FX.co ★ FactSet Reaffirms FY24 Outlook; Q2 Adj. EPS Tops View

FactSet Research Systems, Inc confirmed its forecast for the annual financial performance during its second quarter earnings report last Thursday. They continue to project an anticipated earnings range of $13.95 to $14.35 per share, as well as an adjusted profits range of $15.60 to $16.00 per share on revenues between $2.20 and $2.21 billion for the fiscal year 2024.

A poll conducted by Thomson Reuters that included 17 analysts generated an average projected earnings of $15.93 per share on revenues of $2.21 billion for the year. These predictions usually do not consider special items.

In the second quarter, FactSet's net income increased to $140.94 million or $3.65 per share from $131.59 million or $3.38 per share during the same quarter the previous year. Adjusted net income, which excludes certain items, was $4.22 per share, compared to $3.80 per share last year.

The company's revenue for the quarter increased by 6.0 percent to $545.95 million from $515.09 million in the same quarter last year. Organic revenues also experienced a growth of 6.0 percent, reaching $546.13 million. Wall Street analysts had predicted earnings of $3.88 per share on revenues of $546.80 million for the quarter.