SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Q2 2023 Earnings Conference Call July 27, 2023 5:00 PM ET

Company Participants

Justine Stone - Head, IR

Bill Stone - Chairman and CEO

Rahul Kanwar - President and COO

Patrick Pedonti - CFO

Conference Call Participants

Kevin McVeigh - Credit Suisse

Dan Perlin - RBC Capital Markets

Peter Heckmann - D.A. Davidson

Andrew Schmidt - Citi

Joe Meares - Truist

Patrick O'Shaughnessy - Raymond James

Alex Kramm - UBS

Operator

Thank you for standing by. My name is Bailey and I will be your conference operator today. At this time, I would like to welcome everyone to the SS&C Technologies Q2 2023 Earnings Call. 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]

I would now like to hand the call over to Head of Investor Relations, Justine Stone. You may begin.

Justine Stone

Welcome and thank you for joining us for our Q2 2023 earnings call. I'm Justine Stone, Investor Relations for SS&C. 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 that 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 be accessed on our website.

These forward-looking statements represent our expectations only as of today, July 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 measures to comparable 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. Results for the second quarter are $1.363 million in adjusted revenue, up 2.5% and our adjusted diluted earnings for share were $1.08, an increase in interest expense which was $118 million in Q2 2023 compared to $68 million in Q2 2022, and general expenses have put some pressure on our bottom-line. Adjusted consolidated EBITDA was $502.4 million and our EBITDA margin was 36.8%, up 103 basis points from Q2 2022.