Gartner

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our target by $11 to $372, 34x our ’24 EPS view, below IT’s three-year average (~36x) on decelerating growth. We lift our ’24 EPS view by $0.32 to $10.95 and lower ’25’s by $0.02 to $12.90. IT posted Q1 sales of $1.47B (+5% Y/Y, near consensus) and EPS of $2.93 (+2% Y/Y, above consensus). Renewal issues with tech vendor customers hurt contract value growth during Q1 (+6.9% Y/Y ex-FX), with Global Technology Sales (78% of total CV) up just 5.4%. While this was well telegraphed, with a high portion of business up for renewal in Q1, we remain cautious on calling a bottom given continued macro headwinds. We similarly view total wallet retention, which fell 320 bps Y/Y (80 bps Q/Q) to 102.8%. Consulting (+6%) […]

The following is a summary of the Gartner, Inc.  (NYSE:IT)  Q4 2023 Earnings Call Transcript: Financial Performance: Gartner Q4 revenue rose by 5% year-over-year to $1.6 billion, with an EBITDA of $386 million attributed to disciplined cost management. For the full year 2023, the firm observed an 8% hike in global contract value and consolidated revenue, reaching an EBITDA of $1.5 billion and free cash flow of $1.1 billion. The firm’s 2024 financial guidance anticipate a research revenue of at least $5.15 billion, conference revenue of $560 million minimum and consulting revenue no less than $530 million. Research revenue had a 6% year-over-year in Q4, while subscription revenue saw an 8% organic growth, making up more than 75% of their consolidated global revenue in 2023. Business Progress: Research contribution margin was 74% for Q4, consistent with previous year; Global Technology Sales contract value and Global Business Sales contract value increased

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our target by $29 to $383, 36x our ’24 EPS estimate, near peers and Gartner, Inc. (NYSE:IT) ‘s five-year average (~36x). We lower our ’24 EPS view by $0.82 to $10.63 and initiate our ’25 EPS view at $12.92. IT posted sales of $1.59B (+5% Y/Y) and EPS of $3.04 (-18%), both above consensus. Sales are benefiting from the return of in-person Conferences as Covid fears ease, while the outlook for Research (83% of Q4 sales) is mixed as double-digit growth in new business continues to be offset by renewal headwinds from smaller tech vendors. We expect this to weigh on wallet retention rates entering ’24, which continued their decline in Q4 in both Global Technology Sales (101.4%, -20 bps Q/Q, -370 bps Y/Y) and

Gartner Reports Fourth Quarter 2023 Financial Results Contract Value $4.8 billion, +8% YoY FX Neutral FOURTH QUARTER 2023 HIGHLIGHTS — Revenues: $1.6 billion, +5% as reported, +4% FX neutral. — Net income: $209 million, -19%; adjusted EBITDA: $386 million, -8% as reported, -9% FX neutral. — Diluted EPS: $2.64, -18%; adjusted EPS: $3.04, -18%. — Operating cash flow: $224 million, +10%; free cash flow: $196 million, +19%. FULL YEAR 2023 HIGHLIGHTS — Revenues: $5.9 billion, +8% as reported and FX neutral. — Net income: $882 million, +9%; adjusted EBITDA: $1.5 billion, +1% as reported, +2% FX neutral. — Diluted EPS: $11.08, +11%; adjusted EPS: $11.33, +1%. — Operating cash flow: $1.2 billion, +5%; free cash flow: $1.1 billion, +6%. — Repurchased 1.8 million common shares for $0.6 billion; 1% reduction in outstanding share count YoY. STAMFORD, Conn.–(BUSINESS WIRE)–February 06, 2024– Gartner, Inc. (NYSE: IT), today reported results for the fourth

Gartner (NYSE:IT) Reports Q4 EPS $3.04, vs. Street Est of $2.83.

Gartner (NYSE:IT) Sees 2024 Revenue Greater Than or Equal to $6.24B.

By Will Feuer Gartner posted lower fourth-quarter earnings, hit by rising costs and a slowdown in the company’s consulting business. The research company, which also hosts information technology-focused conferences, posted a fourth-quarter profit of $209 million, or $2.64 a share, down from $257 million, or $3.21 a share, in the same period a year earlier. Stripping out one-time items, adjusted earnings were $3.04 a share. Analysts surveyed by FactSet expected $2.83 a share. Revenue rose 5% to $1.59 billion, matching analysts’ estimates, according to FactSet. Costs rose almost 10% to $1.28 billion. Research revenue rose about 6%, while revenue from conferences climbed 14%. Gartner’s consulting unit posted revenue of $128 million, down about 7%. Write to Will Feuer at Will.Feuer@wsj.com

Gartner (NYSE:IT) is set to give its latest quarterly earnings report on Tuesday, 2024-02-06. Here’s what investors need to know before the announcement. Analysts estimate that Gartner will report an earnings per share (EPS) of $2.83. Gartner bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target price to $412 from $355 on a P/E of 36x, below its 3-year historical average using our 2024 EPS view. We increase our 2023 EPS forecast to $10.95 from $10.05 and 2024 EPS estimate to $11.45 from $11.07. IT posted revenue of $1.4B for Q3, above consensus by $10M, and non-GAAP EPS of $2.56 beats by $0.60. Modest sales growth of 5.8% Y/Y was the result of continued pressures to demand and tough comparisons from the prior year – Research revenue was up 6% Y/Y from decelerating contract value growth (GTS +3.4% Y/Y, GBS +7.1% Y/Y), and slight contractions in wallet and retention rates. This was offset by outperformance in Consulting (+24.1% Y/Y, vs 12/6% Y/Y in Q3 2022). However, the share