Free Post Earnings Research Report: Vantiv’s Quarterly Revenue Jumped 13%; EPS Soared 39%
Stock Monitor: Document Security Systems Post Earnings Reporting
LONDON, UK / ACCESSWIRE / November 29, 2017 / Active-Investors free earnings report on Vantiv, Inc. (NYSE: VNTV) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=VNTV. Vantiv reported its third quarter fiscal 2017 operating results on October 26, 2017. The payments processor exceeded revenue and earnings estimates and also provided guidance for the upcoming quarter and fiscal year. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is currently working on the research report for Document Security Systems, Inc. (NYSE: DSS), which also belongs to the Services sector as the Company Vantiv. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Vantiv most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
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Earnings Highlights and Summary
For the third quarter ended September 30, 2017, Vantiv's total revenue increased 13% to $1.03 billion compared to $914.0 million in Q3 2016. The Company's net revenue jumped 13% to $554.2 million compared to $490.7 million in the prior year's same period. Vantiv's revenue topped analysts' estimates of $551.9 million.
Vantiv's other operating costs increased 10% to $79.5 million on a GAAP basis in Q3 2017 compared to $72.2 million in Q3 2016. Excluding transition, acquisition, and integration costs of $2.6 million, other operating costs increased 9% on a pro-forma basis to $76.9 million in the reported quarter compared to $70.4 million in the prior year's same period.
For Q3 2017, Vantiv's general and administrative (G&A) expenses increased 22% to $49.6 million on a GAAP basis compared to $40.7 million in Q3 2016. Excluding transition, acquisition, and integration costs of $2.5 million as well as share-based compensation of $13.6 million, the Company's G&A expenses increased 11% to $33.5 million on a pro-forma basis in the reported quarter compared to $30.1 million in the prior year's same period.
Vantiv's adjusted EBITDA increased 14% to $270.1 million, or 48.7% of net revenue, in Q3 2017 compared to $236.9 million, or 48.3% of net revenue, in Q3 2016, reflecting strong operating leverage and expense control.
On a GAAP basis, net income per diluted share attributable to Vantiv surged 39% to $0.57 in Q3 2017 compared to $0.41 in Q3 2016. The Company's pro-forma adjusted net income per share increased 27% to $0.90 versus $0.71 in the prior year's comparable period. Vantiv's earnings surpassed Wall Street's estimates of $0.89 per share.
Vantiv's Segment Results
During Q3 2017, Vantiv's Merchant Services net revenue increased 16% to $468.8 million compared to $404.4 million in Q3 2016, primarily due to a 9% increase in transactions and a 6% increase in net revenue per transaction. The segment's sales and marketing expenses increased 14% to $168.0 million in the reported quarter compared to $147.7 million in the prior year's same period, primarily due to strong new sales growth in partner channels.
For Q3 2017, the Financial Institution Services segment's net revenue decreased 1% to $85.5 million compared to $86.2 million in Q3 2016. The decrease in net revenue was primarily due to the de-conversion of a major client. The segment's sales and marketing expenses increased 3% to $5.8 million in the reported quarter compared to $5.6 million in the prior year's corresponding period.
Outlook
For FY17, Vantiv is forecasting net revenue to be in the range of $2.11 billion to $2.12 billion, representing an increase of 11% on a y-o-y basis. On a GAAP basis, net income per diluted share attributable to Vantiv is expected to be $1.42 - $1.47 for FY17. Pro-forma adjusted net income per share is expected to be $3.34 - $3.36 for the full-year 2017.
For Q4 2017, Vantiv is projecting net revenue to be in the band of $556 million to $566 million, representing an increase of 11% to 13% above the prior year's same period. On a GAAP basis, the Company's net income per diluted share attributable to Vantiv, is estimated to be $0.24 to $0.30 for Q4 2017. Pro-forma adjusted net income per share is expected to be $0.94 - $0.96 for the upcoming quarter.
Stock Performance Snapshot
November 28, 2017 - At Tuesday's closing bell, Vantiv's stock advanced 1.60%, ending the trading session at $74.31.
Volume traded for the day: 6.59 million shares, which was above the 3-month average volume of 2.30 million shares.
Stock performance in the last month – up 9.26%; previous three-month period – up 4.29%; past twelve-month period – up 27.72%; and year-to-date – up 24.64%
After yesterday's close, Vantiv's market cap was at $13.02 billion.
Price to Earnings (P/E) ratio was at 50.79.
The stock is part of the Services sector, categorized under the Business Services industry. This sector was up 0.9% at the end of the session.
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