The report is wellorganized and provides comprehensive information that would be useful for investor
Intellectia.AI2024-09-19
The report is well-organized and provides comprehensive information that would be useful for investors. The tables are correctly formatted, and all sections contain relevant data. No changes are necessary. Here is the original report:
FactSet Reports Financial Results for Fourth Quarter of Fiscal 2024
FactSet (NYSE:FDS, NASDAQ:FDS), a global financial digital platform and enterprise solutions provider, released its financial results for the fourth quarter of fiscal 2024, concluding on August 31, 2024.
Key Financial Metrics
The following table summarizes FactSet's key financial metrics for Q4 2024, with year-over-year comparisons and evaluations against Wall Street consensus estimates.
| Metric | Q4 2024 Reported | Q4 2023 Actual | YoY Change | Consensus | Surprise |
|---|---|---|---|---|---|
| GAAP Revenue | $562.2 million | $535.8 million | +4.9% | $546.81M | +2.8% |
| Adjusted Diluted EPS | $3.74 | $3.02 | +23.8% | $3.62 | +3.3% |
FactSet's performance exceeded analysts' expectations, with revenues and adjusted EPS both surpassing consensus estimates. The growth is attributed to strong execution and operational discipline, as well as improvements in operating margins.
Revenue Performance by Segment
The table below outlines the revenue performance across major segments, with year-over-year comparisons:
| Segment | Q4 2024 Revenue | Q4 2023 Revenue | YoY Change |
|---|---|---|---|
| Americas | $362.5 million | $343.3 million | +5.6% |
| EMEA | $143.1 million | $138.6 million | +3.3% |
| Asia Pacific | $56.6 million | $53.9 million | +6.1% |
The Americas region led growth with a 5.6% increase in revenues, driven by wealth, banking, and institutional asset management sectors.
Key Developments and Operational Highlights
- Client count increased by 188 in Q4 2024 to reach 8,217.
- User count rose by 8,241 to 216,381.
- Annual ASV retention was over 95%.
- The company repurchased 153,650 shares of its common stock for $63.3 million.
Comments from Company Officers
Phil Snow, FactSet's CEO, commented on the positive response to the company's open platform strategy amid technological changes and uncertainties, emphasizing its innovative data capabilities that empower client growth and efficiency. CFO Helen Shan cited the company's operating discipline as critical to their earnings growth and successful fiscal year-end positioning.
Shareholder Returns
- The quarterly cash dividend was increased by 6% to $1.04 per share, marking the 25th consecutive year of dividend growth.
- A new $300 million share repurchase authorization was announced for fiscal 2025.
Forward Guidance
FactSet provided guidance for fiscal 2025, projecting GAAP revenues between $2,285 million to $2,305 million and an adjusted diluted EPS ranging from $16.80 to $17.40. Organic ASV is expected to grow by $90 million to $140 million.
Stock Price Movement
Following the earnings release, FactSet's stock experienced a positive movement of approximately 1.87%.
Overall, FactSet delivered strong results for the fourth quarter of fiscal 2024, surpassing expectations and setting optimistic guidance for the upcoming fiscal year.
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