -5.8% | — | — | |
| Q3 2011 | -2.9% | — | — | |
| Q2 2010 | -0.7% | — | — | |
| Q2 2011 | -0.7% | — | — | |
| Q1 2011 | +0.5% | — | — | |
| Q4 2010 | +0.5% | — | — | |
| Q1 2010 | +0.5% | — | — |
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