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CoreLogic (CLGX) Q1 Earnings Beat Estimates, Increase Y/Y

·3 min read

CoreLogic, Inc. CLGX 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 and EPS Surprise
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 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 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 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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