FactSet Research Systems Inc. (NYSE: FDS), a leading provider of data analytics services, has reported a decline in fourth-quarter adjusted profit, despite an increase in revenues.
- Fourth-quarter revenues increased 7.3% year-over-year to $535.8 million; organic revenue was up 7.2%
- Q4 operating margin was 21.9%, down 460 bps from last year; adjusted operating margin rose by 210 bps
- On a per-share basis, earnings came in at $1.68, down 37.5% from the prior year; adjusted EPs dropped 6.4% to $2.93
- For fiscal 2024, the company forecasts ASV plus professional services growth between 6% and 8%
- Full-year revenue is expected to grow in the range of 6% to 7%; adjusted operating margin is seen growing 10-50 bps
- The management expects adjusted earnings per share to increase in the 6.5-10% range in FY24
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