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Gartner (IT) Q4 Earnings & Revenues Top Estimates, Up Y/Y
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Gartner, Inc. (IT - Free Report) reported better-than-expected fourth-quarter 2022 results, wherein both earnings and revenues surpassed the respective Zacks Consensus Estimate.
Adjusted earnings (excluding 49 cents from non-recurring items) per share of $3.70 beat the Zacks Consensus Estimate by 44% and increased 23.8% year over year. Revenues of $1.5 billion beat the Zacks Consensus Estimate by 2.6% and improved 15.2% year over year on a reported basis and 20% on a foreign-currency-neutral basis.
Total contract value was $4.7 billion, up 12% year over year on a foreign-currency-neutral basis.
Revenues in Research segment increased 9% year over year on a reported basis and 13% on a foreign-currency-neutral basis to $1.18 billion. Gross contribution margin was 74% in the reported quarter.
Conferences’ revenues surged 76% year over year on a reported basis and 84% on a foreign-currency-neutral basis to $188 million. Gross contribution margin was 53% in the reported quarter.
Revenues in Consulting segment grew 17% year over year on a reported basis and 24% on a foreign-currency-neutral basis to $138 million. Gross contribution margin was 37% in the reported quarter.
Adjusted EBITDA of $421 million improved 37% year over year on a reported basis and 44% on a foreign-currency-neutral basis.
Operating cash flow totaled $203 million while free cash flow was $166 million in the reported quarter. Capital expenditures totaled $38 million. Gartner repurchased $17 million common shares.
2023 View
Adjusted EPS is anticipated to be $8.80. The current Zacks Consensus Estimate of $9.40 lies above the guidance.
Adjusted EBITDA is projected to be $1.26 billion. Free cash flow is anticipated to be $920 million.
Robert Half International Inc. (RHI - Free Report) reported mixed fourth-quarter 2022 results, wherein earnings beat the Zacks Consensus Estimate but revenues missed.
Quarterly earnings of $1.37 per share beat the Zacks Consensus Estimate by 1.5% but declined 9.3% year over year. Revenues of $1.73 billion missed the Zacks Consensus Estimate by 0.6% and decreased 2.4% year over year.
Automatic Data Processing, Inc. (ADP - Free Report) reported better-than-expected second-quarter fiscal 2023 results.
Adjusted earnings per share of $1.96 beat the Zacks Consensus Estimate by 0.5% and grew 19% from the year-ago fiscal quarter’s reading. Total revenues of $4.4 billion beat the Zacks Consensus Estimate by 0.3% and improved 9.1% from the year-ago fiscal quarter’s reading on a reported basis and 10% on an organic constant-currency basis.
Booz Allen Hamilton Holding Corp. (BAH - Free Report) reported impressive third-quarter fiscal 2023 results, with both earnings and revenues beating the respective Zacks Consensus Estimate. Quarterly adjusted earnings (excluding 84 cents from non-recurring items) per share of $1.07 beat the Zacks Consensus Estimate by 4.9% and increased 4.9% on a year-over-year basis.
Total revenues of $2.3 billion beat the Zacks Consensus Estimate by 4% and increased 12.1% on a year-over-year basis.
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Gartner (IT) Q4 Earnings & Revenues Top Estimates, Up Y/Y
Gartner, Inc. (IT - Free Report) reported better-than-expected fourth-quarter 2022 results, wherein both earnings and revenues surpassed the respective Zacks Consensus Estimate.
Adjusted earnings (excluding 49 cents from non-recurring items) per share of $3.70 beat the Zacks Consensus Estimate by 44% and increased 23.8% year over year. Revenues of $1.5 billion beat the Zacks Consensus Estimate by 2.6% and improved 15.2% year over year on a reported basis and 20% on a foreign-currency-neutral basis.
Total contract value was $4.7 billion, up 12% year over year on a foreign-currency-neutral basis.
Gartner, Inc. Price, Consensus and EPS Surprise
Gartner, Inc. price-consensus-eps-surprise-chart | Gartner, Inc. Quote
Quarterly Numbers in Detail
Revenues in Research segment increased 9% year over year on a reported basis and 13% on a foreign-currency-neutral basis to $1.18 billion. Gross contribution margin was 74% in the reported quarter.
Conferences’ revenues surged 76% year over year on a reported basis and 84% on a foreign-currency-neutral basis to $188 million. Gross contribution margin was 53% in the reported quarter.
Revenues in Consulting segment grew 17% year over year on a reported basis and 24% on a foreign-currency-neutral basis to $138 million. Gross contribution margin was 37% in the reported quarter.
Adjusted EBITDA of $421 million improved 37% year over year on a reported basis and 44% on a foreign-currency-neutral basis.
Operating cash flow totaled $203 million while free cash flow was $166 million in the reported quarter. Capital expenditures totaled $38 million. Gartner repurchased $17 million common shares.
2023 View
Adjusted EPS is anticipated to be $8.80. The current Zacks Consensus Estimate of $9.40 lies above the guidance.
Adjusted EBITDA is projected to be $1.26 billion. Free cash flow is anticipated to be $920 million.
Currently, Gartner carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Snapshots
Robert Half International Inc. (RHI - Free Report) reported mixed fourth-quarter 2022 results, wherein earnings beat the Zacks Consensus Estimate but revenues missed.
Quarterly earnings of $1.37 per share beat the Zacks Consensus Estimate by 1.5% but declined 9.3% year over year. Revenues of $1.73 billion missed the Zacks Consensus Estimate by 0.6% and decreased 2.4% year over year.
Automatic Data Processing, Inc. (ADP - Free Report) reported better-than-expected second-quarter fiscal 2023 results.
Adjusted earnings per share of $1.96 beat the Zacks Consensus Estimate by 0.5% and grew 19% from the year-ago fiscal quarter’s reading. Total revenues of $4.4 billion beat the Zacks Consensus Estimate by 0.3% and improved 9.1% from the year-ago fiscal quarter’s reading on a reported basis and 10% on an organic constant-currency basis.
Booz Allen Hamilton Holding Corp. (BAH - Free Report) reported impressive third-quarter fiscal 2023 results, with both earnings and revenues beating the respective Zacks Consensus Estimate. Quarterly adjusted earnings (excluding 84 cents from non-recurring items) per share of $1.07 beat the Zacks Consensus Estimate by 4.9% and increased 4.9% on a year-over-year basis.
Total revenues of $2.3 billion beat the Zacks Consensus Estimate by 4% and increased 12.1% on a year-over-year basis.