Monster Worldwide (MWW) Reports In-Line Q1 EPS; Q2 EPS Guided Below the Street

Monster Worldwide (NYSE: MWW) reported Q1 EPS of $0.07, in-line with the analyst estimate of $0.07. Revenue for the quarter came in at $157.8 million versus the consensus estimate of $159.86 million.

Tim Yates, Chief Executive Officer and Chief Financial Officer, stated, "We continue to make steady progress on implementing our All the Jobs, All the People strategy which is improving our value proposition for our customers and job seekers. While results in our North America business in the first quarter were mixed, we have experienced improving trends in our European business for the third consecutive quarter. Additionally, we repurchased both equity and a portion of the convertible notes outstanding, demonstrating our confidence in our business and starting in the second quarter, as previously noted, we will be increasing investments in a couple of targeted product and marketing areas designed to accelerate top line growth. Overall, we are pleased with our earnings performance and cash generation during the quarter, and we remain focused on revenue growth."

GUIDANCE:

Monster Worldwide sees Q2 2016 EPS of $0.00-$0.04, versus the consensus of $0.07.

For the second quarter of 2016, the Company expects Cash EBITDA, which is defined as operating income excluding depreciation, amortization, non-cash impairment and stock-based compensation, to be in the range of $13 million to $18 million. Adjusted EBITDA is expected to be in the range of $15 million to $20 million. The Company stated that Cash EBITDA is its primary profitability metric, however, since the Company has referred to Adjusted EBITDA as a profitability metric in prior periods, this guidance is being provided for the second quarter of 2016.

Non-GAAP earnings per share for the second quarter of 2016 is expected to be in the range of break-even to $0.04, which excludes $2 million to $3 million of stock-based compensation and $1.3 million of non-cash debt discount amortization related to the convertible notes.

For the full year 2016, Cash EBITDA is expected to be in the range of $85 million to $100 million. The Company now expects year-over-year revenue growth in the low-to-mid single digits at constant rates in the fourth quarter of 2016. Historical data on Non-GAAP items is available on the Company's supplemental financial information.

For earnings history and earnings-related data on Monster Worldwide (MWW) click here.

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