SS&C Technologies Holdings, Inc. (SSNC) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

April 27, 2023 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the SS&C Technologies Q1 2023 Earnings Call. Today's call is being recorded and all lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. It is now my pleasure to turn today’s call over to Justine Stone, Head of Investor Relations. Please go ahead.

Justine Stone

Hi everyone. Thank you for joining us for our Q1 2023 earnings call. I am Justine Stone, Head of Investor Relations for SS&C. On the call with me today is Bill Stone, Chairman and Chief Executive Officer; Rahul Kanwar, President and Chief Operating Officer; and Patrick Pedonti, our Chief Financial Officer.

Before we get started, we need to review the Safe Harbor statement. Please note the various remarks we make today about future expectations, plans, and prospects including the financial outlook we provide constitute forward-looking statements for the purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995.

Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the Risk Factors section of our most recent annual report on Form 10-K, which is on file with the SEC and can also be accessed on our website.

These forward-looking statements represent our expectations only as of today, April 27th, 2023. While the company may elect to update these forward-looking statements, it specifically disclaims any obligation to do so.

During today’s call, we will be referring to certain non-GAAP financial measures. A reconciliation of these non-GAAP financial to comparable GAAP financial measures is included in today’s earnings release, which is located in the Investor Relations section of our website at www.ssctech.com.

I will now turn the call over to Bill.

Bill Stone

Thanks Justine and thanks everyone for joining. We started 2023 with pretty strong revenues growing $1.363 billion and adjusted revenue up 5.2%, and our adjusted diluted earnings per share, while a little soft to $1.11 was within our range and was down 11.2% from last year.

Rising interest rates obviously impacted our earnings, but we're in very good shape from a financial standpoint. We had a lot of inflation, too, especially in wages, and that also put some pressure on our bottom-line.