UPDATE: Engility Holdings (EGL) Tops Q2 EPS by 16c, Revenues Beat

(Update corrects Q2 EPS for adjustment)

Engility Holdings (NYSE: EGL) reported Q2 EPS of $0.64, $0.16 better than the analyst estimate of $0.48. Revenue for the quarter came in at $488.5 million versus the consensus estimate of $472.26 million.

CEO Commentary

"Our second quarter revenue, profitability and cash flow results exceeded our expectations," said Lynn Dugle, Chairman, President and CEO of Engility. "We posted solid results across our business, and our success is being driven by our ability to effectively reposition Engility into higher-end markets, deliver customer-focused solutions, and upgrade our talent and performance levels. We have had a strong start to the year and we continue to target organic revenue growth in 2019."

Key Performance Indicators

• Book-to-bill ratio for the second quarter of 2018 was 1.0x on net bookings of $487 million. Trailing twelve-month book-to-bill ratio was 0.9x on net bookings of $1.65 billion.
• Total estimated contract value at the end of the second quarter of 2018 was $3.4 billion, consistent with the value at the end of the first quarter of 2018.
• Days sales outstanding, net of advanced payments, were 57 days at the end of the second quarter of 2018, compared to 58 days at the end of the second quarter of 2017.
• Cash flow generated from operating activities for the second quarter of 2018 was $47 million, compared to $37 million for the second quarter of 2017.
• During the second quarter of 2018, the company made total debt payments of $25 million. Total debt payments for the first half of 2018 were $45 million.

GUIDANCE:

Engility Holdings sees FY2018 EPS of $0.81-$0.91. Engility Holdings sees FY2018 revenue of $1.83-1.91 million.

For earnings history and earnings-related data on Engility Holdings (EGL) click here.

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