Presidio, Inc. (PSDO) Tops Q2 EPS by 4c, Revenues Beat; Offers FY19 Revenue Guidance Above Consensus

Presidio, Inc. (NASDAQ: PSDO) reported Q2 EPS of $0.39, $0.04 better than the analyst estimate of $0.35. Revenue for the quarter came in at $767.8 million versus the consensus estimate of $682.28 million.

“We are very pleased with our results for the second quarter, where we delivered total revenue growth of 18.3%; our second consecutive quarter with record quarterly revenue. In addition, our strong cash flow allowed us to prepay an additional $25.0 million of our outstanding term loan, bringing our year-to-date voluntary prepayments to $50.0 million,” said Bob Cagnazzi, Chief Executive Officer of Presidio. “We believe these results highlight the effectiveness of our multi-cloud, multi-vendor strategy, which drives deep relationships with our clients, and leads them to select Presidio for large complex projects. Based on our strong performance in the first half of fiscal 2019, we have raised our revenue outlook for Fiscal 2019, as we now expect total revenue growth of 5% to 7% for the full year. Furthermore, we are pleased to announce our Board of Directors has declared a quarterly cash dividend of $0.04 per share to be paid in April 2019. We believe our 9.9% total revenue growth for the first half of fiscal 2019 demonstrates the execution of our strategic growth initiatives as we continue to capitalize on our favorable free cash flow profile to drive shareholder value creation,” Cagnazzi continued.

GUIDANCE:

Presidio, Inc. sees FY2019 revenue of $2.91-2.95 billion, versus the consensus of $2.87 billion.

For earnings history and earnings-related data on Presidio, Inc. (PSDO) click here.

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