Ultimate Software Group (ULTI) Tops Q3 EPS by 1c, Revenues Slightly Beat; Offers Q4 Revenue Outlook Below Consensus

Ultimate Software Group (NASDAQ: ULTI) reported Q3 EPS of $1.33, $0.01 better than the analyst estimate of $1.32. Revenue for the quarter came in at $287.8 million versus the consensus estimate of $287.24 million.

“Our third-quarter financial performance keeps us on target to achieve all of our 2018 objectives, including surpassing $1 billion in total revenues, and starts the ball rolling toward our new 2021 objective of $2 billion in total revenues. At the same time, we maintained our year-over-year customer retention rate of approximately 96%,” said Scott Scherr, founder, president, and CEO of Ultimate.

“Today, Fortune magazine named Ultimate #1 on its 2018 100 Best Workplaces for Women list. Fortune determined rankings in conjunction with Great Place to Work, whose team analyzed hundreds of companies’ practices, policies, and data as well as 540,000 anonymous surveys completed by employees. We are equally proud that Nucleus Research named Ultimate a ‘Leader’ in its annual HCM Value Matrix, for the fourth consecutive year. Ultimate earned the top rating for product functionality and was one of the two highest-ranked vendors for usability,” added Scherr.

GUIDANCE:

Ultimate Software Group sees Q4 2018 revenue of $300 million, versus the consensus of $302.71 million.

For earnings history and earnings-related data on Ultimate Software Group (ULTI) click here.

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