FactSet Guides FY22 Well Above Estimates As Q4 Results To View - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, FactSet Research Systems, Inc. (FDS) initiated its earnings and revenue outlook for the full-year 2022, well above analysts' expectations.

For fiscal 2022, the company now still projects earnings in a range of $11.60 to $11.90 per share and adjusted earnings in a range of $12.00 to $12.30 per share on revenue between $1.705 billion and $1.720 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.83 per share on revenues of $1.67 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, net income increased to $101.06 million or $2.63 per share from $89.08 million or $2.29 per share in the prior-year quarter. Excluding items, adjusted net income was $2.88 per share, flat with last year.

Revenue for the quarter increased 7.4 percent to $411.9 million from $383.6 million in the same quarter last year, primarily due to higher sales of analytics, content and technology solutions (CTS) and research. Organic revenues grew 6.7 percent to $410.1 million.

The Street was looking for earnings of $2.72 per share on revenues $404.97 million for the quarter.