LendingTree beats by $0.23, reports revs in-line with EBITDA and variable marketing margin above guidance; guides Q3 revs in-line; reaffirms FY16 revs, raises EBITDA guidance :
- Reports Q2 (Jun) earnings of $0.92 per share, excluding non-recurring items, $0.23 better thanthe Capital IQ Consensus of $0.69; revenues rose 71.1% year/year to $94.3 mln vs the $95.14 mln Capital IQ Consensus.
- EBITDA $16.7 mln vs. $13.5-15.0 mln guidance; Variable Marketing margin $34 mln vs. $32-33.5 mln guidance.
- Total loan requests in the quarter grew to 3.6 million, up 84% over second quarter 2015. Record revenue from mortgage products of $56.0 million represents an increase of 51% over second quarter 2015. Mortgage originations nationwide grew 4% year over year, according to a survey of industry estimates.
- Co issues in-line guidance for Q3, sees Q3 revs of $96-99 mln vs. $98.00 mln Capital IQ Consensus Estimate. Variable Marketing Margin is anticipated to be in the range of $35.0 - $36.5 million, growing 44% - 50% over third quarter 2015. Adjusted EBITDA is anticipated to be in the range of $16.5 - $17.5 million, implying year-over-year growth of 50% - 59%.
- Co reaffirms guidance for FY16, sees FY16 revs of $380-390 mln vs. $387.57 mln Capital IQ Consensus Estimate. Variable Marketing Margin is now anticipated to be $137 - $139 million, or 44% - 46% over full-year 2015, due to improved margin outlook. This represents an increase from prior guidance of $134 - $137 million. Adjusted EBITDA is now anticipated to be in the range of $64 - $66 million, or 57% - 62% compared to full-year 2015, an increase from prior guidance of $62 - $65 million.
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