FactSet Research Systems Inc. (NYSE:FDS) Q3 2020 Earnings Conference Call - Final Transcript

Jun 25, 2020 • 11:00 am ET


FactSet Research Systems Inc. (NYSE:FDS) Q3 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Ladies and gentlemen, thank you for standing by, and welcome to the FactSet Q3 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Ms. Rima Hyder, Vice President of External Communications. Thank you. Please go ahead.

Rima Hyder

Thank you, Jimmy. Good morning, everyone. Welcome to FactSet's third fiscal quarter 2020 earnings call. Like last quarter, we are in various remote locations today. We may have some audio quality issues and we appreciate your patience, should we experience a disruption.

Before we begin, I would like to point out that the slides we will reference during this presentation can be accessed via the webcast 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 legal 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, Chief Executive Officer; and Helen Shan, our Chief Financial Officer.

I'd now like to turn the discussion over to Phil Snow.

Philip Snow

Thanks, Rima, and good morning, and good afternoon to everyone.

To start things off, I'd really like to thank the entire FactSet team for its remarkable efforts over the last quarter. It's really inspiring to see how FactSetters ago going above and beyond each day to support our clients and each other as we all explore new ways of working.

We've been positively surprised on how quickly we've been able to adapt to working in new ways and are actively evaluating what this could mean in terms of efficiency, productivity, client experience, talent and work-life balance for our employees.

We've maintained a high-level of engagement with both clients and employees over the last quarter and we show healthy trends in client usage and interactions with our client service team. Our annual hackathon had a record number of projects submitted this year with some fantastic ideas. And FactSetters around the world continued to support our communities through company-wide volunteering and donation efforts.

Let me talk a little bit about digital transformation and our investment plan. The events of this year