FactSet Q1 Earnings Top Consensus; Reaffirms FY22 Outlook

FactSet Research Systems Inc FDS reported first-quarter FY22 revenue growth of 9.4% year-on-year to $424.7 million, beating the consensus of $419.1 million.
Higher sales of analytics and research and advisory solutions drove the growth. Organic revenues grew 9.1% Y/Y to $423.2 million.
Annual Subscription Value (ASV) plus professional services were $1.7 billion on November 30, 2021, compared with $1.6 billion on November 30, 2020.
Adjusted EPS increased 12.8% Y/Y to $3.25, above the consensus of $2.99.
Adjusted operating margin decreased 70 bps to 33.6%, reflecting increased infrastructure expenses and data costs.
FactSet generated $72.9 million in operating cash flow and held $708.9 million in cash and equivalents.
"Demand for differentiated content remains strong, which we intend to capitalize on with our leading open content and analytics platform," said Phil Snow, CEO, FactSet.
Outlook: FactSet reaffirmed its outlook for FY22 revenue of $1.705 billion - $1.720 billion, below the consensus of $1.95 billion.
FactSet sees adjusted EPS of $12.00 - $12.30 versus the consensus of $12.22.
Price Action: FDS shares traded lower by 4.03% at $452 in the premarket session on the last check Tuesday.

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