- Consolidated revenues were $746.3 million, down 0.2%, and up 5.3% on an organic constant currency (OCC) basis for the second quarter of 2022. The decline in our consolidated revenue was primarily due to the sale of our environmental health and safety business (3E) and Verisk Financial Services segment.
- Net income attributable to Verisk was $197.7 million, up 28.4% for the second quarter of 2022. Adjusted EBITDA, a non-GAAP measure, was $380.8 million, up 2.7%, and up 4.4% on an OCC basis.
- Diluted GAAP earnings per share (diluted EPS) attributable to Verisk were $1.24 for the second quarter of 2022, up 31.9%. Diluted adjusted earnings per share (diluted adjusted EPS), a non-GAAP measure, were $1.53, up 30.8%.
- Consolidated and OCC Revenue and Adjusted EBITDA growth were negatively impacted by the suspension of all commercial operations in Russia in the second quarter of 2022.
- Net cash provided by operating activities was $130.2 million, down 44.2% and free cash flow, a non-GAAP measure, was $61.0 million, down 64.3% for the second quarter of 2022. Both cash flow measures were negatively affected by a $122.0 million increase in tax payments primarily related to the gain on disposition.
- We paid a cash dividend of 31 cents per share on June 30, 2022. Our Board of Directors approved a cash dividend of 31 cents per share payable on September 30, 2022.
- We repurchased $325.0 million of our shares during the second quarter of 2022.
JERSEY CITY, N.J., Aug. 02,…
