FDS - FactSet Research Systems Inc. (FDS) Q2 2024 Earnings Call Transcript

2024-03-21 19:30:09 ET

FactSet Research Systems Inc. (FDS)

Q2 2024 Earnings Conference Call

March 21, 2024 11:00 AM ET

Company Participants

Ali van Nes - Head of Investor Relations

Philip Snow - Chief Executive Officer

Linda Huber - Chief Financial Officer

Helen Shan - Chief Revenue Officer

Conference Call Participants

Faiza Alwy - Deutsche Bank

Manav Patnaik - Barclays

Kelsey Zhu - Autonomous

Heather Balsky - Bank of America

Alex Kramm - UBS

Andrew Nicholas - William Blair

Toni Kaplan - Morgan Stanley

Owen Lau - Oppenheimer

Jeff Silber - BMO Capital Markets

Craig Huber - Huber Research Partners

Russell Quelch - Redburn Atlantic

Keith Housum - Northcoast Research

George Tong - Goldman Sachs

Shlomo Rosenbaum - Stifel

Presentation

Operator

Good day and thank you for standing by. Welcome to FactSet's Second Fiscal Quarter 2024 Earnings Call. At this time, all participants are on a listen-only mode. After the speakers' presentation, there'll be a question-and-answer session. [Operator Instructions]

I would like to hand the conference over to speaker today, Ali van Nes. Please go ahead.

Ali van Nes

Thank you, and good morning, everyone. Welcome to FactSet's second fiscal quarter 2024 earnings call. Before we begin, the slides we reference during this presentation can be found through the webcast on the Investor Relations section of our website at factset.com. A replay of today's call will be available on our website. After our prepared remarks, we will open the call to questions from investors. The call is scheduled to last for one hour. To be fair to everyone, please limit yourself to one question. You may reenter the queue for additional follow-up questions, which we will take if time permits.

Before we discuss our results, I encourage all listeners to review the legal notice on slide two, which explains the risks of forward-looking statements and the use of non-GAAP financial measures. Additionally, please refer to our Forms 10-K and 10-Q for a discussion of risk factors that could cause actual results to differ materially from these forward-looking statements. Our slide presentation and discussions on this call will include certain non-GAAP financial measures. For such measures, reconciliations to the most directly comparable GAAP measures are in the appendix to the presentation and in our earnings release issued earlier today.

Joining me today are Phil Snow, Chief Executive Officer; and Linda Huber, Chief Financial Officer. We will also be joined by Helen Shan, Chief Revenue Officer, for the Q&A portion of today's call.

I will now turn the discussion over to Phil Snow.

Philip Snow

Thank you, Ali, and good morning, everyone. Thanks for joining us today.

In the second quarter, we grew organic ASV plus professional services by 5.4% year-over-year, delivering adjusted diluted EPS of $4.22 and an adjusted operating margin of 38.3%. Given challenging industry factors and continued market uncertainty, our results this quarter were mixed....

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