We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CoreLogic (CLGX) Earnings and Revenues Beat Estimates in Q1
Read MoreHide Full Article
CoreLogic, Inc. reported better-than-expected first-quarter 2020 results.
Adjusted earnings of 76 cents per share beat the Zacks Consensus Estimate by 4% and surged 69% year over year. Revenue growth, operating leverage, better business mix and cost productivity benefited the bottom line.
Revenues of $444 million marginally beat the consensus estimate as well as increased 6% year over year. Revenues benefited from strength in the company’s core mortgage and insurance and spatial solutions.
In the quarter, the company witnessed coronavirus-related negative impact of around $6 million on volume and revenues, mainly in its consumer credit-related businesses.
Notably, shares of CoreLogic have gained 4.7%, over the past year, outperforming 1.7% growth of the industry it belongs to.
Other Quarterly Numbers
Underwriting & Workflow Solutions (“UWS”) revenues came in at $276 million, up 13% year over year. Property Intelligence & Risk Management Solutions ("PIRM") revenues of $173 million decreased 2% year over year.
Adjusted EBITDA of $130 million improved 33% year over year. Adjusted EBITDA margin was 29% expanded 600 basis points (bps). Operating income of $67 million soared more than 100% and operating margin advanced a whopping 1000 bps to 15%.
The company exited the March-end quarter with cash and cash equivalents of $152.8 million compared with the $105.2 million recorded at the end of prior quarter. Long-term debt was $1.6 billion at the end of the first quarter. The company generated $112.9 million of cash from operating activities and CapEx was $14.3 million. During the reported quarter, it repurchased 50,000 shares for $2.4 million and paid out $17.4 million in dividends.
Q2 Guidance
CoreLogic expects revenues of $420-$445 million, the mid-point ($432.5 million) of which lies below the Zacks Consensus Estimate of $440.6 million. Adjusted EBITDA is projected at $120-$135 million.
2020 Outlook
CoreLogic estimates revenues in the $1.69-$1.73 billion band. The Zacks Consensus Estimate is pegged at $1.71 billion. Adjusted EPS is anticipated in the range of $2.8-$3. The Zacks Consensus Estimate is pinned at $2.89.
Adjusted EBITDA is anticipated in the range of $500-$525 million. The company expects adjusted EBITDA margin to be 30%.
The Interpublic Group (IPG - Free Report) reported first-quarter 2020 adjusted earnings of 11 cents per share, which beat the consensus mark by 22.2% but remained flat year over year.
Equifax (EFX - Free Report) delivered first-quarter 2020 adjusted earnings of $1.40 per share, which outpaced the consensus mark by 8.5% and improved 16% on a year-over-year basis.
ManpowerGroup (MAN - Free Report) recorded first-quarter 2020 adjusted earnings of 71 cents per share, which missed the Zacks Consensus Estimate by 2.7% and slumped 48.9% year over year.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
CoreLogic (CLGX) Earnings and Revenues Beat Estimates in Q1
CoreLogic, Inc. reported better-than-expected first-quarter 2020 results.
Adjusted earnings of 76 cents per share beat the Zacks Consensus Estimate by 4% and surged 69% year over year. Revenue growth, operating leverage, better business mix and cost productivity benefited the bottom line.
Revenues of $444 million marginally beat the consensus estimate as well as increased 6% year over year. Revenues benefited from strength in the company’s core mortgage and insurance and spatial solutions.
In the quarter, the company witnessed coronavirus-related negative impact of around $6 million on volume and revenues, mainly in its consumer credit-related businesses.
Notably, shares of CoreLogic have gained 4.7%, over the past year, outperforming 1.7% growth of the industry it belongs to.
Other Quarterly Numbers
Underwriting & Workflow Solutions (“UWS”) revenues came in at $276 million, up 13% year over year. Property Intelligence & Risk Management Solutions ("PIRM") revenues of $173 million decreased 2% year over year.
Adjusted EBITDA of $130 million improved 33% year over year. Adjusted EBITDA margin was 29% expanded 600 basis points (bps). Operating income of $67 million soared more than 100% and operating margin advanced a whopping 1000 bps to 15%.
The company exited the March-end quarter with cash and cash equivalents of $152.8 million compared with the $105.2 million recorded at the end of prior quarter. Long-term debt was $1.6 billion at the end of the first quarter. The company generated $112.9 million of cash from operating activities and CapEx was $14.3 million. During the reported quarter, it repurchased 50,000 shares for $2.4 million and paid out $17.4 million in dividends.
Q2 Guidance
CoreLogic expects revenues of $420-$445 million, the mid-point ($432.5 million) of which lies below the Zacks Consensus Estimate of $440.6 million. Adjusted EBITDA is projected at $120-$135 million.
2020 Outlook
CoreLogic estimates revenues in the $1.69-$1.73 billion band. The Zacks Consensus Estimate is pegged at $1.71 billion. Adjusted EPS is anticipated in the range of $2.8-$3. The Zacks Consensus Estimate is pinned at $2.89.
Adjusted EBITDA is anticipated in the range of $500-$525 million. The company expects adjusted EBITDA margin to be 30%.
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
The Interpublic Group (IPG - Free Report) reported first-quarter 2020 adjusted earnings of 11 cents per share, which beat the consensus mark by 22.2% but remained flat year over year.
Equifax (EFX - Free Report) delivered first-quarter 2020 adjusted earnings of $1.40 per share, which outpaced the consensus mark by 8.5% and improved 16% on a year-over-year basis.
ManpowerGroup (MAN - Free Report) recorded first-quarter 2020 adjusted earnings of 71 cents per share, which missed the Zacks Consensus Estimate by 2.7% and slumped 48.9% year over year.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>