IT - Earnings call transcript Q4 2018

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning, and welcome to the Gartner Fourth Quarter 2018 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded. I would now like to turn the conference over to David Cohen, Gartner's GVP of Investor Relations. ahead. go Please

David Cohen

and and quarter us Heather, today's call. everyone. appreciate outlook a as Executive We me This XXXX, Financial Thank will for financial call for good release. results Gartner's press joining include Officer; Chief Hall, today are of earnings in Safian, fourth you Chief today Officer. fourth you, discussion Gene morning, Craig XXXX quarter disclosed With our XXXX and

earnings press of review full In earnings investors we CEB, and release, supplement addition This removes an we detailed for included non-GAAP operating analysts, provided a X, business XXXX. divestitures today's operations. Heritage divested of and the table which in a the to January excluding supplement, we the and starting Heritage have combines and financials results P&L, metrics. provided In our Gartner

as gives we into will table net on how the for move XXXX. press these debt the we'll This our the for is proceeds provides business We've introduce products Operations. XXXX Gartner to We've release products leaders on. with in across business of GML; supplement EPS these view Sales that are reflects more Leaders Business and the Business for XXXX, thinking the the the and of the business for on to note website posted divestitures for or past has refer from In over GXL. the discussion the products products. in and to Gartner For investor.gartner.com. we five Marketing repay you to aggregate, GXL six will Leaders down to These the future. the refer is earnings introduced leaders results as quarters had adjusted enterprise. used XXst, a Please renamed so Finance December Global as our about align the Events we we GBS, Conferences Also are been our we segment XXXX. if GFL

that your Following for and to limit and you one open we the We Craig, Gene by will up questions call up. comments ask your questions. follow

our unless divested revenue are On revenue Gene's accounting All stated earnings stated section operations related website. with exclude adjustments flow release divested as excluding available numbers excluding Investor comments for adjusted margin, operations, and stated call, EBITDA, recently the use adjustments in for are all reported numbers contribution and the of adjustments excluding otherwise adjusted references deferred are divested divested all which EBITDA All and the in growth excluding operations adjusted contribution the purchase FX cash businesses. the described no rates references are neutral, as All the margin we otherwise, operations. Relations non-GAAP and divested with in the divested are revenue, the Reconciliations unless operations. for unless gartner.com to to to otherwise.

operations. Finally, indicates all earnings XXXX based excludes on metric foreign discuss divested exchange the D.O. contract ex that the values and associated In the are abbreviation growth supplement, rates rates. we

statements. on today's As set call earnings more certain constitute release, statements forward-looking forth may made in in detail this

including actual other XX-K risk of as from all quarterly on reports in and to and SEC. documents. in on annual you results materially vary and XX-Q listed can number these subject the as risks Form of encourage with those to report statements Forward-looking uncertainties, are well Form company's in I factors the XXXX a the contained filings review

over Officer, Gartner's turn to Chief Now, Gene I the will Hall. call Executive

Gene Hall

us. and morning, was Good for thanks XXXX strong a joining year.

while on innovation, the world-class operational execution have progress leading across every core role of to making strategy our market positions continue establishing the and We in enterprise.

future service sales the lows. forces we to open growth. We substantial products, in sustained double-digit grow drive to business, sales Across business record investments our made accelerate to sales GBS in invest to reduced continue and We growth. positions and

enterprise XX% businesses also in critical the We on to to several substantial that performances impact. Research, our double-digit opportunity. Research strong We of were ensure non-core enormous One delivered fueled total We growth, as support another over businesses. growth. level revenues focus global investments support XX%, divested of recruiting fueling XXXX, factor and sustained double-digit from have their Consulting In critical up around great Conferences by up returns XX,XXX functions, consistent market our talent provided Formula to insights, the year infrastructure. We growth. Gartner XXXX. such excellence in consists for had Few we indispensable with the our made and growth organizations leading double-digit world, for market exceptional enabling mission growth XX,XXX sustained countries this our our to of jobs world talent, the sales The application Formula. around is priorities. It and clients helped driving delivered Gartner associates is XXX of shareholders. playbook for strong

practices For all these, and globally execution improvement drive continuous and of consistent of we best innovation.

Business by We and We delivered accelerate every application of source to value. continue GTS digit within GTS, Formula proportion represents virtually Sales, three Gartner and primary for in Global performance of growth Contract in XXXX. total to or teams double reduction improved. our in growth Global in and and again their territories. a the apply growth of and GBS. contract Gartner GTS, our continued XX% region to or every industry. continued force to acceleration in sales XX% company Technology This sized is leaders the value IT and open factors: the In Sales, Formula our productivity across sales every increased growth, driven consistent

outside services This including same has have HR, several as of we've legal, finance, as addressed major execution well more. as we which our for chain of their supply enterprise Each roles and IT. needs best level sales marketing, XXXX and the years IT. roles these for serves other GBS of yet includes programs. teams and these During leaders of the

and dynamic changing. successful Talent future For example, on build constantly it effectiveness outcomes. decisions analytics that capabilities use We analytics. HR business leaders and are HR their talent depends and help leaders recognized analytics talent capability drive and

Over an incredible has continually offering are HR have HR supply is sales, IT billion. is time, our marketing having gives potential leaders GBS This large. equally contract example to could So be Finance, the as adapt. over offering chain our and why IT as potential. of of $X business HR leaders. This our is value for HR growth essential for to leaders

in objective XXXX, growth. Our products, build In in foundation realize for sustained key XXXX processes put was to implementing incredible to We're across and special for the growth sales growth Gartner double-digit areas, opportunity. Formula initial GBS. this emphasis force three we the

As as provide to individual to products growth stronger in prices compared higher to delivered because David to GXL sustained leaders they're value turn tailored for clients’ products business This for in clients said, retention. products. GXL. They needs. the we refer and greater our results user legacy

provide and successful. marketing products opportunities, GXL time, products they’ve and these for products GXL in business they've GXL growth can including throughout Beyond continue very in GBS products the been exponentially we'll and more XXXX, our very high-value for roles. products pricing supply because and clients’ roles, been added late organizations. Beginning our chain the XXXX add HR, largest in we Over in legal. sell products more retention, we We've GXL other business, We've GXL sales our successful. had also finance,

practiced and Another growth training, best is processes. essential element for tools sustained

training, in the past the or world. developed best tools that sales the we've and processes, decade, among Over TTS, are

these isn’t to these become GBS During the began the can sales best practices with from best XXXX, take change a doing It's proficient. practices. The learning use previously people things force we talented, to experienced easy. of sales and equipping significant years

best year people. GBS way These to people experienced in sales managers productivity and year. GTS, highly that full hired year first again Gartner hires sale they achieve sales better to time the And years new virtually they One to the to to them fully double all improve talented the their XXXX. second some win we learn their continues in example, practices. It need is In to take think become three. their almost will year For three proficient. take Like experience with hires in first Gartner about productivity.

for other sets grew growth us up products XXXX, in Formula, With the the which XX% and XXXX capacity beyond. sales we Gartner and long-term during

continued and were rolled during sell to growth products new half higher growth. legacy long-term sales the people the out first aggressive late products GXL a practical. sales piloted in the people We at pipeline. As to provide begin foundation legacy products. trained during from their Sales double-digit Beginning to GXL as transition people products of products existing to half this selling only XXXX. the The we fast mid-year, were GXL in company, as new value building out XXXX. We first close

legacy result, the second in As in but first were stopped the robust a half. half, sales of products

sales and went accelerated As the products expected rapidly curve sales the up throughout GBS force GXL XXXX. of learning

these almost mid weren’t of GXL million from sold sales products tripled were sales more $XX that from And year. business, Our $XXX of million until launched XXXX. the than force new almost half fully

had from transition legacy growth. XXXX legacy impact decline contract value during our the outpace in GXL accelerated sales. XXXX enough not but However, to fast has GXL to on the an

gain achieve continues by contract experience expect products GXL we value end in our double-digit selling to force year. of sales the As to growth XXXX, the

replace noted products. yet As GXL products we to legacy introduced all I earlier, haven’t

don’t people continue we selling introduce have sales will GXL GXL replacement. we products people sell. So legacy have to products the until sales These

still until As new product some legacy at we’ll business a point. result, that

up sales XXXX entered more sales force in That and tenure with curve. further we larger in learning productivity GBS, So XX% a it’s is force.

We our products, of full we’ll growth. GXL This have of higher which to have our have double-digit retention. retention And a programs. year a path mix greater is

in well Beyond segment performed awareness to Research, profit. yet. attendees, its while Conference incredible newly our businesses million from very the and Consulting insights value XXXX. conferences. than Conferences Conference The and best results. conference year surpassed our Investments XX% Gartner clients them making of in began strong building were our had and our up delivered brand Events because more organizations driving get business made sales we $XXX critical to these Revenue the was in tremendous

the strong in-depth of Research, accelerated the our on engagements. Events longer going to compared to business providing for the year for no more extends term remains XXXX. metrics forward-looking segment to prior The XX% Gartner expertise growth to growth Conferences acquisition. Our than value our Consulting

Our Consulting grew during business X% XXXX.

year business meet grew needs. XX% Moving base, in investments ended year-over-year, sets growing our overall our labor-based up talent contract up recruiting of long-term X%, SG&A backlog, XXXX. drove great to G&A grew our us optimization the than We and XX%. our our included a business. This which a with strong both for slower capability improvements the XXXX. over business

investments We As in significant company, drive made a growth. future growth three areas. sales in we to invested

sales First, our and value the the was largest of the growth open GTS expanding to a key territories. reducing was This contract force contributor GTS acceleration. investment number and

year. record-breaking force was global invested invested a a was a a sales in growth. In the growing the And of for sales major in year. we number force, and conferences great about finally, Conferences, foundation expanding GBS factor XXXX a strong provides summary, expanding We XX%. in This territories. reducing open headcount future also having This

have operational while job our our the leading our world investments and with made to critical of establishing execution great of here sustained is returns core And shareholders. in-depth indicators year associates across for the across our another clients give We assist delivered mission We and and you business support continue view our in world-class We on Safian, making Craig? around their innovation, Craig market CFO, for leading to our priorities, double-digit of every the now strong. role to financials. growth strategy an provided market enterprise. leading positions are progress

Craig Safian

EBITDA contract And we total and for $XXX results broader Demand year quarter, to diluted provide of us excellent per around our total ability segments. in Gene, functions and and FX-neutral more was company X%; an much everyone. of share first across million. adjusted financial financial our growth fourth the operating year-over-year $X.XX addressable included: revenue growth market of free value to our cash adjusted On good advice full the services XXXX even the world. Thank clients clients. earnings giving insight for a XXXX you, across the and enterprise performance value XX%; of XX%; It three of for providing of delivered our year flow morning, robust exciting basis, to growth remains Gartner. all was

in XX% billion, was As XX% basis. a our FX-neutral we on digit XXXX outlook deliver quarter up an and generation. EBITDA Fourth revenue cash growth with revenue demonstrates, strong expect and reported on $X.X double basis, FX-neutral flow to

major prior CapEx ahead the was delivered $XXX up modestly also cash $X.XX. some the margin as We year, XX from X% of year-over-year X% quarter XX%, million FX-neutral projects adjusted XXXX. about expectations of contribution and and points EPS million, of EBITDA was slipped flow $X basis up in Free into

FX-neutral excellent X% and Research billion had on report the the terms. We contract XX% $X.X an prior Research quarter always XX.X% December of at value grew versus fourth growth Our was FX-neutral Total in quarter. growth XXst, contract business year. another basis. revenue in value

revenues versus year. performance year Research and basis we've the was year-end. XXXX, sequentially full fourth value GTS The GTS. basis. a years. FX-neutral with remained XX% retentions reported contribution new retention increased contract of For by highest quarter, the on an growth Research These strong Wallet and margin for consistent client on was and XX.X% XX% of for of On at XXX% prior for GTS $X.X grew Page year-over-year. quarter XX% X reported fourth you prior of supplement, its GTS for the the will XX%. overtime. increased year. last value the every quarter, GTS year-over-year, contract see earnings each XX% had details rate basis both growth retention more reflect In up rates year accelerating the Client points business and GTS billion spending at us of for XX with GTS versus the

an The value This enterprise $XXX,XXX and at spends see existing quarter but to with through the new years, services spend six new CV has enterprises. only weeks both additional average we of in and the continue upgrades still five ability average continues increased over clients. enterprise enterprise for past ended GTS clients, our compared consistently to to has Average several still have meaning enterprise new our fourth clients, to stand plenty within and growth to grow. force a sales clients. for X%. over reflects drive existing improve XX,XXX mix business We quarter. opportunities two up we with continue our in this have They penetration increase the pay sales XXXX. investments up off to productivity again for continued We across made existing past years through X% incremental QX The GTS, of increase also consistent of the to and average of now contract

growth course NCVI, improvement. beginning fourth year-over-year the led was last is increase, or GTS, year. in combination divided rate salesperson, For by growth and X% consecutive versus headcount its the net per quarter up $XXX,XXX the headcount quarter over XXXX. to fifth This value of productivity productivity contract improvements accelerating The period of of quota-bearing the of the year-over-year GTS

Turning to GBS.

CV. foundation was Gene, for XXXX from double-digit growth heard you in As our focus future sustained on building GBS in the

All GBS sales our of largest metrics reflected of the of products. discontinuation legacy

purposeful discontinuations allows Gene As described that X% strategy the GXL up on versus million, contract at have GBS focus teams been based on to going year value a sales $XXX XXXX. forward. products the our finished

future also Gene our is discussed, products. As GBS the GXL of

an total from drove at $XXX to XXXX from we contract value increase to Looking XX% from of GXL XXXX. million, the products, $XXX million year-over-year,

metrics. Just last was was generated XX% retention from of for XX GBS GBS XX%, in On of in the we summary will client GBS quarter, the see and Page the quarter. Finance down new CV. fourth wallet HR of XXX% year. together, earnings supplement, you $XX our usual million retention

the prior about year. New business X,XXX by the GBS X% year XX% period. the quarter the clients, We prior in fourth ended quarter declined versus versus down with

$XXX,XXX. GBS, Those productivity the period For headline NCVI, about were per The GBS value headcount increased value net enterprise The X% results. significantly. contract increase, provided contract year-over-year was average declined to quota-bearing at by $XX,XXX. or the beginning

that and see on grey for and see Shown supplement. as GXL the chart However, products. drill favor new the they GXL new the in to of page, selling growing to products. to we left left for Page XX, XX% the The details GXL the GBS decision grew XXX%. the you’ll find this course revenue, an XXXX, is sales our in addition $XXX is and CV. flow. we an we of by are the really legacy the on sellers products. provided the growth frontline headcount We that year of the some during the and GXL business new we to they growth in transition and XX%, to you’ll products million declined of to making GXL In included the GBS over make discontinue made products future cash important are what sold most XXXX the which and new those down, The in Improvements as To drivers of the quarter XXXX, XXXX, sales increases On products. leads you’ll XXXX. from usual bottom course of of both business bridge GBS And have same top of sales than $XX worth new number ramped new force that in happening as of strategic will our obviously business secured CV GTS, productivity. the reference XXXX million earnings the more profits the development, started depicts over over data as transition increase

in experience, retention accelerated As new improves sales turn force increases continues improves, this they will drive growth. both. gaining when Productivity business larger or

we and breaking we're out going numbers. this quarter reporting, headline While you help business combine see below to on attrition new our the in typically them what's

person. methodology team for productivity headcount. business complete overall, This calculated productivity provided than On new GBS new we sales period this much comparable business measure, measure is we is for of how at XXXX a the as by New our opening is longstanding sales XX-month business trailing selling of more use measure. ended $XXX,XXX to GBS for the

new most for as for in newest partial products XXXX, the New started more late from compares In which time year. legacy we areas, products since That launched the other to a the was going pilot more or sales practice continues XXXX's new business. is fully the until will are than that million not ramp late team that only of introducing zero. $XXX new one with year sold half to Almost to them $XX GXL XXXX. The didn't of of XXXX. GXL thing note business last to million had productivity team be has business

still there launched GXL we the all products have until primary areas, GXL will to are leadership in products. continue launch we functional replacement business While new that the have councils

the the expect we shift high of GXL to retention As we CV rates. more products,

still XX% GBS we that's is XX%, XX%, GTS at close XXXX blended reduce retention. The While is our engagement individualized There attrition. of know to to is CV drivers almost around attrition, expanded a underlying not and better teams meets service about we've legacy naturally. service GXL and levels. the Exiting attrition license on attrition engagement an as the content basis, great opportunity does facilitate because the are enterprise than

As will even just accelerating. see attrition we or from moves XX% rate the the lower, towards under rate GXL growth

of CV Page path the GBS retention to model we think high with continue and high that we enter of end by we as about XX strategy to to year. products, GXL XXXX, level digit manage place towards retention the is and supplement, you double-digit stability growth the outlined organization double in the in help the With team the On of we growth incremental success the we the having way improvements programs the drive new this have to do. their levels, a CV

productivity onboard tenure sensitivity and products. to retention we If broader people already or You double make programs retention, GBS in about in better We set new and can of new retention. the don't CV digit XXXX. of growth place for any with grow through X% and and business compelling in more more a productivity improvements new attrition, the sales see mix product will of combination improvements get business a

and we improvement course, innovation. continuous Of focused are on

see XXX XXX every growth. in improvement points basis basis attrition, in points improvement will For we

in a XXX-basis-point new business we productivity, every only a see in improvement For improvement. will X% growth. $X,XXX That's improvement

Looking XXXX, in retention, back in increases at productivity outstanding the contract GTS business value. an had and sales with Research year wallet accelerating

returns in seeing on We spending and XXXX. we are did XXXX the increased

our for quarter, million. sales teams the up propositions products conference with $XXX On FX-neutral quarter approach. go-to-market to FX-neutral future. The market QX XX%. and GVS, tremendous and XX% built progress We we revenues had XX consistent increased revenues conferences were the the have increase a foundations decelerated new the Conferences, destination with In adapting products have validated For was in basis, the in XX% CV an attendees. the while same fourth year-on-year in growth made value XX% year. same by last in conference to

points by margin FX-neutral reported from full and on contribution XX%, for the increase year the For increased XX% basis. an XXXX, about of revenue year was basis both XXXX. Gross XXX

versus in ever. in paid is we Fourth you by our a X% year was its about know, basis. XX% quarter to our $XX increased labor-based $XX revenues had Conferences of as last revenue were investments year million. FX-neutral investments In of revenues increased made best off Consulting FX-neutral X% million. Labor-based or As growth business, of XXXX. on business conference XX%. QX an Those number support

of had Labor-based in of Europe QX, by the headcount Utilization we lower backlog we million, the On side ended backlog. managing XXX $XXX of versus had on partners of Europe FX-neutral basis. at we XXX was exited prior up XXXX. year. XX% an global X%, was Overall, XX% quarter up X% backlog about up affected position and at the as year-over-year where The improved the levels end

up quarter. encouraging. contract remained optimization over business XXXX XX% performance bookings prior The and year was the pipeline our Our versus strong is

For FX-neutral, up XX%, contribution basis XX by its year, points to the full and or Consulting XXXX. X% revenue of gross compared X%, was increased

and overall FX-neutral in basis XX XX As fourth quarter an QX XX% margins the over basis. the points the the for I by XX% mentioned earlier, full on basis for increased XXXX. year approximately SG&A in year-over-year improved gross points of or whole business

of The long-term. sales increased the recruiting like world. to in capacity number infrastructure the sustained the to functions continue grow delivering human growth enabling of strategy resources over and associates real and double-digit around to investments enabling estate includes support infrastructure We the our support

for GTS associates end includes be sales and of X,XXX and to of growth respectively. GBS, quota-bearing at investment. And had our in Research. continues the Our in largest foreign fourth the XX% X,XXX XX% we XXX force This quarter,

biggest and and about on to that third SG&A basis year, reinvest we and modest which see XX% a to support one shows leverage G&A, as over number some can returns drive grew the increase SG&A, we've reported about intangibles XX% was acquisition we will QX XXXX. represents course selling our debt over the resulted full of teams G&A, for rate, the year-over-year X% future. quarter XXXX have continue in the adjusted investments results a leverage Depreciation the down and we the past reduce last And we basis. XXXX, fourth getting been million, XXXX, in those we FX-neutral. expected fourth was of to areas million the In up XXXX. made net past the X%, EBITDA with of and adjusted other million value reached growth. to grew GTS, the The non-deductible rolls the Integration For our Interest were territories income, than $XX from improving was across open expense we've EPS XXXX. doubling the in This returns moved territories, reported investing on investments Adjusted investments million neutral our and for operating $XXX Adjusted their that we GBS. calculation even We've saw quarter growth $X.XX. from contract the settlements tax increased in launching investments. audit FX of The these higher open paying of took quarter. an down growing made QX are amortization expecting drive of expense to rate the XX.X% for advent to products, XX-months double-digit supported and of service a step investments which translate territories, part a for infrastructure Conferences used as improvements in business, reducing has rate lower adjusted force, improvements new In quarter we XX.X% due and just the life. of growth down in of accelerated. The invested net We're CV, and the in gained year. sales business. and as of value in tax and faster interest due These same the for both in sorts to management of in of $XX was productivity. income in sales almost in million, our we largely of flat expenses than down CV incremental the expenses. from selling $XX And year. increasing to from to In about in Similarly the XXXX, work. we rate our integration expected for which year, investments some was $XX items in growth was productivity was and quarter. the believe from one beyond

was there a but are free XXXX. be to for a more items, and non-recurring in we basis. few full million, $XX XXXX was the than approximately for results, QX $XX For about is solid the increase cash CapEx In year. very planned year year, flow $XX adjusted divested operating QX, versus other EPS and $XX have items driven prior into CapEx which XXXX operating of flow $XX year working which for lower was QX, million million cash up was operations. last strong combined acquisition the operating on the The to million of. us, the payments year flow we've $X.XX, full all interest Free slipped and was expense cash integration excluding in capital. fourth million, compared cash million past discussed cash of and improvements was aware flow in $XXX XX% needs were quarter by

million of $XX Taking our year. ongoing would $XX occurred roughly number cash the cash a to XXXX included estimate XXXX been results cash million. flows We have closing. the free to a of strong those a million was have roughly collections, also prior the divested periods free figure an account, catch-up include adjustments there. during which flow $XXX into free of on XXXX First, should operations related flow impact reported XXXX. The

debt Our XXst December balance was $X.X about billion.

is fixed now XX% debt Our rate.

We – of is fourth our on stock. EBITDA gross stock leverage some our capacity leverage a advantage ratio now EBITDA. of times. repurchasing quarter, $XXX gross for in the the can up of of Adjusted X.X decline in take our is price reported the the X.Xx Our million divestitures, basis about

Our programs. capital balance cash remains flexibility capital and our our deploy to allocation M&A, shareholders and We through the our flow on returning free strategy sheet value same. enhancing buyback strategic

$XXX our share repurchase We have over remaining on authorization. million

a outlook evaluate we completed fourth XXXX. business. use we again the divestitures with non-GAAP the quarter, for to of provided the to financials Turning in the Having you set

to We basis. incremental this an on share information expect ongoing

the what how details, are guidance operationalizing context into have Gene I you how we morning. approached XXXX to give wanted this and and discussed the Before jumping I we our

our contract Research XXXX bulk growth drives revenues. ending of our corresponding First, rate XXXX and value the

As CV QX revenue impact in headwind line. total has but over our I’d growth that does note caused growth by the there current the to year slight muted course on more a revenue grows is a also the revenue, impact and rates research retirements. product it of positively year QX and

are Second, and metrics guidance. that advance consulting Consulting backlog bookings drive the and our Conference revenue

XX% strong in Consulting As up mentioned had we and business, Conference backlog during XXXX. advanced is bookings year-over-year our and our earlier, very

to and investing, Third, surge a will of drive the our growth to XXXX we rate. support continue be future in closer invest After typical run to our business.

territory record growth our XX% maintaining low territory open GBS. Our to cost GTS, in of XX% and XXXX plan for XX% territories, roughly level for while growth

up growth productivity. we teams in curve GBS, have We strong achieved The in distractions. with already have on focus where decided in to areas moderate getting territory growth all of is the GBS further lending can predominantly fewer that our the we sales so

reflects causing And two The we in rate roughly again to projected We enabling course cash to over strengthened guidance free XXXX lastly, XXXX guidance the highlights invest and revenue EBITDA, point FX in our revenues, grow functions, plan follows. a adjusted XXXX, them full flows. continue at but in recent as year our growth rates. slower dollar negative and adjusted XXXX. infrastructure FX rates our EPS to of across was The impacts are of our

of to growth XX% expect billion, approximately XX%. We $X.X to revenues those billion adjusted of FX-neutral $X.X

CEB we addition that the course viewed some In there businesses divested XXXX, over to as that were products additional the from the non-core. non-core acquisition of we

points. basis growth our revenue impacting XXXX We by have XX these, retired which total about is

adjusted to million, million We XX%. EBITDA X% of growth expect FX-neutral $XXX to $XXX of

that around the tax for We tax about for note affect the of income, adjusted from backs on add are back adding was the expect XX.X% XX.X%. you net XXXX. an GAAP Please if rate rate

share, We expect to per growth of approximately between EPS X% and $X.XX $X.XX adjusted of XXXX XX%. FX-neutral

our is For guidance value to free flow growth flow. cash have $XXX to Investor Relations million. cash on $XXX of rates. important normalized XX% at our contract current site. we expect we our of is our That the are year details XXXX included revalued It of XXXX, also million free FX to XX% of that projected off note All FX-neutral

earnings FX Our billion the rates, contract are is of $X.X Details the in value included and XXXX ending XXXX million supplement. at for appendix $XXX GBS. for GTS

seasonality that to guidance, for basis. I'd on like additional the an will understanding Lastly provide some our of earnings and to allow a other revenue and information factors impact quarterly on

XXXX a full impact expect as revenue roughly stronger of our a to adjusted with consistent pronounced will the phasing XXXX, by QX, also most This retirements. normal year, percent a quarter XXXX. is little than we phasing the be product lighter from For the be than XXXX. impacted quarterly QX of with revenue

lower For quarter is and depreciation the XXXX, EPS between slightly exchange. impacted and higher revenues, of expect by adjusted QX EPS $X.XX foreign of first we $X.XX. proportion of

XXXX quarter. value of of scale. strong continue XX% of and the GTS across Notably Our segments the performance year over and to our contract GBS strong in operating new fourth growth sales the financial GXL and our all course our accelerated of operating products continued

Consulting businesses both year. flow Free had the cash years. significantly and Conferences improved Our strong in

the identified We those executing repurchase we've resumed And stock program The XXXX over our buying of trends in $X reducing our strong XXXX. to assets balance delever, all and the into XXXX. our billion rapidly $XXX have teams by million non-core share proceeds plan. debt our are in used and are divested going

to sustained the and free revenues, the the operator formula flow. applying combined turn the long-term to over questions. to that, and are we'll I'll happy call take be Gartner double-digit across Operator? business We growth growth to back cash your drive EBITDA With

Operator

from William Tim Blair. question Thank McHugh Your first [Operator you. Instructions] comes with

open. is line Your

Timothy McHugh

Thank you.

on guess Just, and sales a the set GBS, of comments why broadly people. new is made, happening in the there change guess, lot terms of product understand I you is I I

or the we expectations, to the performance But take time. investors' like thought. least it's than my weaker and fourth have so And longer the is quarter it's it I in think expectations to at certainly going a relative taking or probably seems little harder would

expectations So before? compare said your to how you it does it What's taking longer would or than and what is if as different have harder?

Gene Hall

sales focus needed it's products, we how introduce growth has on we, sustained double-digit Hey, as remarks, to a my we I trend I wouldn't needed quickly in sales possible. Gene. Tim, to as Basically curve. that become we do been And new get maybe our to do learning it mentioned products, way. those that to as characterize force

some that half them products the their till talked of midyear the of them allow XXXX. new legacy pipeline in we of the We products. keep we first trained in the there to As past, XXXX, in

up at the have couldn’t exclusively legacy finish fell at the we wasn’t people learning the to We XXXX the both that and Craig of that the learning the well their until year. And people during wasn’t products And We a fast very that for so will less pipeline they first them if curve naturally, you in talked knew half chance as something products liking what selling what’s last during to I of happen. really wasn’t beginning problems, on new sell in XXXX, that going new off and get of half and we for be make-up that enough the of XXXX, of mentioned, acceleration the didn’t know then second curve, to we XXXX. about year second fast in happened the falloff. to did that and of is, the look There -- so those quarters purposely. didn’t the end wasn’t start basically on strategy it they purposely exact training half that the the

Timothy McHugh

in growing of you’re ago, of pace you growth three following said The six the guess, that. what have I maybe than That’s change, different up I terms to on guess, I months guess. the sales at. force

are the what same guess, -- you at to I makes decided seeing growing So says GBS rate? that stop you

Gene Hall

great -- us grew set to for very XXXX. the XXXX GBS quickly we So during

to XXXX. We’re at good pretty planning double-digit grow during still rate

we think we’ve stronger return -- do, expectations, XXXX and sales start want But see see as as XX% that a investment, I we when during that as down with our on And we return range at full as or meeting As I always its up going to we’ll we done sales not on we see always see we’re productivity back flex force, XXXX GTS, investment. XXXX. can into force up to growth in much think the going as that or look of in ramping up well.

Craig Safian

XXXX. I’d Good still will, growth roll XXXX, to as as Craig. you is Tim, have mentioned, it’s moderating measures projecting we one But less rapid have us one It if for the many XX% it The And we management moderated just by thing I territory morning. is, pretty into XX% growth which growth. to GBS add still was allows rate. -- challenge,

they will sales number think progress more other GXL as all about or and well. XX% tenure in favor XXXX, new XXXX. in a and our got mentioned, more have We’ve in business XXXX have as Gene working So the as They on great than I of more people. got had both we things we’ve tenure sales

we that growth And all so, again, have in mind XXXX. pivot we as as we moderated into the

Operator

you. Thank

Barclays. comes next question Patnaik Your from with Manav

Your line open. is

Manav Patnaik

just you on clients the though maybe and for loosing mean, legacy guess, those business so to again, in forth. I on who sell GBS going are wanted guys it I business, that so So and still I

bridge fast? clients? a And can bit is hit So losing me color why getting that why legacy help just just you little you’re more on so quickly

Gene Hall

strategy have renew as allow want be among were will rates were renew. legacy than we product, them products for they products. they a when clients our clear that renewal CEB And our there, to as on are So higher just legacy they the to long already to slightly

they're of GBS. up become actually going riddled they so since And to product a

going who we're it. to keep So renewing, product, that want they like to clients keep can let who renewing

to the more they provide still exceeding For higher value just retention. where only new selling selling on GXL clients, because have and products GXL -- clients we're products we

And have who so better they’re that want the long value. for business term. the value clients benefits the again, over it the and economics of the And clients

Manav Patnaik

of would your like things least that model given just haven’t everyone’s the played last you guess, and quarters sounds visibility, expected. I about I And the subscription at it on suppose, one we of in I terms liked out GBS over so things mean, Gartner few But is as side the have forth have the visibility.

if I'm in improvements with get X% what learning I ask is, guess X% you this I said how no you And I you'd correctly, think, So you to I really? to further year. trying just heard confident even that was guys are

Gene Hall

you are why double-digit By the driving growth. guess, said way, I So, I'd of we But some did and growth we that's time, both not, if productivity math what improve in if purely of not are our retention. that our productivity and just shows aiming math I've from about there. retention they we pure say certainly getting of for 'XX, that’s by improve to And improve. meaning table is, kind of quite if take it just the does to of pure math end not are does get the X% we're pretty, where it, the that that you gets terms the

Operator

Thank you.

Your Bank America. next Gary question comes with Bisbee from of

is Your open. line

Gary Bisbee

it products, base questioning the this relates guess, it And as when business push I line Eugene, that the – in appear, at transition fast think to or the doesn't just can much when back move the that too compare you following you numbers sort hard that state look after we this change the number in CEB then, it? was you specifically, to others. years pushed Gartner change that Do a of tell the the acquired when When on of And newer maybe, looking of to now? was to from through. did that’s how impact but there joining given from how you ago? you that numbers – seat that you've the

provides that you're the you. happened confidence the or that us today? that and just understand frames how so past Thank seeing in how And what help

Gene Hall

So that’s Gary, time. long back going a

of and accelerated tools, the the have So Formula, that. stick started we When Gartner back we we today. in recruiting, then, all that briefly didn't we didn't training, very have I'll just capabilities process we terms to first have

so time period. longer a place that And acceleration much over took

talked we plan for have we're the -- to last year and We've year is plan our As half products. the about really sell products. let and we all how first legacy during the hasn't developed according acquisition, We which them we the company. acquired new proceeding changed, the CEB

what the As stopped what have would they'll we products, them That's up. new have we to then expected. according on them we going ramp train

purposely better ago. than And so have we because and to decide recruiting, training, faster had tools processes we go we’ve years XX

Gary Bisbee

the And follow-up, Craig. then, just maybe for

capital when So of it's the there the in year, guidance CV or for half working I back the the me imply. not the flow look cash benefit is would clear acceleration to the of that year at free normally GBS that

least the about of can free we there an do that exit us you help accelerating we of you are CV at business, in that rate successful understand flow as into -- different the year anything is next just cash so you And the if profile exit meaningfully should this over see today? as think as or Thank conversion cash improved segment? you. think and still year We --

Craig Safian

Good morning, No. Gary.

having just in strong And that growth fueled that the XXXX of base. growth metrics XXXX of way more we I then than year XXXX our great cash the free have about little which we of XX% CV bulk GTS made was a progress business, accelerating the and cash accelerated rate year, collection year again flow, course by free very think and of some up that represents the as flow and the catching to for us the the with, illustrated very on challenges flow total think, cash good I the of first, exited strong free the really think the was year. over a

As we pivot from GTS. working we rate that XXXX, into growth very and that benefit great from conversion strong getting capital still we’re expect

I think your correct that. hypothesis in is

then capital over that the balance where GBS the get As upfront advantage to of business, we delivering we billing growth contract. the we’re working and more of a the to are of business, the benefits accelerate inherent recognizing revenue subscription take all structurally and just

get So by virtue should as improve working metrics end benefit growth XXXX, capital as double-digit that’s a of towards and as the we’re the of that better targeting, well. see the we what will rate look that we conversion

Operator

Thank you.

Kaplan Your next question comes Morgan Toni Stanley. with from

open. is Your line

Toni Kaplan

given the role more reluctant macro any environment to or of maybe play Thanks. of quarter perhaps part some Did this in sort GBS just their slowdown subscriptions, caution? the customers the of volatility,

Craig Safian

Yes.

So the answer is no.

very If is our at business, you look strong. QX

we great had look you growth at If GTS, there.

look you there. If Conferences, at we had great growth

our -- look at and XX%, us. you very the bookings, Consulting backlog was is primarily which it If strong up for

will going that the wasn’t is GBS. so products. decline where legacy yet for around to up point on that’s was in the made whole turn what simple, in And That the story XXXX. in the the of in GBS the products it ramp-up And actually GXL pretty is which

Toni Kaplan

people GBS higher and expand should said you. actually ramp-up. the once margins it year know, your a constant? not contraction. see historically at to productivity we adjusted more then, sales afterwards GBS levels. peak in XX I could margin over little be are productivity of EBITDA How to you’re pretty This level? XXXX we investment guidance productivity people the think midpoint -- sort Thank keep I of At you’ve about some margins you like an wanted at guess, place, -- start sense. and point, could basis the quite for sales points of That makes as -- And

Gene Hall

Good morning, Toni.

managed managing the we’re with way past. about business in how very thinking consistent we’ve is the So

on in We’re rate has flowing typically great gross the margins. such obviously gross margin top-line leverage doing structural some growth because We accelerating focused through. get so, do Research

in both had at XXXX. in quarter continue As we revenue manage remarks, talked G&A to my about to growth. leverage full-year in than and We'll rate our I the grow prepared gross slightly a margin basis on fourth lower a in the

XXXX, well. in expect getting getting and 'XX sales. and investments the talked prior I that get those in of the there that 'XX XXXX, beyond goal leverage investments. are And conference across in the investing the CV that accelerating with invest GBS, investment sales. invested growth XXXX we're and With I we'll we And end XXXX And in in of to think, investments kind from -- by about beyond mentioned and I mentioned there. board. continue in in double-digit as there's 'XX, or then from operating continuing we to we're I GTS. And our so invested we returns have of

see just the point a So end even double-digit not us. stopping for growth. It's way to on our faster is game

of business selling some to of happens, will sure get a we're way top-line. And But rate again, we'll forward in to leverage, G&A bit that to the that fuel growth a gross is about line. that we As on is that continue managing sales margin there little think leverage. GBS that investing leverage bit make appropriately sustained the going little we double-digit

Operator

Thank you.

Your next question comes from George Tong with Sachs. Goldman

Your line is open.

George Tong

the phase your do targets? value contract of expect you Given Or your for we course over that progress with factors over year? the legacy growth next ramp Should the several discuss growth GXL to could see towards of you GBS, evolve out and you your GBS can specifically? how lumpiness initiative steady quarters cause in relatively to products expect

Craig Safian

bit of of sales. is timing to new morning's, products, good phase-out George, the the way to related legacy Craig. little it's it The think business a the about

QX, full sales a then out where And have still was and the in we QX, QX GXL legacy and continue Gene in the there little bit to sales ramp. to on new as discussed, happening, QX. slowly new so GXL products that phasing relevant And starting business diminish business in

really growth the in is providing we so the long We're game CV GXL way playing of see guidance benefits on we the it And kind around ramp -- specific basis. the think the QX. not quarterly and about to We're a of QX here. start

continue But really game the play to on is the about of just the timing to one. way it think long that XXXX. to the We phase-out related from

George Tong

to business. And research how changes budgets? IT in changing overall to GTS your existing spending switching the spending potentially IT discuss And gears expect you how alter among are clients you Can there? intentions

Craig Safian

Yes.

dramatically global countries around things specific you specific or the world. as we're We're And doing in either or know, the can the vary which be company. you're XXX So, in industries well within companies country in. depending And a on distress. even countries

I macro a like sort don't even a down see at that. change so, slow of it's guess, level And I total any or just keep globally. giant like

look and you those seeing. we see a terms individual big of don’t change takes. sort companies, or see we’re individual industries But in of you there at puts If – a global macro what markets in of

Operator

Thank you.

Your comes next Warmington question from Wells with Bill Fargo.

open. is line Your

Bill Warmington

of side CV a GBS -- X% attrition the you no on XX. the in upper bridge quarter -- I improvement Page the was hoping growth. So, on no the left have X.X% the growth help -- I fourth chart the on could productivity, quadrant improvement to question just me contract in

Craig Safian

Good It’s Bill. morning, Craig. to do happy that. Yes,

XX, business expression of salesperson. so, just clear. When an XXX% business dollars the a on -- we’re is look for So new we productivity Page new

we the new salesperson. expect business it’s business, new again, of base amount it we dollar productivity, the on using methodology we period overall of And same for the not use it’s So beginning headcount. the for

sales we about new XX% XXXX an person we individual. for XXXX. remarks, business productivity XXXX $XXX,XXX to was more a for little And than so, Jan compared We prepared talked in with X, achieved Jan as people the X, XXXX during more my on entered

business if new people on you having business gets and GXL XX% in roughly of you -- about around talked number. If the calculated will business that then the X%. If million attrition a average us use denominator, of roughly the that you that person gives again, we to you getting based new of NCVI numerator, gross apply the products CV non-GXL our around attrition, then we our times new of from per The extrapolate number number. XX%. weighted NCVI. of the attrition CV And apply flat, of And base, the balance the gets you that $XXX is that having

Bill Warmington

into kind wanted your of continuing of gross that built assumptions for -- ads in are ask the One on the what at my thoughts headcount of level? turnover Okay. to pace and follow-up and guidance assumptions hiring XXXX the terms at about GBS, I question,

Craig Safian

we the sales Bill, force thinking net XX% XXXX, GBS XX% about the is in grew we’re XXXX. way in

We’re growth targeting in XX% headcount XXXX. XX% to

assumptions through are turnover turnover of just pretty turnover detailed and actually went about -- GBS review and this. the Our we GTS same.

over say of again, it as productivity. And well. continue have into the we’re We’re weighting way XXXX. to strong expecting to typically areas I XX% already growth growth would And mentioned, business we we the in as in manage again net expecting that’s that GTS our are that XX%. Gene that

grow X so, absorb business actually percent. And didn’t to out hey, set And with and We could a out profitably plan way. analyze the we the went productively at – where headcount detailed growth and we level, and need growth. figured the easily built we we that

we're So that's GBS way headcount thinking XXXX. growth the about in

Operator

you. Thank

Capital question Jeff next Silber Markets. from with comes Your BMO

open. is line Your

Jeff Silber

do on like added looks at correctly, you Just a sales growth, people follow-up about I that your in I math XXXX. net XXX force If look question. it the net

for period. people? attract That's you X-year pay people 'XX. to about over targeting so to these Are people just having XXX you having or X,XXX finding difficulty more a sales them? entry You're Are a

Gene Hall

place market. kind to is -- normal pay the aren't of inflation a is attractive than answer short the wage work. more no, very Gartner to each them in So we having Basically the

it, And have a team. really, so on really brand out, to go whenever going strong And a be recruiting and a we have brand. top great we of our we’re recruiters great

of we've exceeded So expectations. between great teams, and recruiting in combination fact, brand our great actually, the our our

year, recruiting and have has the territories As brand originally we been recruiting strong fewer had so mentioned hold of we open last because capabilities. I thought, than because

Craig Safian

sales gross and a hiring recruiting cetera. The we're the numbers et other recruiting we're world, -- recruiting thing those is, just recruiting GBS. you're specifically when about people, we're people perspective, experienced talking you're right around to talking, out But reinforce we're there of university the from Jeff

any diverse we're very going one wise. a recruiting like It's that not city geography we're it's reliant after. country So pool on

an brand as And strength the and double employer, comment attractiveness And well. our the recruiting about, so the as that reinforce again, for particularly the made of minimizes I the Gartner Gene people of risk sales organization.

Jeff Silber

question, product. I GXL my on wanted up the to And follow focus

two comparing legacy retention GXL about for or difference the You in higher is -- to that those between pricing product products. Can your is there product talk any lines? mentioned you margins when

Craig Safian

GXL simplicity consistency. way the thought about big and fans we very So pricing, the we're of

to price that us. value margin products price set are we the side. And GXL consistent good the on those for products when sure gross their the priced sister getting We GTX consistently deliver make so products very to very appropriate to we're gross And up are margins.

the beauty constructive better is I one opportunity when think number in of penetrate about real GXL serves we directly, the further just from us individual there. think also organizations but it's to product, we once it a perspective, growth the of get it it a allows needs

our product whereas then, the to enterprises, and side leadership did in allows organization, do one an GTX done the over side, seen us time, you’ve council portfolio. supply those is, that what And grow us not. with we we'll actually on will the get as on seats well do in legacy so marketing we've footprint GXL that to chain And and with in one

Operator

Thank you.

from comes with question next Appert Your Peter Jaffray. Piper the

is line Your open.

Peter Appert

upon got like an It performance. slower anticipating seems the -- following of a extent, ‘XX, in disconnect there's of growth the margins. you've force issue, terms lower just contract you’re Craig, margin sales in better to a of volume bit expectation

I what am here? missing So

Craig Safian

You know lags. revenue the – course deliver of of corresponding over XXXX, growth the obviously, the all we the CV

build we the the revenue flows of then CGI, bulk upside And over CV course -- XXXX. of the XXXX, as that into so and

sales what's sure And and which onboard. us the there's they're is us as as thing going long so to that's pay with as onboard down we're we're people long is And they're margin. one as or the that expense dragging of is

will So of we're end off XX% year, growth force until by meet where CV growing -- the XXXX, not XX%, impact. double will but which coming convert the if into we're GBS digit build think we That to still of a going the about margin only revenue sales grew the you XX% we're double-digit corresponding to growth, XXXX.

in with XXXX XXXX in So the an beyond. it's really investment and payback

Peter Appert

we're the would this sort is and guess context forward earlier, your steady going of the expanding to going on in as base ‘XX Toni see level margins then forward? state just should rate asked of the the about going expectation I of that with then follow-up, think Craig And be sort in we as

Craig Safian

a question Peter. point. good beyond response. not in articulated Yes, we're Toni or upcoming think, XXXX But a to our investor her And we We’ll like as it’s outlook in and providing our this question, it articulate margin guidance margin at Day. Investor about in definitely as talk attempted interactions I

sales, the all future, improve the As way rate business we And margin. line, but things continue leverage, about strong that we’re managing we and again GBS, bit again, invest bit as of that top the we is, future. sustain growth double-digit little margin the so going leverage gross the the will G&A we’re to in growth equal, to a our of rates think can help a accelerate into of -- little

Operator

Thank you.

Mazari comes with Macquarie. question next Hamzah Your from

is open. Your line

Mario Cortellacci

Hi, is Hamza. for in filling Mario this Cortellacci,

guess, the do you to being in sense now that you organic the I asked perform a discretionary is GTS view in is, and more business you Or growth segment? that even is us Just CEB GBS? of give a how given slowdown a than in expect wondering way can maybe different portfolio if

Gene Hall

view really very we our issues. have environments are true we help the we clients is that both being than companies are when well, we’ll people issues, value. products time, well when business are doing it’s with they we and doing control-oriented provide point And doing affordable more discretionary any doing high very in have, don’t we given or people is growth-oriented cost do help like and in whether are very well at companies that them IT its GTS So And poorly, and them their poorly. Basically, HR, the because an this segment. finance,

remain in GTS. so both And same we we environments. the GTS, can them in do of place We shown in well exact

Mario Cortellacci

know XX% give GBS. your metrics. know, I want from to I get perspective. you I there can region? variation productivity And about is to guess, are you’ve I for you see of GBS's see there from And to what’s regional if questions those sales timeframe GTS? growth -- XX% to already a -- are if a just want territory to productivity sense guys region And growing GTS, I those also any closer metrics us

Craig Safian

Good morning. so The It's Craig. second the first. question I'll take –

So on productivity. we've focused by been about been sales there. productivity. GTS, And continuing the means or improving measures, And we book to no that. We're focused productivity consistently think drive doing sales as we've the corresponding we done in overall GTS obviously, improvements to on

If focused the from would and GBS I'm we're that the Matt, we get close on there pretty side. perspective, the that or and think be XXXK we're to XXK, is speaking, sizable focused second going I be the just improving productivity to path improve and the growth. back We're about GTS XX of a delivering that to double-digit going to digit remain still of what were $XX,XXX that on overtime. between gap again overtime. on double be executive, And sure productivity talked NCVI you into then team to to around on to that close here productivity to right, continuing the per And roughly productivity extrapolate productivity mean accounting and XXXX average make view to GTS

there long the value and improving And the to both that levels. and if obviously, term, GBS, continue contract no will they be Over why our growth reason same we're overall accelerate. around doing is GTS can't

to differences, terms neighborhood. relatively on the to I we of those diverse of background. enterprises million have small very that different largest obviously, And pretty revenue around sell in that think, companies types $XXX the we're that have force calls organization, In different in world, or people regional the manage a recruiting down in sales to that the

university, right mentioned, XX of of company, they experience. of years are largest as XX years have the of So X industry out I plus might to experience, them, them come to some for with some of us

it that sort set channel for look look regardless at We we’re at it are type than consistently there at we're type structure it around cost. calling making account it level that of those – of what productivity regionally. to. We us of we're And productivity We sure do look we're more for The again, and key at we're sorts is differentiation And look improvements We that do metrics. we as that to all up look looking do of by so selling that company driving by compared on. at, for important measures is is tenure. pronounced at of opportunity or it of maximizing regionally. the productivity the probably world, we've type got the overtime. the We

Operator

Thank you.

Joseph comes question from Fitzgerald. next Your with Foresi Cantor

line Your is open.

Joseph Foresi

CEB? I the So customers but products And get different themselves. you do in CEB order pricing products legacy -- have about exactly the know on to was them, model wondering talked around I GXL to GXL? than are cancel how the

Gene Hall

Gene. Hey, it's

any the more did. the product GXL technology They specific we've And as them top content put and more of products on So -- well. in legacy that the in substantially relevant both have function of like than have content whatever is products content taken HR. it

is a first is thing than there content -- in So there lot product. the the product GXL is more legacy

actual The you like Events inquiries and package higher stuff, included second is to the that, things also what's value that piece can analyst of you go things than in -- a get. like and what is terms

also a more And And a So see part higher. There's other itself products the being rates the GXL lot secondly, better. higher things products. of the content with a are combination why that's is you content. basically it's lot the the of retention are that lot a

Joseph Foresi

And understand after to to then, the I just with sounds my like the since to forward like and ramped changes it was target? double Why divested given why now, more outperform guess I'm think you sales lot all growth? you going the it? of direction, math pushes digit target I kind things. give Why a you the has I changed yourself second hope of the lower of hold closure question. pulled you're that kind in not that post acquisition. curious. the just you force, but products. closure, an of opportunity that investments, then, that But And the

Gene Hall

So focused in operational we've the market on of take opportunity have GBS. we advantage changes been to this enormous

now very started GSL for transition like, high how value the roles, example, value, we sales, the going -- we get quickly so we’ll major introduce as markets, We've do lower value And we’ve we introduced get the products. and And legal, there because the others for want to they're actually from to higher could. HR, forward. as them finance, from all products the legacy

an a outcome the as double-digit And opposed of objective. specific more so is to

people across So the times, to as double-digit. we other to And going ramp-up sort opposed Craig several -- the we exploration about we of I’ve higher well to want way just just This the as XX.X%. around. the are know said, based and both legacy on is to taken. to follow-up what the expect -- double-digit as be products, than strategy our outcome in how range, way, line we of the by said getting is kind finish said, struggling not and We we've

Operator

over Mr. Thank question-and-answer remarks. session. the back Gene like call for closing you. I'd to concludes to turn Hall, And this our

Gene Hall

strong year. XXXX summary, So in a was

execution innovation, establishing core sustained business and every made strong. on progress We while role leading support We leading to are making world-class across growth continue positions of to in the the indicators across our operational have market enterprise. double-digit strategy investments

with learning XXXX sales entered we curve. larger experienced GBS, productivity For or a more XX% force further and

We quarter. with to their while our clients year GXL great delivered of priorities, of tested programs. retention around higher next path full updating us GPS have mix to retention and for I today of provided returns the look a for which our growth. double-digit again you world joining products, mission year We great have our another and forward the and Thanks critical for market-beating our That's associates jobs shareholders. assisted

Operator

Ladies today's conclude conference. you in day. wonderful a does you may have disconnect. This for And thank and Everyone the gentlemen, all participating program.

Gartner (IT) 5 Feb 192018 Q4 Earnings call transcript