Ellie Mae (ELLI) Tops Q1 EPS by 25c; Issues Mixed Outlook

Ellie Mae (NYSE: ELLI) reported Q1 EPS of $0.34, $0.25 better than the analyst estimate of $0.09. Revenue for the quarter came in at $117.9 million versus the consensus estimate of $108.52 million.

“Ellie Mae is off to a strong start with first quarter financial results exceeding expectations and the number of closed loans on our platform increasing 7% year-over-year despite lower industry volumes,” said Jonathan Corr, President & CEO.

“The increasing popularity of Encompass throughout the industry was evidenced by our March user conference, Ellie Mae Experience, which grew to over 3,000 attendees. At the conference, we unveiled our vision for a True Digital Mortgage that supports the entire loan lifecycle from home buyer interest, the initial consumer engagement and application, all the way through to post-closing and investor delivery. Data, business analytics and machine learning will be key drivers to the True Digital Mortgage. Building on this, our team will continue to deliver NG technology and enriched solutions throughout this year and into next as we drive toward our goal of end-to-end automation of the entire mortgage process,” concluded Mr. Corr.

GUIDANCE:

Ellie Mae sees Q2 2018 EPS of $0.38-$0.43, versus the consensus of $0.51. Ellie Mae sees Q2 2018 revenue of $122-124 million, versus the consensus of $124.86 million.

Ellie Mae sees FY2018 EPS of $1.68-$1.78, versus the consensus of $1.73. Ellie Mae sees FY2018 revenue of $495-505 million, versus the consensus of $497.2 million.

For earnings history and earnings-related data on Ellie Mae (ELLI) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Optimum Communications gets NYSE non-compliance notice over stock price
• Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c