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CoreLogic (CLGX) Q4 Earnings Beat Estimates, Stock Falls 2.2%

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Zacks Equity Research
·3 min read
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CoreLogic, Inc. CLGX delivered impressive fourth-quarter 2020 results, with earnings and revenues beating the Zacks Consensus Estimate. However, better-than-expected results failed to impress the market as shares of CoreLogic dropped 2.2%, since the earnings release on Mar 1.

Adjusted earnings (excluding 30 cents from non-recurring items) of $1.51 per share beat the consensus mark by 2.7% and surged 96.1% on a year-over-year basis. Operating leverage, better business mix and cost productivity contributed to the bottom line.

Revenues of $467.6 million also surpassed the consensus mark by 11.8% and increased 9.7% on a year-over-year basis. The top line benefited from mega wins and pricing.

Other Quarterly Numbers

Underwriting & Workflow Solutions revenues increased 51%. Property Intelligence & Risk Management Solutions’ segment organic growth was registered at 7%.

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

Adjusted EBITDA of $203 million surged 69% year over year. Adjusted EBITDA margin of 43% expanded 930 basis points (bps).

Balance Sheet

The company exited the quarter with cash and cash equivalents of $167.4 million compared with $302.3 million recorded at the end of the prior quarter. Long-term debt was $1.8 billion at the end of the quarter. The company generated $116.6 million of cash from operating activities and CapEx was $1.7 million. During the quarter, it paid out $60 million in dividends.

Performance of Other Business Services Companies

Rollins’ ROL fourth-quarter 2020 adjusted earnings of 13 cents per share came ahead of the consensus estimate as well as the year-ago quarter’s figure by 18.2%. Revenues of $536.3 million beat the consensus mark by 1.7% and rose 6% year over year.

IHS Markit’s INFO fourth-quarter fiscal 2020 adjusted earnings per share of 72 cents beat the Zacks Consensus Estimate by 7.5% and increased 11% on a year-over-year basis. Total revenues came in at $1.11 billion, marginally missing the consensus mark and declining 1% from the year-ago quarter’s levels on a reported basis.

Automatic Data Processing’s ADP second-quarter fiscal 2021 adjusted earnings per share of $1.52 beat the consensus mark by 17.8% and were flat year over year. Total revenues of $3.69 billion beat the consensus mark by 3.2% and moved up 0.7% year over year.

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