---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-112011"
form_type: "8-K"
ticker: "MORN"
cik: "0001289419"
company_name: "Morningstar, Inc."
filed_at: "2022-10-27T23:59:59+00:00"
generated_at: "2026-06-22T23:43:12.007351+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Morningstar Q3 revenue up 9.2% but posts net loss of $0.21 per share; operating income down 67.6%

## Summary
- Revenue $468.2M (+9.2% reported, +8.5% organic); license-based up 19.4%; asset-based down 1.6%; transaction-based down 20.7%.
- GAAP diluted EPS ($0.21) vs $1.13; adjusted diluted EPS $0.77 (-44.2%); operating income $22.0M (-67.6%).
- Recorded $30.1M in costs from reducing China operations; expects completion by Q3 2023; severance $26.3M.
- PitchBook revenue +38.7%; Sustainalytics +32.3% (organic +45.8%); DBRS Morningstar -20.4% due to weak issuance.
- Amended credit facility to $1.3B; ended Q3 with $407.1M cash and $1.2B debt; share repurchases $15.2M.

## SEC filing metadata
- accession: 0001104659-22-112011
- form_type: 8-K
- ticker: MORN
- cik: 0001289419
- company_name: Morningstar, Inc.
- filed_at: 2022-10-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1289419/000110465922112011/0001104659-22-112011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1289419/000110465922112011/tm2229072d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-112011
- JSON: https://secwatch.observer/filing/0001104659-22-112011.json
- Plain text: https://secwatch.observer/filing/0001104659-22-112011.txt

## Key facts
- Earnings Releases
  Morningstar, Inc. reported the third quarter ended September 30, 2022 results: revenue $468.2 million, net income ($0.21) per diluted share, EPS ($0.21) per diluted share.
  - Period: the third quarter ended September 30, 2022
  - Revenue: $468.2 million
  - Net income: ($0.21) per diluted share
  - EPS: ($0.21) per diluted share
  - Result: reported results
  source text: product areas. We are being prudent and moderating hiring activity as we navigate the current environment.” Third-Quarter 2022 Financial Highlights · Revenue grew 9.2% to $468.2 million; organic revenue grew 8.5%. · Operating income declined 67.6% to $22.0 million; adjusted operating income declined 8.3%. The Company began to incur costs from a significant
  evidence_url: https://www.sec.gov/Archives/edgar/data/1289419/000110465922112011/0001104659-22-112011-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.