secwatch.observer — SEC 8-K summary
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Issuer:     Morningstar, Inc. (MORN)
CIK:        0001289419
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0001104659-22-112011
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1289419/000110465922112011/0001104659-22-112011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1289419/000110465922112011/tm2229072d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-112011

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