- MSCI (NYSE:MSCI) reports Q4 earnings that beat EPS and revenue estimates.
- FY18 guidance: Adjusted EBITDA, $645M to $665M; cash from operating activities, $490M to $540M; FCF, $440M to $500M; effective tax rate, 21% to 24%.
- Key metrics: Recurring sales growth, +22% Y/Y; Analytics recurring sales growth, 36%; operating revenues, $334.8M (+14%); Index revenue, $ (+22%); AUM, $744.3B (+55%); Run Rate, $1.4B (+17%); cash from operating activities, $143.2M; total operating expenses, $14M (+8% largely due to severance costs); adjusted EBITDA, $15.3M (+11%); cash and equivalents, $889.5M; total outstanding debt, $2.1B.
- Tax reform impact: Q4 income tax expense was $62.4M, which included a $34.5M net charge related to the tax reform act. The charge included an estimated tax charge of $47.5M on repatriated earnings and an estimated tax charge of $16M. Charge partially offset by estimated tax benefit of $29M related to deferred tax revaluation at the lower corporate rate. Q4 effective tax rate was 49.1%.
- Press release
- Previously: MSCI beats by $0.15, beats on revenue (Feb. 1)
- Now read: Monotype Imaging: Goodwill Comprises How Much Of Its Capital Structure?
Original article