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Envestnet (ENV) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2 min read

For the quarter ended March 2023, Envestnet (ENV) reported revenue of $298.71 million, down 7.1% over the same period last year. EPS came in at $0.46, compared to $0.47 in the year-ago quarter.

The reported revenue represents a surprise of -0.76% over the Zacks Consensus Estimate of $300.98 million. With the consensus EPS estimate being $0.44, the EPS surprise was +4.55%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Envestnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Recurring revenues- Subscription-based: $117.08 million versus the five-analyst average estimate of $118.32 million.

  • Revenues- Professional services and other revenues: $4.70 million versus the five-analyst average estimate of $5.06 million. The reported number represents a year-over-year change of +20%.

  • Revenues- Recurring revenues- Asset-based: $176.93 million compared to the $178.65 million average estimate based on five analysts.

  • Revenues- Total Recurring Revenues: $294.01 million versus $295.61 million estimated by four analysts on average.

View all Key Company Metrics for Envestnet here>>>

Shares of Envestnet have returned +2.5% over the past month versus the Zacks S&P 500 composite's -0.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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Zacks Investment Research