FactSet Research Systems Inc. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>FactSet Research Systems Inc. has filed its quarterly report (10-Q) for the period ending February 29, 2024.</b>

AI Summary

FACTSET RESEARCH SYSTEMS INC (FDS) filed a Quarterly Report (10-Q) with the SEC on April 3, 2024. FactSet Research Systems Inc. filed a 10-Q report for the period ending February 29, 2024. The filing covers the period from September 1, 2023, to February 29, 2024. The company's fiscal year ends on August 31. FactSet Research Systems Inc. is incorporated in Delaware. The company's principal business address is 45 Glover Avenue, Norwalk, CT 06850.

Why It Matters

For investors and stakeholders tracking FACTSET RESEARCH SYSTEMS INC, this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for FactSet Research Systems Inc. Understanding the details within this 10-Q is crucial for assessing the company's financial health and future prospects.

Risk Assessment

Risk Level: low — FACTSET RESEARCH SYSTEMS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual or high-risk events.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand FactSet's performance and outlook.

Key Numbers

• 2024-02-29 — Period End Date (Quarterly Report)
• 2024-04-03 — Filing Date (SEC Filing)
• 0831 — Fiscal Year End (Company Information)
• DE — State of Incorporation (Company Information)

Key Players & Entities

• FactSet Research Systems Inc. (company) — Filer
• 2024-02-29 (date) — Period of report
• 2024-04-03 (date) — Filed as of date
• 0001013237-24-000049 (filing_id) — Accession Number
• 45 Glover Avenue (address) — Business Address
• Norwalk (city) — Business Address
• CT (state) — Business Address
• 06850 (zip_code) — Business Address

FAQ

Industry Context

FactSet Research Systems Inc. operates in the financial data and analytics industry, providing critical information and technology solutions to investment professionals.

Regulatory Implications

The filing is a standard 10-Q, adhering to the reporting requirements of the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business trends and outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-02-29: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-03: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending February 29, 2024. Specific comparative data from the previous filing (e.g., 10-Q for the period ending November 30, 2023) is not detailed in this header information.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 Par Value FDS New York Stock Exchange L

Filing Documents

• fds-20240229.htm (10-Q) — 1564KB
• fds-2024x229xexx311.htm (EX-31.1) — 10KB
• fds-2024x229xexx312.htm (EX-31.2) — 10KB
• fds-2024x229xexx321.htm (EX-32.1) — 4KB
• fds-2024x229xexx322.htm (EX-32.2) — 5KB
• fds-20240229_g1.jpg (GRAPHIC) — 3KB
• 0001013237-24-000049.txt (&nbsp;) — 8106KB
• fds-20240229.xsd (EX-101.SCH) — 44KB
• fds-20240229_cal.xml (EX-101.CAL) — 75KB
• fds-20240229_def.xml (EX-101.DEF) — 292KB
• fds-20240229_lab.xml (EX-101.LAB) — 607KB
• fds-20240229_pre.xml (EX-101.PRE) — 492KB
• fds-20240229_htm.xml (XML) — 1265KB

Financial Statements

Financial Statements Consolidated Statements of Income for the three and six months ended February 29, 2024 and February 28, 2023 4 Consolidated Statements of Comprehensive Income for the three and six months ended February 29, 2024 and February 28, 2023 5 Consolidated Balance Sheets at February 29, 2024 and August 31, 2023 6 Consolidated Statements of Cash Flows for the six months ended February 29, 2024 and February 28, 2023 7 Consolidated Statements of Changes in Stockholders' Equity for the three and six months ended February 29, 2024 and February 28, 2023 8 Notes to the Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 4.

Controls and Procedures

Controls and Procedures 51 Part II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 51 Item 1A.

Risk Factors

Risk Factors 51 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52 Item 3. Defaults Upon Senior Securities 52 Item 4. Mine Safety Disclosures 52 Item 5. Other Information 52 Item 6. Exhibits 53

Signatures

Signatures 54 For additional information about FactSet Research Systems Inc. and access to its Annual Reports to Stockholders and Securities and Exchange Commission filings, free of charge, please visit FactSet's website ( https://investor.factset.com) . Any information on or linked from the website is not incorporated by reference into this Quarterly Report on Form 10-Q. 2 Table of Contents Special Note Regarding Forward-Looking Statements FactSet Research Systems Inc. has made statements under the captions Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations, Part II, Item 1A. Risk Factors, and in other sections of this Quarterly Report on Form 10-Q for the three and six months ended February 29, 2024, that are forward-looking statements. In some cases, you can identify these statements by words such as "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "intends," "projects," "indicates," "predicts," "potential," or "continue," and similar expressions. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance and anticipated trends in our business. These statements are only predictions based on our current expectations, estimates, forecasts and projections about future events. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. There are many important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including the numerous factors discussed under Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended August 31, 2023, that should be specifically considered. Although we believe t

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS FactSet Research Systems Inc. CONSOLIDATED STATEMENTS OF INCOME – Unaudited Three Months Ended Six Months Ended February 29, February 28, February 29, February 28, (in thousands, except per share data) 2024 2023 2024 2023 Revenues $ 545,945 $ 515,085 $ 1,088,161 $ 1,019,900 Operating expenses Cost of services 255,142 240,806 506,763 467,848 Selling, general and administrative 108,807 104,582 209,518 210,178 Asset impairments 54 447 898 729 Total operating expenses 364,003 345,835 717,179 678,755 Operating income 181,942 169,250 370,982 341,145 Other income (expense), net Interest income 2,847 2,903 5,859 5,108 Interest expense ( 16,599 ) ( 16,737 ) ( 33,337 ) ( 33,274 ) Other income (expense), net 455 1,346 337 1,668 Total other income (expense), net ( 13,297 ) ( 12,488 ) ( 27,141 ) ( 26,498 ) Income before income taxes 168,645 156,762 343,841 314,647 Provision for income taxes 27,705 25,169 54,346 46,256 Net income $ 140,940 $ 131,593 $ 289,495 $ 268,391 Basic earnings per common share $ 3.70 $ 3.44 $ 7.61 $ 7.03 Diluted earnings per common share $ 3.65 $ 3.38 $ 7.49 $ 6.89 Basic weighted average common shares 38,103 38,281 38,059 38,201 Diluted weighted average common shares 38,650 38,981 38,646 38,947 The accompanying notes are an integral part of these Consolidated Financial Statements. 4 Table of Contents FactSet Research Systems Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME – Unaudited Three Months Ended Six Months Ended February 29, February 28, February 29, February 28, (in thousands) 2024 2023 2024 2023 Net income $ 140,940 $ 131,593 $ 289,495 $ 268,391 Other comprehensive income (loss), net of tax Net unrealized gain (loss) on cash flow hedges (1) ( 1,186 ) ( 2,254 ) ( 2,840 ) 4,301 Foreign currency translation adjustment gains (losses) ( 2,956 ) 3,070 ( 1,048 ) 11,839 Other comprehensive income (loss) ( 4,142 ) 816 ( 3,888 ) 16,140 Comprehensive income $ 136,798 $ 132,4

View Full Filing

View this 10-Q filing on SEC EDGAR