Q2 2024 Verisk Analytics Inc Earnings Call Transcript
Key Points
- Verisk Analytics Inc (VRSK) delivered solid organic constant currency revenue growth, led by strong subscription growth of 8.3%.
- The company experienced healthy organic constant currency adjusted EBITDA growth and strong margin expansion, translating into 15% adjusted EPS growth.
- Verisk Analytics Inc (VRSK) continues to invest in innovation and technologies, enhancing client offerings and driving long-term value.
- The company reported a significant increase in income from continuing operations, up 51% versus the prior year.
- Verisk Analytics Inc (VRSK) maintained a strong balance sheet with $632 million in cash, providing financial flexibility for future investments and shareholder returns.
- The company faced modest declines in its transactional business due to historically high volumes in auto shopping and elevated weather-related activity in the prior year quarter.
- There was a drag on transactional growth from the conversion of transaction-based contracts to subscriptions, impacting short-term revenue.
- The company expects tough comparisons in auto-related transactional revenues for the balance of the year.
- Verisk Analytics Inc (VRSK) experienced a slowdown in growth from the first quarter, reflecting tough comparisons to the prior year's high transactional revenue.
- The company anticipates higher net interest expense in the second half of the year due to recent financing transactions.
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First conference call. This call is being recorded. Currently, all participants are in a listen only mode. After today's prepared remarks, we'll conduct a question and answer session where we will limit participants to one question so that we can allow everyone to ask a question we will have for the instructions for you at that time. For opening remarks and introductions, I would like to turn the call over to Verisk's Head of Investor Relations, Ms. Stacey Brodbar. Please go ahead.
Thank you, operator, and good day, everyone. Appreciate you joining us today for a discussion of our second quarter 2024 financial results. On the call today are Lee Shavel, Verisk's President and Chief Executive Officer; and Elizabeth Mann, Chief Financial Officer.
The earnings release referenced on
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