secwatch.observer — SEC 8-K summary
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Issuer:     Morningstar, Inc. (MORN)
CIK:        0001289419
Form:       8-K
Filed at:   2023-07-28T23:59:59+00:00
Accession:  0001104659-23-085092
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Morningstar Q2 revenue up 7.3% to $504.7M, adjusted EPS up 11.1% to $1.30
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- Revenue $504.7M (+7.3% reported, +5.1% organic); license-based revenue grew 14.8%.
- Adjusted diluted EPS $1.30 (+11.1% YoY); reported EPS $0.84 (+20.0%, includes $0.15 tax benefit).
- Operating income $41.7M (-22.6%); adjusted operating income $69.7M (-5.0%), includes $4M severance.
- Transaction-based revenue fell 18.5%; DBRS Morningstar CMBS ratings revenue down 80%.
- Headcount 12,126 (+12.6% YoY, -2.3% sequentially); China transition substantially complete by Q3 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1289419/000110465923085092/0001104659-23-085092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1289419/000110465923085092/tm2322273d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-085092

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer