Press release
SS&C Technologies Releases Q2 2024 Earnings Results, Announces $1 Billion Common Stock Repurchase Program
Q2 2024 GAAP revenue $1,451.5 million, up 6.5%, Fully Diluted GAAP Earnings Per Share $0.75, up 47.1% Record Adjusted revenue $1,452.4 million, up 6.5%,
About this update from Ss&c Technologies Holdings, Inc.
[{"type":"text","content":"Q2 2024 GAAP revenue $1,451.5 million, up 6.5%, Fully Diluted GAAP Earnings Per Share $0.75, up 47.1%\nRecord Adjusted revenue $1,452.4 million, up 6.5%, Adjusted Diluted Earnings Per Share $1.27, up 17.6% \nWINDSOR, Conn., July 25, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (NASDAQ: SSNC), a global provider of investment, financial and healthcare software and software-enabled services, today announced its financial results for the second quarter ended June 30, 2024.\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):\n2024\n2023\nChange\n2024\n2023\nChange\nGAAP Results\nRevenue\n$1,451.5\n$1,362.6\n6.5 %\n$2,886.5\n$2,725.3\n5.9 %\nOperating income\n327.6\n288.2\n13.7 %\n660.5\n568.3\n16.2 %\nOperating income margin\n22.6 %\n21.2 %\n140 bps\n22.9 %\n20.9 %\n200 bps\nDiluted earnings per share attributable toSS&C\n$0.75\n$0.51\n47.1 %\n$1.38\n$1.00\n38.0 %\nNet income attributable to SS&C\n190.3\n130.7\n45.6 %\n347.9\n256.7\n35.5 %\nAdjusted Non-GAAP Results (defined in Notes 1 - 4 below)\nAdjusted revenue\n$1,452.4\n$1,363.4\n6.5 %\n$2,888.2\n$2,726.8\n5.9 %\nAdjusted operating income attributable to SS&C\n541.7\n485.8\n11.5 %\n1,081.7\n978.8\n10.5 %\nAdjusted operating income margin\n37.3 %\n35.6 %\n170 bps\n37.5 %\n35.9 %\n160 bps\nAdjusted diluted earnings per share attributable to SS&C\n$1.27\n$1.08\n17.6 %\n$2.55\n$2.22\n14.9 %\nAdjusted consolidated EBITDA attributableto SS&C\n558.9\n502.4\n11.2 %\n1,115.7\n1,011.3\n10.3 %\nAdjusted consolidated EBITDA margin\n38.5 %\n36.8 %\n170 bps\n38.6 %\n37.1 %\n150 bps\nSecond Quarter 2024 Highlights:\nQ2 2024 GAAP Revenue growth and Adjusted Revenue growth were 6.5 percentAdjusted Organic Revenue Growth was 6.4 percent, Financial Services Recurring Revenue Growth was 7.7 percent.Q2 2024 we bought back 3.7 million shares for $227.0 million, at an average price of $62.17 per share. This is the highest share buyback of any quarter in our history.SS&C reported GAAP net income attributable to SS&C of $190.3 million, up 45.6 percent and adjusted consolidated EBITDA attributable to SS&C of $558.9 million for Q2 2024, up 11.2 percent.GAAP operating income margin for Q2 2024 was 22.6 percent. Adjusted consolidated EBITDA margin for Q2 2024 was 38.5 percent.SS&C will host a 2024 Analyst Day on September 18th at t...