Gartner, Inc. (IT) Tops Q4 EPS by 77c, Revenues Beat

Gartner, Inc. (NYSE: IT) reported Q4 EPS of $1.59, $0.77 better than the analyst estimate of $0.82. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.07 billion.

FOURTH QUARTER 2020 HIGHLIGHTS

• Revenues: $1.1 billion, -8% as reported; -9% FX neutral.
• Net income: $120 million; adjusted EBITDA: $245 million, +13% as reported, +10% FX neutral.
• Diluted EPS: $1.33, +77%; adjusted EPS: $1.59, +35%.
• Operating cash flow: $260 million; free cash flow: $237 million, +>100%.
• Repurchased 0.6 million common shares for $100 million.
• Board of Directors increased the share repurchase authorization by $300 million.

Gene Hall, Gartner’s Chief Executive Officer, commented, “Gartner delivered strong results in 2020 despite a challenging economic environment. Research resilience continued, we successfully pivoted our conferences to a virtual format, and effective cost management drove outstanding EBITDA and Free Cash Flow. We are well-positioned for 2021 and to drive both double digit top-line growth and margin expansion in the years beyond.”

For earnings history and earnings-related data on Gartner, Inc. (IT) click here.

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