MSCI Q3 earnings beat reflects strength in Index, Analytics; lifts FCF guidance

seekingalpha10-29 23:57

littleclie/iStock via Getty ImagesMSCI (NYSE:MSCI) posted on Tuesday Q3 earnings and revenue that rose past the Wall Street consensus as "we posted our best-ever Q3 for recurring sales in Index and ...

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Fernandez. The provider of market indexes and investment data now sees full-year 2024 free cash flow of $1,305M-$1,365M, better than the $1,284.1M Visible Alpha consensus and the prior guidance of $1,225M-$1,285M. Capital expenditures for the year are expected to be $105M-$115M, vs. $95M-$105M in the previous view. The company reiterated its guidance for operating expense and adjusted EBITDA expense. Q3 adjusted EPS of $3.86, surpassing the $3.77 average analyst estimate, climbed from $3.64 in Q2 and $3.45 in Q3 2023. Operating revenues of $724.7M, also exceeding the $716.2M consensus, advanced from $707.9M in the prior quarter and $625.4M a year before. (NYSE:MSCI) shares dipped 1.5% in late morning trading. Recurring subscriptions revenue dropped to $224.0M from $521.5M in Q2 and rose from $206.5M in Q3 2023. Organic recurring subscription run rate growth of 8.0% eased from 8.6% in the previous quarter. Retention rate was 94.2% vs. 94.8% in Q2.  Total operating expenses of $323.4M compared with $325.3M in Q2 and $272.1M in Q3 of last year. Adjusted EBITDA rose to $450.7M from $430.0M in Q2 and $386.3M in the year-earlier quarter.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479233026"}