FactSet Out with Q3 Earnings

FactSet (NYSE:FDS) hiked Tuesday, on third-quarter results.

The Norwalk, Ct.-based FactSet, a global provider of integrated financial information, analytical applications, and industry-leading service, announced revenues increased 7.2% or $24.6 million to $364.5 million compared with $339.9 million for the same period in fiscal 2018.

Tuesday’s news release indicated the increase is primarily due to higher sales of analytics, content and technology solutions (CTS) and wealth management solutions. Organic revenues grew 7.3% to $366.3 million during the third quarter of fiscal 2019 from the prior year period.

Operating margin increased to 32.2% compared with 27.4% for the same period last year. Adjusted operating margin improved to 34.0% compared with 31.0% in the prior year period primarily as a result of improved operating results and favorable foreign exchange rates.

Diluted earnings per share (EPS) advanced to $2.37 compared with $1.91 for the same period in fiscal 2018. Adjusted diluted EPS rose 20.2% to $2.62 compared with $2.18 in the prior period driven primarily by stronger operating results.

FactSet increased its quarterly dividend by $0.08 per share or 12.5% to $0.72 marking the 14th consecutive year the Company has increased dividends, highlighting its continued commitment to returning value to shareholders.

The Company’s Board of Directors approved a $210-million increase to the existing share repurchase program.

Said CEO Phil Snow, "FactSet’s ability to perform well this year amid sector and industry headwinds serves as a proof point that our long-term strategy is working."

Shares leaped $4.47, or 1.5%, to $297.80