Q3 2024 MSCI Inc Earnings Call Transcript
Key Points
- MSCI Inc (MSCI) achieved total revenue growth of 16%, adjusted earnings per share growth of 12%, and free cash flow growth of 46%.
- The company reported asset-based fee revenue growth of nearly 20%, driven by record AUM balances in both ETF and non-ETF products linked to MSCI indices.
- MSCI Inc (MSCI) maintained a high retention rate of 94%, indicating strong customer loyalty.
- The company achieved significant growth in its wealth management segment, with direct indexing run rate growth of 22%.
- MSCI Inc (MSCI) is expanding its private capital solutions, with a 17% run rate growth and new recurring subscription sales of over $6 million.
- Net new recurring sales in the ESG and climate segment were down significantly from last year's levels, indicating subdued demand.
- New recurring subscription sales among asset managers were down 5% year over year, reflecting cyclical pressures.
- The company expects elevated cancel activity and longer sales cycles to continue in the near term.
- MSCI Inc (MSCI) faces challenges in the ESG and climate segments, with a cyclical downturn impacting growth.
- The analytics segment experienced an uptick in cancellations, affecting net new recurring subscription trends.
Good day, ladies and gentlemen, and welcome to the MSCI third-quarter 2024 earnings conference call. As a reminder, this call is being recorded. (Operator Instructions)
I would now like to turn the call over to Jeremy Ulan, Head of Investor Relations and Treasurer. You may begin.
Thank you. Good day, and welcome to the MSCI third-quarter 2024 earnings conference call. Earlier this morning, we issued a press release announcing our results for the third quarter of 2024. This press release, along with an earnings presentation and brief quarterly update are available on our website msci.com, under the Investor Relations tab.
Let me remind you that this call contains forward-looking statements, which are governed by the language on the second slide of today's presentation. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made, are based on current expectations and current economic conditions and are subject
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
