FactSet Research Systems Inc. (NYSE:FDS) Q2 2020 Earnings Conference Call - Final Transcript

Mar 26, 2020 • 11:00 am ET


FactSet Research Systems Inc. (NYSE:FDS) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the FactSet Q2 2020 Earnings Call.

[Operator Instructions]

I would now like to hand the conference over to Rima Hyder, Vice President, Investor Relations. Thank you. Please go ahead.

Rima Hyder

Thank you, Chris. Good morning, everyone.

Welcome to FactSet's second quarter 2020 earnings call. Like many of you were also in various remote locations today. We may have some audio quality issues and we really appreciate your patience in the event we have an audio interruption. Before we begin, I would like to point out that the slides we will reference during the course of this presentation can be accessed via the website on the Investor Relations section of our website at factset.com. The slides will be posted on our website at the conclusion of this call. A replay of today's call will be available via phone and on our website.

After our prepared remarks, we will open the call to questions from investors. To be fair to everyone, please limit yourself to one question, plus one follow up.

Before we discuss our results, I encourage all listeners to review the notice on Slide 2, which explains the risks of forward-looking statements and the use of non-GAAP financial measures. Additionally, please refer to our Forms 10-K and 10-Q for a discussion of risk factors that could cause actual results to differ materially from these forward-looking statements.

Our slide presentation and discussions on this call will include certain non-GAAP financial measures. For such measures, reconciliation to the most directly comparable GAAP measures are in the appendix to the presentation and in our earnings release issued earlier today.

Joining me today are Phil Snow, FactSet's Chief Executive Officer, and Helen Shan, FactSet's Chief Financial Officer. I'd now like to turn the discussion over to Phil Snow.

Philip Snow

Thanks, Rima, and good morning to everyone, wherever you are today.

I'd like to take a moment just to address the unprecedented times are experiencing. And as ever, our foremost priority remains the health and safety of our employees, their families and our clients. We're doing everything we can to support our stakeholders around the world and our thoughts are with each of you during this extremely challenging period. FactSet has implemented its business continuity plans and our incident management team is in place to ensure we respond to changes in our environment quickly and effectively. We're also working closely with clients to support them as they implement their own contingency plans, helping them access FactSet remotely.

On the service side, we built up our support and resources to manage increased volumes, and have extended additional web IDs to clients in need of immediate remote access to financial data. Our open flexible platform is well suited for this environment and the investments we've made to-date in technology allow us to serve our clients better. Additionally, part of our three-year plan is accelerating the digital transformation, and the efficiencies and values that digital transformation bring are even more