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FactSet Research Posts Q4 Beat, Lowers 2020 Guidance

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FactSet Research Posts Q4 Beat, Lowers 2020 Guidance

FactSet Research Systems (NYSE: FDS) reported fourth-quarter earnings of $2.61 per share Thursday, beating the consensus estimate of $2.47 by 5.67%. 

The company reported quarterly sales of $364.283 million, beating the analyst consensus estimate of $362.57 million by 0.47%.

FactSet guided to fiscal 2020 adjusted EPS in a range of $9.85-$10.15, missing the $10.52 Street estimate. The company guided to GAAP sales of $1.49-$1.5 billion. 

"FactSet performed well in full year 2019 delivering solid revenue and strong EPS growth, despite market headwinds," CEO Phil Snow said in a statement. 

"To further our winning proposition in the marketplace, we will be accelerating critical investments over the next three years from a position of strength, capitalizing on industry trends and enhancing our core offerings. We are making investments today so that FactSet can continue to deliver long-term value for all our stakeholders." 

FactSet shares were trading down 9.04% at $246.67 at the time of publication. 

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