Gartner, Inc. (IT) Q1 2023 Earnings Call Transcript

Gartner, Inc. (NYSE:IT) Q1 2023 Earnings Conference Call May 2, 2023 8:00 AM ET

Company Participants

David Cohen – Senior Vice President-Investor Relations

Gene Hall – Chief Executive Officer

Craig Safian – Chief Financial Officer

Conference Call Participants

Jeffrey Meuler – Baird

Heather Balsky – Bank of America

Toni Kaplan – Morgan Stanley

Seth Weber – Wells Fargo

Andrew Nicholas – William Blair

George Tong – Goldman Sachs

Jeff Silber – BMO Capital Markets

Manav Patnaik – Barclays

Stephanie Moore – Jefferies

David Cohen

Good morning, everyone. Welcome to Gartner’s First Quarter 2023 Earnings Call. I’m David Cohen, SVP of Investor Relations. [Operator Instructions] After comments by Gene Hall, Gartner’s Chief Executive Officer; and Craig Safian, Gartner’s Chief Financial Officer there will be a question-and-answer session. Please be advised that today’s conference is being recorded.

This call will include a discussion of first quarter 2023 financial results and Gartner’s outlook for 2023 as disclosed in today’s earnings release and earnings supplement both posted to our site investor.gartner.com. On the call, unless stated otherwise, all references to EBITDA are for adjusted EBITDA, with the adjustments as described in our earnings release and subsequent. Our contract values and associated growth rates we discuss are based on 2023 foreign exchange rates and exclude contributions related to the recent divestiture and the Russia exits. All growth rates in Gene’s comments are FX neutral, unless stated otherwise. All references to share counts are for fully diluted weighted average share counts unless stated otherwise. Reconciliations for all non-GAAP numbers we use are available in the Investor Relations section of the gartner.com website.

As set forth in more detail in today’s earnings release, certain statements made on this call may constitute forward-looking statements. Forward-looking statements can vary materially from actual results and are subject to number of risks and uncertainties, including those contained in the company’s 2022 annual report on Form 10-K and quarterly reports on Form 10-Q as well as in other filings with the SEC. I encourage all of you to review the risk factors listed in these documents.

Now I will turn the call over to Gartner’s Chief Executive Officer, Gene Hall.

Gene Hall

Good morning. And thanks for joining us today. Gartner drove strong performance in the first quarter with double-digit growth in contract value, revenue, EBITDA and EPS.

The rate of change and uncertainty in the world continues to accelerate. The tech sector is adjusting to post-pandemic demand. The banking industry is grappling with rising interest rates. Many industries have been impacted by rising inflation and more. Enterprise leaders and their teams need actionable objective guidance. Gartner is the best source for the insights, tools and advice that makes the difference between success and failure for these leaders and enterprises they serve.