FactSet Research Systems Inc. Files Q3 2024 10-Q

TL;DR

**FACTSET FILES Q3 10-Q: Financials out for period ending 5/31/24.**

AI Summary

FactSet Research Systems Inc. filed its 10-Q for the period ending May 31, 2024. The filing details financial performance and operational updates for the third quarter of their fiscal year. Key financial figures and business segments are presented, providing insight into the company's ongoing activities and market position.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for FactSet, crucial for understanding the company's trajectory in the financial data services market.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.

Key Numbers

• 2024-05-31 — Reporting Period End Date (Marks the end of the financial period covered by the 10-Q.)
• 2024-07-03 — Filing Date (Indicates when the report was officially submitted to the SEC.)

Key Players & Entities

• FACTSET RESEARCH SYSTEMS INC (company) — Filer of the 10-Q
• 20240531 (date) — End of the reporting period
• 20240703 (date) — Filing date
• 45 GLOVER AVENUE, NORWALK, CT 06850 (location) — Company's business and mailing address

FAQ

Key Financial Figures

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

Filing Documents

• fds-20240531.htm (10-Q) — 1575KB
• factsetresearchsystemsince.htm (EX-10.1) — 198KB
• fds-2024x531xexx311.htm (EX-31.1) — 10KB
• fds-2024x531xexx312.htm (EX-31.2) — 10KB
• fds-2024x531xexx321.htm (EX-32.1) — 4KB
• fds-2024x531xexx322.htm (EX-32.2) — 5KB
• fds-20240531_g1.jpg (GRAPHIC) — 3KB
• 0001013237-24-000084.txt ( ) — 8512KB
• fds-20240531.xsd (EX-101.SCH) — 45KB
• fds-20240531_cal.xml (EX-101.CAL) — 78KB
• fds-20240531_def.xml (EX-101.DEF) — 281KB
• fds-20240531_lab.xml (EX-101.LAB) — 624KB
• fds-20240531_pre.xml (EX-101.PRE) — 494KB
• fds-20240531_htm.xml (XML) — 1298KB

Financial Statements

Financial Statements Consolidated Statements of Income for the three and nine months ended May 31, 2024 and May 31, 2023 4 Consolidated Statements of Comprehensive Income for the three and nine months ended May 31, 2024 and May 31, 2023 5 Consolidated Balance Sheets at May 31, 2024 and August 31, 2023 6 Consolidated Statements of Cash Flows for the nine months ended May 31, 2024 and May 31, 2023 7 Consolidated Statements of Changes in Stockholders' Equity for the three and nine months ended May 31, 2024 and May 31, 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 33 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 nine months ended May 31, 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 the e

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS FactSet Research Systems Inc. CONSOLIDATED STATEMENTS OF INCOME – Unaudited Three Months Ended Nine Months Ended May 31, May 31, (in thousands, except per share data) 2024 2023 2024 2023 Revenues $ 552,708 $ 529,811 $ 1,640,869 $ 1,549,711 Operating expenses Cost of services 246,986 241,689 753,749 709,537 Selling, general and administrative 103,098 115,725 312,616 325,903 Asset impairments 165 438 1,063 1,167 Total operating expenses 350,249 357,852 1,067,428 1,036,607 Operating income 202,459 171,959 573,441 513,104 Other income (expense), net Interest income 4,568 3,083 10,427 8,191 Interest expense ( 16,894 ) ( 16,354 ) ( 50,231 ) ( 49,628 ) Other income (expense), net 399 3,310 736 4,978 Total other income (expense), net ( 11,927 ) ( 9,961 ) ( 39,068 ) ( 36,459 ) Income before income taxes 190,532 161,998 534,373 476,645 Provision for income taxes 32,397 27,335 86,743 73,591 Net income $ 158,135 $ 134,663 $ 447,630 $ 403,054 Basic earnings per common share $ 4.15 $ 3.52 $ 11.76 $ 10.54 Diluted earnings per common share $ 4.09 $ 3.46 $ 11.58 $ 10.35 Basic weighted average common shares 38,089 38,278 38,069 38,227 Diluted weighted average common shares 38,640 38,912 38,644 38,936 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 Nine Months Ended May 31, May 31, (in thousands) 2024 2023 2024 2023 Net income $ 158,135 $ 134,663 $ 447,630 $ 403,054 Other comprehensive income (loss), net of tax Net unrealized gain (loss) on cash flow hedges (1) ( 335 ) ( 2,044 ) ( 3,175 ) 2,257 Foreign currency translation adjustment gains (losses) ( 1,282 ) 4,943 ( 2,330 ) 16,782 Other comprehensive income (loss) ( 1,617 ) 2,899 ( 5,505 ) 19,039 Comprehensive income $ 156,518 $ 137,562 $ 442,125 $ 422,093 (1) Presented net of a tax benef

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View this 10-Q filing on SEC EDGAR