CDK Global (CDK) Tops Q1 EPS by 3c, Slight Beat on Revenues; Raises FY19 Revenue Guidance

*Used ASC 605 Reporting Figures

CDK Global (NASDAQ: CDK) reported Q1 EPS of $0.91*, $0.03 better than the analyst estimate of $0.88. Revenue for the quarter came in at $565.9* million versus the consensus estimate of $565.13 million.

ASC 606

• Revenues of $554.5 million
• GAAP net earnings attributable to CDK margin of 16.3% and adjusted EBITDA margin of 37.7%
• GAAP diluted earnings attributed to CDK per share of $0.69 and adjusted diluted earnings attributable to CDK per share of $0.89
• Provides full year revenue guidance of $2.33 billion - $2.36 billion

ASC 605

• Revenues flat year-over-year at $565.9 million
• GAAP net earnings attributable to CDK margin expand 190 bps to 16.3% and adjusted EBITDA margins expand 330 bps to 37.4%
• GAAP diluted earnings attributable to CDK per share rise 25% to $0.71 and adjusted diluted earnings attributable to CDK per share rise 30% to $0.91
• Increases full year revenue guidance to $2.36 billion - $2.39 billion

“The first quarter was a solid start to fiscal 2019 as we begin to see the results from our growth initiatives,” said Brian MacDonald, chief executive officer. “We continue to see strong sales results across new site wins and strategic layered applications, and we’re especially pleased by the initial results of our recently completed acquisition of ELEAD1ONE. Accelerating growth in our core business remains our top priority.”

GUIDANCE:

CDK Global sees FY2019 revenue of $2.36-2.69 billion*, versus the consensus of $2.28 billion.

For earnings history and earnings-related data on CDK Global (CDK) click here.

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