FactSet Research Systems Earnings: Shareholders Don’t Like These Results
FactSet Research Systems Inc. (NYSE:FDS) reported net income above Wall Street’s expectations for the first quarter. FactSet Research Systems is a provider of integrated global financial and economic information, including fundamental financial data on tens of thousands of companies worldwide.
Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now
FactSet Research Systems Inc. Earnings Cheat Sheet
Results: Net income for FactSet Research Systems Inc. rose to $49.8 million ($1.11 per share) vs. $45.5 million (99 cents per share) in the same quarter a year earlier. This marks a rise of 9.3% from the year-earlier quarter.
Revenue: Rose 7.5% to $211.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: FactSet Research Systems Inc. reported adjusted net income of $1.22 per share. By that measure, the company beat the mean estimate of $1.11 per share. It beat the average revenue estimate of $202.9 million.
Quoting Management: Philip A. Hadley, Chairman and CEO said, “Against the backdrop of a difficult selling environment, particularly for the sell-side, FactSet again delivered double-digit EPS growth. We continued our long track record of reinvesting back into the Company to position FactSet to be even stronger as I look ahead.”
The company has now seen net income rise in three straight quarters. In the fourth quarter of the last fiscal year, net income rose 18.7% and in the third quarter of the last fiscal year, the figure rose 10.8%.
The company has now topped analyst estimates for the last four quarters. It beat the mark by 4 cents in the fourth quarter of the last fiscal year, by 4 cents in the third quarter of the last fiscal year, and by 5 cents in the second quarter of the last fiscal year.
Revenue has risen the past four quarters. Revenue increased 8.2% to $207.7 million in the fourth quarter of the last fiscal year. The figure rose 10.2% in the third quarter of the last fiscal year from the year earlier and climbed 12.2% in the second quarter of the last fiscal year from the year-ago quarter.
Looking Forward: Expectations for the second quarter have not changed from $1.13. For the fiscal year, the average estimate has moved up from $4.60 a share to $4.61 over the last sixty days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)