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CoreLogic, Inc. delivered impressive first-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the better-than-expected results failed to impress the market as there has not been any major price change since the earnings release on May 7.
Adjusted earnings (excluding 49 cents from non-recurring items) of $1.20 per share beat the consensus mark by 23.7% and surged 57.9% on a year-over-year basis. Operating leverage, favourable business mix and expansion of productivity fuel contributed to the bottom line.
Revenues of $422.8 million also surpassed the consensus mark by 3.1%, but declined 4.8% on a year-over-year basis.
Shares of CoreLogic have surged 79.4% in the past year compared with 58.6% rise of the industry it belongs to.
Other Quarterly Numbers
Underwriting & Workflow Solutions revenues increased 28%. Property Intelligence & Risk Management Solutions’ segment organic growth was registered at 8%.
Adjusted EBITDA of $160 million surged 39% year over year. Adjusted EBITDA margin of 38% expanded 530 basis points (bps).
The company exited the first quarter with cash and cash equivalents of $227.1 million compared with $167.4 million recorded at the end of the prior quarter.
Long-term debt (net of current) was $1.76 billion at the end of the quarter. The company generated $189.3 million of cash in total from operating activities and CapEx was $12.4 million. During the quarter, it paid out $24.14 million in dividends.
CoreLogic currently carries a Zacks Rank #2 (Buy).
Equifax’s (EFX - Free Report) first-quarter 2021 adjusted earnings of $1.97 per share beat the Zacks Consensus Estimate by 29.6% and increased on a year-over-year basis. Revenues of $1.21 billion outpaced the consensus mark by 7.9% and rose 26.6% year over year on a reported basis as well as on a local-currency basis.
Robert Half’s (RHI - Free Report) first-quarter 2021 earnings of 98 cents per share beat the consensus mark by 22.5% and rallied 24.1% year over year. Revenues of $1.4 billion surpassed the consensus mark by 3.3%, but declined 7.2% year over year on a reported basis and 7.6% on an adjusted basis.
Omnicom’s (OMC - Free Report) first-quarter 2021 adjusted earnings of $1.33 per share beat the consensus mark by 16.7% and increased 11.8% year over year. Total revenues of $3.4 billion surpassed the consensus estimate by 3.6% and increased marginally year over year.
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Image: Bigstock
CoreLogic (CLGX) Q1 Earnings Beat Estimates, Increase Y/Y
CoreLogic, Inc. delivered impressive first-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the better-than-expected results failed to impress the market as there has not been any major price change since the earnings release on May 7.
Adjusted earnings (excluding 49 cents from non-recurring items) of $1.20 per share beat the consensus mark by 23.7% and surged 57.9% on a year-over-year basis. Operating leverage, favourable business mix and expansion of productivity fuel contributed to the bottom line.
Revenues of $422.8 million also surpassed the consensus mark by 3.1%, but declined 4.8% on a year-over-year basis.
Shares of CoreLogic have surged 79.4% in the past year compared with 58.6% rise of the industry it belongs to.
Other Quarterly Numbers
Underwriting & Workflow Solutions revenues increased 28%. Property Intelligence & Risk Management Solutions’ segment organic growth was registered at 8%.
Adjusted EBITDA of $160 million surged 39% year over year. Adjusted EBITDA margin of 38% expanded 530 basis points (bps).
CoreLogic, Inc. Price, Consensus and EPS Surprise
CoreLogic, Inc. price-consensus-eps-surprise-chart | CoreLogic, Inc. Quote
Balance Sheet
The company exited the first quarter with cash and cash equivalents of $227.1 million compared with $167.4 million recorded at the end of the prior quarter.
Long-term debt (net of current) was $1.76 billion at the end of the quarter. The company generated $189.3 million of cash in total from operating activities and CapEx was $12.4 million. During the quarter, it paid out $24.14 million in dividends.
CoreLogic currently carries a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Business Services Companies
Equifax’s (EFX - Free Report) first-quarter 2021 adjusted earnings of $1.97 per share beat the Zacks Consensus Estimate by 29.6% and increased on a year-over-year basis. Revenues of $1.21 billion outpaced the consensus mark by 7.9% and rose 26.6% year over year on a reported basis as well as on a local-currency basis.
Robert Half’s (RHI - Free Report) first-quarter 2021 earnings of 98 cents per share beat the consensus mark by 22.5% and rallied 24.1% year over year. Revenues of $1.4 billion surpassed the consensus mark by 3.3%, but declined 7.2% year over year on a reported basis and 7.6% on an adjusted basis.
Omnicom’s (OMC - Free Report) first-quarter 2021 adjusted earnings of $1.33 per share beat the consensus mark by 16.7% and increased 11.8% year over year. Total revenues of $3.4 billion surpassed the consensus estimate by 3.6% and increased marginally year over year.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>