Technology

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