Morningstar, Inc. provides independent investment insights, data, research, indexes, credit ratings, and investment-management services for individual investors, financial advisors, asset managers, retirement providers, institutional clients, and market-data redistributors. News about the company commonly covers financial results, product development across the Morningstar Direct Platform, PitchBook private capital market intelligence, Morningstar Credit and Morningstar DBRS, Morningstar Indexes, and Morningstar Wealth and Retirement.
Recurring updates also include integrations that distribute Morningstar and PitchBook research through external platforms, index launches and rebrands, credit-market research tools, awards tied to manager research, completed acquisitions such as CRSP, dividend actions, and governance matters.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Morningstar, Nasdaq: MORN, reported a 5.0% revenue growth for Q1 2023, totaling $479.7 million, with organic revenue growth at 2.8%. However, operating income saw a significant decline of 56.6% to $24.5 million, and diluted net income per share plummeted to ($0.18), down from $1.06 in the same quarter of the prior year. The company highlighted that while license-based areas thrived with a 16.7% revenue increase, challenges arose from soft credit issuance and market volatility affecting other revenue streams. Free cash flow turned negative at ($6.1 million), compared to ($4.5 million) a year prior. CEO Kunal Kapoor noted cautious management during economic uncertainty, with slowed headcount growth.