By Joe Hoppe
Wolters Kluwer NV said Wednesday that its first-quarter revenue and adjusted operating margin rose, and backed its full-year guidance.
The Dutch provider of professional information services said that revenue for the first three months of the year rose 8% on a constant currency basis and 8% annually. Recurring revenue grew 8% organically, while non-recurring revenue rose 9% organically.
Wolters Kluwer said its adjusted operating profit margin for the period increased, with a strong operational gearing more than making up for increased personnel expenses related to recent hires.
The company backed its 2022 guidance of an adjusted operating profit margin of 25.5%-26.0%, up from 25.3% at the end of 2021. Diluted adjusted earnings per share is expected to see mid-single-digit growth, from 3.38 euros ($3.56) in 2021.
“While we face more challenging revenue comparables in the remainder of the year, we are confident in reaffirming our overall guidance for 2022,” Chief Executive and Chairwoman Nancy McKinstry said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
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