Gartner, Inc. (IT) CEO Gene Hall on Q3 2022 Results - Earnings Call Transcript

Gartner, Inc. (NYSE:IT) Q3 2022 Earnings Conference Call November 1, 2022 8:00 AM ET

Company Participants

Gene Hall - CEO

Craig Safian - CFO

Conference Call Participants

Jeff Meuler - Baird

Toni Kaplan - Morgan Stanley

Andrew Nicholas - William Blair

Seth Weber - Wells Fargo

George Tong - Goldman Sachs

Jeff Silber - BMO Capital Markets

Manav Patnaik - Barclays

Stephanie Moore - Jefferies

Operator

Good morning everyone. Welcome to Gartner’s Third Quarter 2022 Earnings Call. I am David of Investor Relations. At this time, all participants are in a listen-only mode. 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 third quarter 2022 financial results. And Gartner’s updated outlook for 2022 as disclosed in today’s earnings release and earnings supplement both posted to our website, investor.gartner.com. On the call unless stated otherwise all references to EBITDA are for adjusted EBITDA, but the adjustments is described in our earnings release and the supplement. 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. Finally, all contract values and associated growth rates we discuss are based on 2022 foreign exchange rates unless stated otherwise.

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 a number of risks and uncertainties, including those contained in the company’s 2021 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. Thanks for joining us. We continue to deliver incredible value to more than 15,000 enterprises around the world. This led to another strong performance in the third quarter. We achieved double digit growth in contract value, revenue, EBITDA and EPS. We have strong growth in all practices, all industry sectors, across every size plant and in every region. In addition, through Q3, we repurchased over a billion dollars of stock. Our clients continue to face a rapidly changing world, things like digital transformation, future of work, high inflation, shifting customer needs, supply chain disruptions, and more. Our clients know they need help on these issues. And they know Gartner is the best source of help. Through our actual objective insights we help executives and their teams across all major enterprise functions achieve their mission critical priorities.