Morningstar Q2 2024 revenue rises 13.3%; AssetMark to acquire $12B TAMP assets

Morningstar, Inc.

2024-Q2 EPS reported $3.09 revenue$1,114,700,000

Revenue increased 13.3% to $571.9M, with organic growth of 13.6%.
Adjusted operating income surged 87.9%; operating margin expanded to 19.0% from 8.3%.
AssetMark will acquire ~$12B in TAMP assets for $65M at close, plus up to $35M post-closing.
Morningstar Credit revenue jumped 43.2% driven by strength across asset classes and regions.
Free cash flow rose to $120.8M from negative $5.8M in the prior-year quarter.

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