Press release
SS&C Technologies Releases Q2 2023 Earnings Results, Announces $1 Billion Common Stock Repurchase Program
Q2 2023 GAAP revenue $1,362.6 million, up 2.6%, Fully Diluted GAAP Earnings Per Share $0.51, up 21.4%Adjusted revenue $1,363.4 million, up 2.5%, Adjusted
About this update from Ss&c Technologies Holdings, Inc.
[{"type":"text","content":"Q2 2023 GAAP revenue $1,362.6 million, up 2.6%, Fully Diluted GAAP Earnings Per Share $0.51, up 21.4%Adjusted revenue $1,363.4 million, up 2.5%, Adjusted Diluted Earnings Per Share $1.08, down 1.8% \nWINDSOR, Conn., July 27, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (NASDAQ: SSNC), a global provider of investment, financial and healthcare software-enabled services and software, today announced its financial results for the second quarter ended June 30, 2023.\n\n \n \n \n \n \n \n\n \nThree Months Ended June 30,\nSix Months Ended June 30,\n(in millions, except per share data):\n2023\n2022\nChange\n2023\n2022\nChange\nGAAP Results\nRevenue\n$1,362.6\n$1,328.7\n2.6 %\n$2,725.3\n$2,623.7\n3.9 %\nOperating income\n288.2\n245.6\n17.3 %\n568.3\n537.4\n5.7 %\nOperating income margin\n21.2 %\n18.5 %\n270 bp\n20.9 %\n20.5 %\n40 bp\nDiluted earnings per share attributable to \nSS&C\n$0.51\n$0.42\n21.4 %\n$1.00\n$1.06\n(5.7) %\nAdjusted Non-GAAP Results (defined in Notes 1 - 4 below)\nAdjusted revenue\n$1,363.4\n$1,330.0\n2.5 %\n$2,726.8\n$2,626.2\n3.8 %\nAdjusted operating income attributable to SS&C\n485.8\n455.3\n6.7 %\n978.8\n954.1\n2.6 %\nAdjusted operating income margin\n35.6 %\n34.2 %\n140 bp\n35.9 %\n36.3 %\n-40 bp\nAdjusted diluted earnings per share attributable to SS&C\n$1.08\n$1.10\n(1.8) %\n$2.18\n$2.35\n(7.2) %\n \nSecond Quarter 2023 Highlights:\nQ2 2023 GAAP Revenue growth was 2.6 percent, Adjusted Revenue growth was 2.5 percent.SS&C generated net cash from operating activities of $584.2 million for the six months ended June 30, 2023, up 30.5 percent compared to the same time period in 2022.Q2 2023 we bought back 2.0 million shares for $111.9 million, at an average price of $56.17 per share.We paid down $125.2 million in debt in Q2 2023, bringing our net leverage ratio to 3.27 times consolidated EBITDA attributable to SS&C.SS&C reported GAAP net income attributable to SS&C of $130.7 million, up 18.2 percent and adjusted consolidated EBITDA attributable to SS&C of $502.4 million for Q2 2023, up 6.7 percent.GAAP operating income margin for Q2 2023 was 21.2 percent. Adjusted consolidated EBITDA margin for Q2 2023 was 36.8 percent.In July, we announced the appointment of Brian Schell as Chief Financial Officer, to start August 7, 2023.\"SS&C reported Q2 2023 results largely in line; revenue came in ahead, but expense...