Convergys (CVG) Tops Q1 EPS by 7c; Confirms Outlook

Convergys (NYSE: CVG) reported Q1 EPS of $0.52, $0.07 better than the analyst estimate of $0.45. Revenue for the quarter came in at $728 million versus the consensus estimate of $719.96 million.

• Revenue of $728 million, up 1 percent as reported and up 2 percent on a constant currency basis compared with prior year, including a 6 percent contribution from the buw acquisition;
• GAAP operating income was $49 million, including severance charges of $13 million for discrete actions to streamline the business and $10 million acquisition-related impacts, compared with $60 million in the prior year; adjusted operating income was $71 million, compared with $71 million in the prior year;
• GAAP net income from continuing operations was $38 million, including discrete actions and acquisition-related impacts, compared with $45 million in the prior year; adjusted net income from continuing operations was $52 million, compared with $52 million in the prior year;
• Adjusted EBITDA was $99 million, compared with $98 million in the prior year;
• GAAP EPS from continuing operations of $0.38, including discrete actions and acquisition-related impacts, compared with $0.43 in prior year; adjusted EPS from continuing operations of $0.52, compared with $0.50 in prior year;
• $31 million capital returned to shareholders via share repurchase and dividend;
• Confirming 2017 guidance.

For earnings history and earnings-related data on Convergys (CVG) click here.

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