FactSet Research Systems Non-GAAP EPS of $3.99, reaffirms fiscal 2023 outlook

FactSet Research Systems press release (FDS): Q1 Non-GAAP EPS of $3.99 beats by $0.36.Revenue of $504.8M (+18.9% Y/Y) misses by $5.49M.Organic Q1 ASV plus professional services of...

FactSet Research Systems Non-GAAP EPS of $3.99, reaffirms fiscal 2023 outlook

FactSet Research Systems press release (NYSE:FDS): Q1 Non-GAAP EPS of $3.99 beats by $0.36. Revenue of $504.8M (+18.9% Y/Y) misses by $5.49M. Organic Q1 ASV plus professional services of $1.8 billion, up 8.8% year over year Q1 GAAP operating margin of 34.1%, up 517 bps year over year, and adjusted operating margin of 38.3%, up 471 bps over the prior year Adjusted EBITDA increased to $200.4 million Reaffirms Fiscal 2023 Outlook: Organic ASV plus professional services is expected to increase in the range of $150 million to $180 million during fiscal 2023.

GAAP revenues are expected to be in the range of $2,100 million to $2,115 million vs consensus of $2.11B. GAAP operating margin is expected to be in the range of 30.0% to 31.0%. Adjusted operating margin is expected to be in the range of 34% to 35%.

FactSet's annual effective tax rate is expected to be in the range of 12.5% to 13.5%. GAAP diluted EPS is expected to be in the range of $12.70 to $13.10. Adjusted diluted EPS is expected to be in the range of $14.50 to $14.90 vs consensus of $14.82.