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BKI Shares Gained On Q1 Earnings Beat, Raised FY21 Outlook

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BKI Shares Gained On Q1 Earnings Beat, Raised FY21 Outlook
  • Black Knight Inc (NYSE: BKIreported first-quarter FY21 revenue growth of 20% year-on-year to $349.7 million, beating the analyst consensus of $338.21 million. Organic revenue rose 9% Y/Y.
  • Software Solutions revenue rose 21% Y/Y to $295.8 million, with organic revenue growth of 9%. Data and Analytics revenue rose 17% Y/Y to $53.9 million, with organic revenue growth of 11%.
  • Adjusted EBITDA rose 24% Y/Y to $174 million as the margin expanded 160 basis points to 49.8%.
  • Adjusted net earnings rose 26% Y/Y to $87.5 million, with adjusted EPS of $0.56, beating the analyst consensus of $0.51.
  • The company repurchased $46.7 million shares during Q1.
  • Black Knight held $44.9 million in cash and equivalents and generated $77.4 million in operating cash flow.
  • Guidance: Black Knight raised FY21 revenue outlook from $1.394 billion - $1.422 billion to $1.407 billion - $1.428 billion, versus analyst consensus of $1.41 billion. 
  • Adjusted EBITDA outlook was raised from $689 million - $711 million to $695 million - $711 million. Adjusted EPS outlook was raised from $2.11 - $2.22 to $2.16 - $2.24, higher than the analyst consensus of $2.2.
  • Price action: BKI shares traded higher by 4.04% at $74.14 in the after-hours session on the last check Thursday.
 

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