Clarivate PLC
CLVT
ISIN JE00BJJN4441 / Valor 47927463
Clarivate PLC
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About company
Clarivate PLC is a global company that specializes in providing critical insights, analytics, and workflow solutions across various domains of knowledge, research, and innovation. With a workforce of over 11,000 employees worldwide, including industry specialists, consultants, and data scientists, Clarivate caters to the needs of more than 45,000 customers globally. The company's offerings are particularly notable in the biopharmaceutical sector, where it has been a partner to leading companies for over 25 years, assessing R&D and clinical productivity and delivering actionable data and insights. One of its recent innovations is the VeriSIM Life Translational Index™ on Cortellis Drug Discovery Intelligence, which offers predictive compound safety and efficacy insights. As a publicly traded entity on the New York Stock Exchange under the ticker NYSE:CLVT, Clarivate leverages its deep domain expertise to provide subscription and technology-based solutions that support the research and innovation ecosystem. The company's commitment to transforming perspectives and work through trusted intelligence is evident in its comprehensive approach to connecting people and organizations with the information they need to succeed.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (07.08.2024):
Revenue Decline
Clarivate PLC reported revenues of $650.3 million for the second quarter of 2024, marking a decrease of 2.8% compared to the same period last year. This decline was primarily attributed to the divestiture of Valipat in April 2024 and the negative impact of foreign exchange due to the strengthening of the U.S. dollar.
Net Loss
For the second quarter of 2024, Clarivate PLC experienced a net loss of $304.3 million, translating to a net loss per diluted share of $0.46. This represents a significant financial challenge for the company during this period.
Adjusted Earnings
Clarivate PLC's adjusted net income for the second quarter of 2024 was $142.2 million, a decrease of 6.6% from the previous year. The adjusted diluted earnings per share (EPS) also saw a decline, dropping by 4.8% to $0.20.
Cash Flow
Net cash provided by operating activities for the second quarter of 2024 was $126.2 million, a decrease of $36.2 million compared to the same period last year. Free cash flow also saw a significant reduction, falling by $44.5 million to $60.3 million, primarily due to the timing of working capital.
Outlook for 2024
Clarivate PLC reaffirmed its financial outlook for the full year 2024, expecting results to be in line with previous projections. The company plans to adopt a more balanced approach to capital allocation in the second half of the year, leveraging its strong cash flow to support this strategy.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
3371 M
Market cap (USD)
269,446
Daily traded volume (Shares)
5.015 / 4.93
1 day high/low (USD)
52 weeks high/low (USD)
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EPS (USD)
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Ratings & reviews
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