Q124 SSNC earnings

Adjusted Revenue: Reached a record of $1.435 million, up by 5.3%.
Adjusted Diluted Earnings Per Share (EPS): Grew by 12.3% to $1.28.
Adjusted Consolidated EBITDA: Recorded at $556.8 million for Q1, the highest for a first quarter, with EBITDA margin at 38.8%.
Adjusted Organic Revenue Growth: Noted at 4.7% for the first quarter, indicating an acceleration driven by strength in alternatives, retirement, Intralinks, and Ops adviser businesses.
Recurring Revenue Growth for Financial Services: Reported at 6.5%, encompassing all software-enabled services and maintenance revenue.
Cash from Operating Revenue: Stood at $180.5 million for the three months ending March 31, 2024.
Debt Reduction: Paid down $79.9 million in debt, bringing the net leverage ratio to 2.95x and the net secured leverage ratio to 2.02x.
Share Buyback: Purchased 800,000 shares for $52.9 million at an average price of $63.24.

Q2 2024 Revenue Projection: Estimated to be in the range of $1.412 billion to $1.452 billion.
Adjusted Net Income for Q2 2024: Expected to be between $295 million to $311 million.
Interest Expense for Q2 2024: Anticipated to be between $112 million to $114 million.
Diluted Shares for Q2 2024: Projected to range from 253 million to 254 million, with adjusted diluted EPS in the range of $1.16 to $1.22.
Full Year 2024 Guidance: Raised by $7 million, targeting revenue between $5.65 billion to $5.855 billion, adjusted net income between $1.242 billion to $1.322 billion, diluted shares between 252 million to 255 million, and adjusted diluted EPS between $4.93 to $5.17.
Cash from Operating Activities for 2024: Expected to lie between $1.302 to $1.382 billion.

Alternatives and Intralinks Performance: Highlighted as key drivers for revenue increase.
Market Optimism: Expressed through continued discipline on pricing and successful win of big deals.
Growth Strategy: Focused on delivering new solutions and improving customer delivery and implementation efficiencies.
Investment in Blue Prism Technology: Noted significant return on investment and efficiencies within internal operations.
Restructuring for Growth: Combining of business divisions to facilitate innovation, scale, and a consistent sales process.
Cost Optimization and Technology Use: Emphasis on strengthening offerings through AI and automation technologies for improving productivity.

Bill Stone remarked on the earnings and future outlook: “We’ve had a strong start to 2024, and we are working hard to maintain this momentum.”
On organic growth trends, “We have had a lot of development work done…we’re still winning big deals. And as they go live, our financial picture will look brighter as we go through the year.”
Regarding capital allocation and market strategies, “We have lots of opportunities…We tend to be accountants cautiously optimistic as kind of for most people, wildly optimistic for us.”
Discussing M&A and market opportunities, “DomaniRx has held upgrade throughout the 4 months…and we have lots of new business that’s going to go on at the DomaniRx over the next 8 or 9 months, and we’re optimistic about our pipeline.”