JKHY - Jack Henry & Associates Inc. (JKHY) Q2 2024 Earnings Call Transcript
2024-02-07 14:41:03 ET
Jack Henry & Associates, Inc. (JKHY)
Q2 2024 Earnings Call Transcript
February 07, 2024 08:45 AM EST
Company Participants
Vance Sherard - Vice President Investor Relations
David Foss - Chairman & Chief Executive Officer
Greg Adelson - President & Chief Operating Officer
Mimi Carsley - Chief Financial Officer & Treasurer
Conference Call Participants
John Davis - Raymond James
Nik Cremo - UBS
Jason Kupferberg - BofA
David Togut - Evercore ISI
Vasu Govil - KBW
Kartik Mehta - Northcoast Research
Cris Kennedy - William Blair
Andrew Schmidt - Citi
James Faucette - Morgan Stanley
Dave Koning - Baird
Dominick Gabriele - Oppenheimer
Ben Varga - Autonomous Research
Presentation
Operator
Good morning, and welcome to the Jack Henry Second Quarter 2024 Earnings Conference Call. [Operator Instructions]. Please note, this event is being recorded.
I would now like to turn the conference over to Vance Sherard, Vice President, Investor Relations. Please go ahead.
Vance Sherard
Thank you, Laura. Good morning, and thank you for joining us for the Jack Henry Second Quarter 2024 Earnings Call. Joining me on the call today is David Foss, Board Chair and CEO; and Mimi Carsley, CFO and Treasurer; and Greg Adelson, President and COO.
After my opening remarks, I will turn the call over to Dave for his comments on our business and industry outlook. After Dave concludes his comments, Greg will discuss his transition to CEO, provide commentary on our operations, including updates on our technology modernization strategy and other key initiatives at Jack Henry. Mimi will then provide commentary around the financial results and updated guidance included in the press release issued yesterday that is available from the Investor Relations section of the Jack Henry website. We will then open the lines for Q&A.
As a reminder, this call includes certain forward-looking statements, including remarks or responses to questions concerning future expectations, events, objectives, strategies, trends or results. Like any statement about the future, these are subject to multiple factors that could cause actual results or events to differ materially from those which we anticipate due to multiple risks and uncertainties. The company undertakes no obligation to update or revise these statements. For a summary of these risk factors and additional information, please refer to yesterday's press release and the sections in our 10-K entitled Risk Factors and Forward-Looking Statements.
On this call, we will discuss certain non-GAAP financial measures, including non-GAAP revenue and non-GAAP operating income. The reconciliations for non-GAAP financial measures are in yesterday's press release.
I will now turn the call over to Dave.
David Foss
Thank you, Vance. Good morning, everyone. We're pleased to report another strong quarter of revenue and operating income growth. As always, I'd like to begin today by thanking our associates for all the hard work and commitment that went into producing those results for the quarter.
For the second quarter of fiscal 2024, total revenue increased by 8% on both a GAAP and non-GAAP basis. Operating income increased 11% for the quarter and increased 14% on a non-GAAP basis.
Turning to the segments. We again had a solid quarter in the core segment of our business. Revenue was up by 8% for the quarter on both a GAAP and non-GAAP basis. Our payments segment also performed well, posting a 6% increase in revenue this quarter on both a GAAP and non-GAAP basis. We had another strong quarter in our complementary solutions businesses, with a 7% increase in revenue this quarter and a 9% increase on a non-GAAP basis. ...
Jack Henry & Associates, Inc. (JKHY) Q2 2024 Earnings Call Transcript