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Gartner (IT)
NYSE:IT
Holding IT?
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$3.26Last Year’s EPS
$3.04Same Quarter Last Year
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: -2.73%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Positive
Gartner demonstrated strong financial performance with revenue, EBITDA, and EPS exceeding expectations. The company raised its guidance for 2024 and saw significant growth in contract values and conference revenue. However, challenges in consulting revenue, tech vendor client renewals, and nonsubscription revenue were noted. Overall, the highlights appear to outweigh the lowlights.Company Guidance
During Gartner's Q3 2024 earnings call, guidance for the remainder of the year and into 2025 was optimistic, with several metrics indicating strong performance and growth potential. Contract value saw a 9% increase with enterprise function leaders and 6% growth in Global Technology Sales (GTS), alongside an 8% rise in GTS new business. Global Business Sales (GBS) reported a 12% contract value increase and 10% new business growth. Revenue for the third quarter grew by 5% year-over-year to $1.5 billion, with a 30% rise in conference revenue and a modest 2% increase in labor-based consulting revenue. Gartner has updated its 2024 guidance, anticipating at least $6.225 billion in consolidated revenue, with projected EBITDA of at least $1.52 billion and adjusted EPS of at least $11.75. The company plans to continue expanding its sales force, aiming for a mid-single-digit growth in quota-bearing headcount by year-end, and emphasizes a robust pipeline across its business segments, despite challenges in specific areas like small tech vendors and legacy CV products.Strong Financial Performance
Third quarter revenue, EBITDA, and EPS all came in ahead of expectations. Revenue was $1.5 billion, up 5% year-over-year as reported and 6% FX neutral. EBITDA was $340 million, and adjusted EPS was $2.50.
Increased 2024 Guidance
Gartner raised its 2024 guidance for revenue, EBITDA, EPS, and free cash flow. Updated guidance includes research revenue of at least $5.11 billion, conferences revenue of at least $580 million, and consulting revenue of at least $535 million.
Contract Value Growth
Contract value grew 7% year-over-year, with GBS contract value up 12% and GTS contract value up 6%. Enterprise function leaders' contract value grew 9%.
Record Conference Revenue
Conference revenue grew 30% in the third quarter, with a 32% increase as reported compared to Q3 2023. Contribution margin was 40%.
Significant Share Repurchases
Gartner repurchased more than $630 million of stock through September 2024 and is eager to continue repurchasing shares opportunistically.
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IT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $505.06 | $513.48 | +1.67% |
| Jul 30, 2024 | $470.84 | $498.77 | +5.93% |
| Apr 30, 2024 | $448.65 | $412.59 | -8.04% |
| Feb 06, 2024 | $469.79 | $461.70 | -1.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Gartner (IT) report earnings?
Gartner (IT) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Gartner (IT) earnings time?
Gartner (IT) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IT EPS forecast?
IT EPS forecast for the fiscal quarter 2024 (Q4) is $3.26.
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