SS&C Technologies (SSNC) Tops Q3 EPS by 12c, Revenues Beat

SS&C Technologies (NASDAQ: SSNC) reported Q3 EPS of $1.10, $0.12 better than the analyst estimate of $0.98. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.13 billion.

Third Quarter Highlights:

• Repurchased 3.1 million shares of common stock in Q3 2020, at an average price of $61.44 per share for $191.9 million.
• Net leverage ratio and net secured leverage ratio are 3.58 times and 2.52 times consolidated EBITDA, respectively.
• Adjusted consolidated EBITDA increased by $20.5 million to $466.3 million in Q3 2020. Adjusted consolidated EBITDA margin was 40.3% of adjusted revenue, an increase from 38.7% of adjusted revenue in Q3 2019.
• Adjusted operating income margins were 38.8% of adjusted revenue in Q3 2020 compared to 37.0% in Q3 2019.
• Extended our partnership with St. James Place through 2034.
• On December 10, SS&C Intralinks is hosting a groundbreaking global virtual summit exploring how COVID-19 and other market realignments are reshaping the alternative investments landscape, and what lies ahead for investors and fund managers.

"Our third quarter results reflect the strength of SS&C's business model as we weather the global pandemic" says Bill Stone, Chairman and Chief Executive officer. "This pandemic has created urgency within our workforce; our sales teams have focus and energy and this is translating into great pipelines. We secured two large retirement solutions contracts with ICMA and Nationwide. We are very excited about 2021. As we move to normalcy, the health of our employees will be the deciding factor as we embark on our reopening plan."

For earnings history and earnings-related data on SS&C Technologies (SSNC) click here.

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