Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessClarivate Plc (NYSE:CLVT) Q3 Earnings Overview

Clarivate Plc (NYSE:CLVT) Q3 Earnings Overview

Add to Favorite
Added to Favorite


Clarivate Plc reported a Q3 EPS of -$0.09128, missing estimates, with revenue at $622.2 million also below expectations.
The company saw a 3.9% decrease in revenue to $622.2 million, with a net loss of $65.6 million for the quarter.
Financial ratios indicate challenges, including a negative P/E ratio of -2.68 and a current ratio suggesting liquidity concerns.

Clarivate Plc (NYSE:CLVT) is a global leader in providing transformative intelligence, offering data and insights to accelerate innovation. The company operates in a competitive landscape, with peers like Thomson Reuters and Elsevier. On November 6, 2024, Clarivate reported its third-quarter earnings, revealing an EPS of -$0.09128, missing the estimated $0.19. Revenue was $622.2 million, below the expected $640.85 million.

During the earnings call, CEO Matti Shem Tov and CFO Jonathan Collins addressed analysts from major financial institutions, including Oppenheimer and Morgan Stanley. They discussed the company’s financial performance and strategic initiatives. Clarivate’s revenue decreased by 3.9% to $622.2 million, with organic revenues down 2.6%. Subscription revenues rose by 0.6%, but re-occurring and transactional revenues fell by 1.1% and 13.6%, respectively.

The net loss for the quarter was $65.6 million, translating to a net loss per diluted share of $0.09. Adjusted net income dropped by 12.1% to $134.1 million, and adjusted diluted EPS decreased by 9.5% to $0.19. Adjusted EBITDA was $264.4 million, a 6.0% decline, with the adjusted EBITDA margin falling by 100 basis points to 42.5%, mainly due to lower revenues.

For the nine months ending September 30, 2024, Clarivate’s revenues decreased by 2.6% to $1.89 billion. Organic revenues declined by 1.5%, with subscription revenues increasing by 1.2%. However, re-occurring and transactional revenues decreased by 2.3% and 9.3%, respectively. The net loss for this period was $444.9 million, with a net loss per diluted share of $0.69.

Clarivate’s financial ratios reflect its current challenges. The negative P/E ratio of -2.68 indicates ongoing losses, while the price-to-sales ratio of 1.35 suggests investors pay $1.35 for every dollar of sales. The debt-to-equity ratio of 0.85 shows moderate debt levels, but a current ratio of 0.88 raises liquidity concerns.

Subscribe to get Latest News Updates

Latest News

You may like more
more

Arch Capital Group’s Market Outlook and Financial Performance

Michael Zaremski from Capital One Financial set a price...

Jazz Pharmaceuticals’ Financial and Operational Highlights

Earnings per Share (EPS) of $3.40, missing the estimated...

Clean Energy Fuels Corp. (NASDAQ: CLNE) Financial Performance Review

Clean Energy Fuels Corp. (NASDAQ:CLNE) reported a revenue of...

Ashland Inc. (NYSE:ASH) Quarterly Earnings Overview

Ashland Inc. (NYSE:ASH) reported a revenue of $522 million,...