company FDS - SteadyBase

steadybase-$ company FDS

account_id none on file

legal_name Factset Research Systems Inc

ticker FDS

cik 1013237

domain factset.com

linkedin_company_url https://www.linkedin.com/company/factset

entry_point_account_id none on file

name FactSet Research Systems Inc.

exchange NYSE

sector Technology

hq Norwalk, CT, United States

irhttps://investor.factset.com/

sector index/company/sector/technology/

calls 27 filings 45 executives 11 family 0

why_nownone on file

calls

As we signaled in our December call, anticipation of softer top-line growth drove our own difficult but necessary cost cuts, including headcount reductions during the quarter. Continued careful expense management will allow us to maintain margins of EPS growth along with investment in new products to drive future performance.

Mar 21, 2024 / receipt, needs a key / Phil Snow, CEO | earnings call 2024-03-21 | transcript e095cdf1-275e-4aec-a88e-a3604c2bc7d6 | chars 3696-4023 | segment 3

And finally, real estate expenses saw an 8% decrease year over year as we took early and significant steps to reduce this expense bucket. we believe we have now right-sized our real estate footprint. As we have mentioned before, thoughtful expense management is positioning the company for future growth while allowing us to continue to invest in technology and strategic initiatives.

Mar 21, 2024 / receipt, needs a key / Linda Huber, CFO | earnings call 2024-03-21 | transcript e095cdf1-275e-4aec-a88e-a3604c2bc7d6 | chars 11485-11869 | segment 11

Looking at margin, adjusted operating margin decreased by 70 basis points to 37.6%, driven by the previously mentioned higher technology expenses, partially offset by lower facilities, professional services, and T&E expenses.

Dec 19, 2023 / receipt, needs a key / Linda Huber, CFO | earnings call 2023-12-19 | transcript 2cf8d1a9-c61e-4406-acf4-fd36d925cf82 | chars 10170-10395 | segment 10

As we enter our fourth quarter, we are focused on operational efficiencies and disciplined expense management to support margin expansion, grow EPS, and provide capital to invest in our strategic priorities.

Jun 22, 2023 / receipt, needs a key / Phil Snow, CEO | earnings call 2023-06-22 | transcript 3474a0d7-09bc-4168-96e3-3b49d8ffc7e7 | chars 3765-3972 | segment 3

As Phil stated earlier, given our reduced core ASV outlook and the inclusion of Q-CIP global services as part of our organic results, we are updating our guidance for fiscal 2023. We expect organic ASV growth of $145 to $175 million, which is a $15 million reduction in core ASV growth at the midpoints. The decline is offset by the $10 million addition of QSIP and remains within our medium-term outlook of 8% to 9% organic ASV growth. Given the headwinds to ASV and lag timing of ASV in the first fiscal quarter, we expect revenue for fiscal 2023 to be in the range of $2.08 billion to $2.1 billion. At the midpoint, revenue growth is expected to be about 13%, a deceleration of 95 basis points from our previously issued guidance. Despite a slightly softer top line, we are confident that our disciplined expense management will allow us to protect margins and preserve EPS. Consistent with our downturn playbook, areas of focus include ongoing real estate rightsizing, rationalization of third-party content costs, and limiting hiring to essential positions. Based on forecasted performance, we also expect our year-end bonus pool to be in the range of 100 to 105 million, roughly $10 million less than last year, which will provide an additional margin benefit. As a result of these measures, we are maintaining adjusted margin guidance of 34 to 35%, consistent with our investor day commitment of 50 to 75 basis points of adjusted margin expansion on average per year.

Mar 23, 2023 / receipt, needs a key / Linda Huber, CFO | earnings call 2023-03-23 | transcript 3feb5fcf-3f7f-4953-957c-cf79c76d9da9 | chars 19369-20843 | segment 19

This was primarily due to decreases in facilities expense and professional services, This was partially offset by an increase in T&E as our teams resumed essential travel.

Mar 23, 2023 / receipt, needs a key / Linda Huber, CFO | earnings call 2023-03-23 | transcript 3feb5fcf-3f7f-4953-957c-cf79c76d9da9 | chars 16039-16210 | segment 16

Travel is prioritized for essential trips, primarily around Helen's sales team.

Mar 23, 2023 / receipt, needs a key / George Tong, other | earnings call 2023-03-23 | transcript 3feb5fcf-3f7f-4953-957c-cf79c76d9da9 | chars 33237-33316 | segment 34

For example, we've added back a bit to travel and entertainment, particularly for Helen's team for critical client usage and for critical pipeline activity.

Mar 23, 2023 / receipt, needs a key / Linda, CFO | earnings call 2023-03-23 | transcript 3feb5fcf-3f7f-4953-957c-cf79c76d9da9 | chars 59031-59187 | segment 60

Actions taken to date include limiting travel to client engagements and essential business needs, revisiting our real estate footprint, and focusing on the continued reduction of third-party content costs.

Dec 20, 2022 / receipt, needs a key / Phil Snow, CEO | earnings call 2022-12-20 | transcript 3d754e6a-3836-4584-8232-be2027948833 | chars 16035-16240 | segment 16

We're taking a close look at what we want to do with T&E because obviously the top line is paramount here and we've got to get that right.

Dec 20, 2022 / receipt, needs a key / Linda, CFO | earnings call 2022-12-20 | transcript 3d754e6a-3836-4584-8232-be2027948833 | chars 45256-45394 | segment 47

The second would probably be travel and entertainment if we do need to look at tightening things.

Sep 22, 2022 / receipt, needs a key / Linda, CFO | earnings call 2022-09-22 | transcript f58c73ff-0af5-42e5-b9c1-ddf0967ada11 | chars 63494-63591 | segment 65

And we've also seen an increase in traveling and in-person engagement as our leaders encourage employees to meet one another and clients face-to-face wherever possible.

Sep 22, 2022 / receipt, needs a key / Phil Snow, CEO | earnings call 2022-09-22 | transcript f58c73ff-0af5-42e5-b9c1-ddf0967ada11 | chars 6105-6273 | segment 6

filings

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