Clarivate sees FY24 adjusted EPS 70c-80c, consensus 84c

Sees FY24 revenue $2.57B-$2.67B, consensus $2.69B. Sees FY24 adjusted EBITDA $1.06B-$1.12B. Sees FY24 free cash flow $420M-$500M. “We currently expect improved organic growth in 2024 across subscription and re-occurring revenue, which will be partially offset by soft transactional revenue and a previously disclosed small divestiture in the IP segment,” said Jonathan Collins, executive VP and CFO. “With topline growth more than offset by growth investments, net of cost inflation and savings initiatives, we anticipate a modest contraction of our profit margin. Additionally, we are increasing capital spending to approximately 10% of revenues to drive product innovation and intend to utilize our strong cash flow to continue to reduce our debt.”