Morningstar Q3 revenue up 10.1% to $515.5M; adjusted EPS $1.28, up 66.2%

Morningstar, Inc.

2023-Q3 EPS reported $1.58 revenue$1,499,900,000

Reported operating income surged to $70.0M from $22.0M; adjusted operating income up 20.1% to $92.0M.
PitchBook revenue grew 19.8% (organic), contributed $20.7M to growth; Morningstar Data +10.2% organic.
DBRS Morningstar settled SEC charges for $8.0M in civil penalties; $6.0M expense in Q3.
Company reorganizing at Sustainalytics, Wealth, and DBRS due to slower growth; severance of $5.0M.
Free cash flow $101.4M, up 48.2%; operating cash flow $130.7M, up 28.0%.

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 0.9

Morningstar, Inc. reported third quarter ended September 30, 2023 results: revenue $515.5 million, net income $0.91, EPS $1.28.

Period: third quarter ended September 30, 2023
Revenue: $515.5 million
Net income: $0.91
EPS: $1.28
Result: reported results

Exact text from the filing

context on its quarterly results and business and can be found at shareholders.morningstar.com. Third-Quarter 2023 Financial Highlights · Reported revenue increased 10.1% to $515.5 million compared to the prior-year period; organic revenue grew 9.3%. · Reported operating income increased to $70.0 million from $22.0 million; adjusted operating income increased

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Source: SEC EDGAR

accession 0001104659-23-111747

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