Clarivate Plc Stock Price, News & Analysis

Clarivate Plc (NYSE: CLVT) announced significant leadership changes as Jonathan Gear takes over as CEO following Jerre Stead's retirement. Stead will transition to a non-executive chair role, and Andrew Snyder has been appointed as the new chair of the board, effective after the October 20 board meeting. Snyder, who is the CEO of Cambridge Information Group, expressed his commitment to driving company growth and increasing shareholder value alongside Gear. Stead will be honored as Chairman Emeritus to continue providing his insights to the board.

Clarivate Plc (NYSE:CLVT; CLVT PR A) has declared a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares. This dividend is payable in cash on September 1, 2022, to shareholders who are on record by the close of business on August 15, 2022. The decision reflects the company's commitment to returning value to shareholders while maintaining its position as a leader in providing trusted information and insights to drive innovation.

Clarivate Plc reported strong financial results for Q2 2022, with revenues of $686.6 million, up 54% year-over-year. Organic revenue growth was 4.8%. The company recorded a net income of $43.7 million, a significant turnaround from a net loss of $131.5 million in the same quarter last year. Adjusted EBITDA rose 45.2% to $274.4 million, and adjusted net income increased by 50.1%. However, cash flow from operations declined by $97.1 million to $164.6 million, primarily due to seasonality and one-time payments. CEO Jerre Stead announced retirement plans, effective end of August.

Clarivate Plc (NYSE: CLVT) has been chosen by the National Library Board of Singapore (NLB) to provide library software solutions through its Innovative division. This contract includes the Polaris Integrated Library System and Vega Discover applications, designed to enhance the library experience for both staff and patrons. The initiative aligns with NLB's Libraries and Archives Blueprint 2025, aimed at modernizing library services. Executive Chairman Jerre Stead emphasized Clarivate's commitment to innovation and improving library automation and discovery standards.

On July 27, 2022, Clarivate Plc (NYSE:CLVT) released a new Global Research Report from the Institute for Scientific Information, emphasizing the necessity to escalate ocean science research in response to challenges like microplastics pollution and climate change. The report shows a threefold increase in ocean science research output from 2000 to 2020, highlighting critical trends and collaboration gaps. It notes rapid growth in microplastics research since 2015 and shifting dominance from the U.S. to Mainland China in ocean research output.

Clarivate Plc (NYSE: CLVT) announced that in the 2023 Journal Citation Reports (JCR), all journals in the Web of Science Core Collection will receive a Journal Impact Factor (JIF). This expansion includes nearly 9,000 journals, enhancing transparency for quality journals, especially from the Global South. The JIF will now show one decimal place to emphasize additional metrics. The change reflects Clarivate's ongoing commitment to integrity in scholarly research and will be effective from June 2023.

Clarivate Plc (NYSE: CLVT) has announced that its MarkMonitor division is now the first and only foreign-owned domain name registrar licensed in Mainland China. This new service allows businesses to register various Top Level Domains including .com, .cn, and .net. The Chinese e-commerce market is projected to reach US$3.3 trillion by 2025, highlighting significant growth potential. Chief Product Officer Gordon Samson emphasized the importance of secure domain management amid increasing cyber threats, aiming to bolster brand protection for organizations operating in this dynamic region.

Clarivate Plc (NYSE:CLVT) has released a new report titled Extending the Human Lifespan, exploring advancements in anti-aging science and the development of potential drugs. The report highlights a significant rise in the global population aged 65 and older, creating a demand for solutions to enhance both lifespan and quality of life. Key findings include 139 ongoing trials for seven existing drugs that might extend lifespan, raising $1.95 billion for aging-related companies since 2020. However, there are concerns regarding gender disparities in aging research.

Clarivate Plc (NYSE:CLVT) announced the retirement of Jerre Stead as CEO, effective September 1, 2022, after three years of leadership during which the company nearly tripled in size. Jonathan Gear has been appointed as CEO-elect, starting July 11, 2022, with a strong background in technology and data services, previously serving as CFO of IHS Markit. Mr. Stead will transition to Non-Executive Chair of the Board, emphasizing the confidence in Mr. Gear to lead the company forward. Clarivate aims to position itself as a leading provider of innovative solutions.