Morningstar posts Q1 net loss of $7.6M; operating income down 56.6%

Morningstar, Inc.

2023-Q1 EPS reported -$0.18 revenue$479,700,000

Net loss of $7.6M vs net income of $46.1M YoY; diluted EPS loss ($0.18) vs $1.06.
Revenue grew 5% to $479.7M, organic growth 2.8%; adjusted operating income fell 37.2% to $51.8M.
License-based revenue up 16.7%; transaction-based down 34.2%, asset-based down 4.7%.
DBRS Morningstar revenue declined 32.4% on weak credit issuance; PitchBook revenue up 24.8%.
Paid ¥8B to terminate Morningstar Japan license; net $11.8M expense from equity method transaction.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Morningstar, Inc. reported the first quarter of 2023 results: revenue $479.7 million, net income $7.6 million, EPS ($0.18) per diluted share.

Period: the first quarter of 2023
Revenue: $479.7 million
Net income: $7.6 million
EPS: ($0.18) per diluted share
Result: reported results

Exact text from the filing

we believe they provide our clients with even more compelling reasons to extend their use of our capabilities.” First-Quarter 2023 Financial Highlights ● Revenue grew 5.0% to $479.7 million; organic revenue grew 2.8%. ● Operating income declined 56.6% to $24.5 million; adjusted operating income declined 37.2%. ● Diluted net income (loss) per share was ($0.18)

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Source: SEC EDGAR

accession 0001104659-23-051353

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