secwatch.observer — SEC 8-K summary
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Issuer:     Morningstar, Inc. (MORN)
CIK:        0001289419
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0001104659-23-111747
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1289419/000110465923111747/0001104659-23-111747-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1289419/000110465923111747/tm2329171d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-111747

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