MSCI (MSCI) Tops Q1 EPS by 5c, Beats on Revenues

MSCI (NYSE: MSCI) reported Q1 EPS of $1.31, $0.05 better than the analyst estimate of $1.26. Revenue for the quarter came in at $351.3 million versus the consensus estimate of $349.01 million.

• 16.6% increase in operating revenues to $351.3 million.
• 23.5% increase in Index revenues driven by a 48.6% increase in asset-based fees and a 10.8% increase in recurring subscription revenues.
• Record increases in diluted EPS and adjusted EPS, up 55.0% and 48.9%, respectively, on strong operating results.
• Record quarter-end AUM of $764.9 billion in ETFs linked to MSCI indexes, driven by $32.3 billion of cash inflows into investment products linked to MSCI indexes, or nearly 30.0% of total global cash inflows into equity ETFs. AUM of $777.3 billion in ETFs linked to MSCI indexes as of May 1, 2018.
• 16.2% increase in total Run Rate to $1,403.1 million, driven by a 38.0% increase in asset-based fees Run Rate and a 10.8% increase in subscription Run Rate. Index Run Rate growth of 20.6% and Analytics Run Rate growth of 8.2%.
• Continued strong retention – Aggregate Retention Rate of approximately 94.6%.
• Successfully executed the divestiture of Financial Engineering Associates, Inc. (“FEA”) on April 9, 2018, which provided a non-core product serving energy and commodity companies.
• During first quarter 2018 and through May 2, 2018, a total of 1.4 million shares were repurchased at an average price of $145.27 per share for a total value of $210.0 million.
• On May 1, 2018, the Board of Directors of MSCI (the “Board”) authorized an additional $1.0 billion repurchase of shares.

For earnings history and earnings-related data on MSCI (MSCI) click here.

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