FactSet Reaffirms FY23 Forecast Post Mixed Q1 Results

FactSet Research Systems Inc FDS reported first-quarter FY23 sales growth of 18.9% year-on-year to $504.81 million, missing the consensus of $510.17 million.
Organic Annual Subscription Value (ASV) plus professional services were $2 billion at November 30, 2022, compared with $1.7 billion at November 30, 2021.
Adjusted EPS of $3.99 beat the consensus of $3.61.
GAAP operating margin of 34.1% expanded 517 bps Y/Y. Adjusted operating margin expanded 471 bps to 38.3%.
FactSet held $437.1 million in cash and equivalents as of November 30, 2022.
Adjusted EBITDA increased 38.2% to $200.4 million.
"While macro uncertainties persist, FactSet has historically grown through market cycles, and I'm confident in our business and pipeline heading into the second quarter," CEO Phil Snow said.
Outlook, reaffirmed: FactSet expects FY23 revenue of $2.100 billion - $2.115 billion, against the consensus of $2.1 billion.
FactSet forecasts adjusted EPS guidance of $14.50 - $14.90 versus the consensus of $14.79.
Price Action: FDS shares traded lower by 0.98% at $415.79 on the last check Tuesday.

Momentum39.84

Growth31.36

Quality58.41

Value17.48

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