Constellation Software Inc. reported strong financial growth for the second quarter of 2024. The company’s revenue increased by 21% to $2,468 million compared to $2,039 million in Q2 2023.
Net income attributable to common shareholders rose 71% to $177 million, or $8.35 per diluted share, from $103 million, or $4.88 per diluted share, in the same quarter last year. Constellation completed several acquisitions with a total consideration of $624 million, including deferred payments valued at $173 million. Cash flows from operations grew 116% to $265 million, up from $123 million in Q2 2023.
Free cash flow available to shareholders (FCFA2S) increased to $182 million from $14 million in the previous year’s second quarter.
constellation reports strong financial growth
For the first half of 2024, Constellation’s revenue was $4,822 million, a 22% increase compared to $3,958 million in the same period of 2023.
Net income attributable to common shareholders for the six-month period was $282 million, or $13.31 per diluted share, compared to $198 million, or $9.32 per diluted share, in the first half of 2023. Cash flows from operations for the first six months increased 33% to $1,002 million, while FCFA2S grew 34% to $628 million. The company declared a quarterly dividend of $1.00 per share, payable on October 10, 2024, to all common shareholders of record as of September 20, 2024.
Constellation Software Inc. acquires, manages, and builds vertical market software businesses. Its strong performance in Q2 2024 was driven by acquisitions and organic growth, contributing to a positive financial outlook for the remainder of the year.
