Outlook for 2024 (forward-looking statement)
"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 Vice President and Chief Financial Officer. "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."
The full year outlook presented below assumes no further acquisitions, divestitures, or unanticipated events.
2024 Outlook |
|
Revenues |
$2.57B to $2.67B |
Organic Revenue Growth |
0% to 2% |
Adjusted EBITDA(1) |
$1.055B to $1.115B |
Adjusted EBITDA Margin(1) |
41% to 42% |
Adjusted Diluted EPS(1)(3) |
$0.70 to $0.80 |
Free Cash Flow(1) |
$420M to $500M |