- MSCI Inc (NYSE:MSCI) reported second-quarter FY22 revenue growth of 10.8% year-on-year to $551.8 million, missing the consensus of $559.6 million.
- Recurring subscription revenues rose 16.9% Y/Y; Asset-based fees declined 2.9% Y/Y.
- New recurring subscription sales grew by 21.3% Y/Y.
- Index operating revenues were $320.9 million, up 4.9% Y/Y. Analytics operating revenues were $141.7 million, up 4.3% Y/Y. ESG and Climate operating revenues were $55.1 million, up 40.2% Y/Y.
- The operating margin expanded 270 bps to 54.4%.
- Adjusted EPS of $2.78 beat the consensus of $2.70.
- The adjusted EBITDA margin expanded 80 bps to 60%.
- MSCI held $842.3 million in cash and equivalents and generated $212.7 million in operating cash flow.
- Dividend: MSCI declared a Q3 cash dividend of $1.25 per share, up 20%.
- Outlook: MSCI sees FY22 operating cash flow of $1.08 billion – $1.12 billion.
- Price Action: MSCI shares traded lower by 0.23% at $437.47 in the premarket on the last check Tuesday.
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