Morningstar Q3 revenue up 10.5% to $569M, EPS $2.77; CFO Dubinsky to depart

Morningstar, Inc.

2024-Q3 EPS reported $5.87 revenue$1,684,100,000

Q3 revenue $569.4M, +10.5% YoY; operating income $115.5M, +65%; Diluted EPS $2.77 (incl $1.05 gain from business sale).
Adjusted EPS $2.00, +56.3%; adjusted operating margin 22.9% vs 17.8% YoY.
Morningstar Credit revenue +34% to $70.9M, leading growth across segments.
CFO Jason Dubinsky to step down Dec 31, 2024; will consult through June 2025; succession search underway.
Free cash flow $155.8M, +53.6% YoY; debt reduced $35M.

item 2.02 item 5.02 item 7.01 item 9.01

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Departed

Jason Dubinsky

Chief Financial Officer

MORN · Morningstar, Inc.

Effective: 2024-12-31
Filed: October 23, 2024, 7:59 PM ET

On October 23, 2024, the Company announced that Jason Dubinsky, chief financial officer, will be stepping down from his role with the company effective December 31, 2024, after which he will serve in a consulting capacity through June 30, 2025.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jason Dubinsky departed as Chief Financial Officer at Morningstar, Inc..

Action: stepping down
Role: Chief Financial Officer

Exact text from the filing

On October 23, 2024, the Company announced that Jason Dubinsky, chief financial officer, will be stepping down from his role with the company effective December 31, 2024, after which he will serve in a consulting capacity through June 30, 2025.

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Morningstar, Inc. filing history →

Source: SEC EDGAR

accession 0001289419-24-000107

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