Navigant Consulting (NCI) Tops Q1 EPS by 10c, Revenues Beat; Affirms FY19 Revenue Guidance Above Consensus, FY19 EPS Mid-Point Guidance Above Consensus

Navigant Consulting (NYSE: NCI) reported Q1 EPS of $0.18, $0.10 better than the analyst estimate of $0.08. Revenue for the quarter came in at $202.9 million versus the consensus estimate of $180.67 million.

• Revenues and revenues before reimbursements (RBR) were $202.9 and $186.1 million respectively, up 14% and 15% compared to first quarter 2018
• Net income from continuing operations attributable to Navigant Consulting, Inc. of $4.8 million, or $0.12 per share, was up $6.4 million compared to the first quarter 2018
• Adjusted Earnings per Share (EPS) from continuing operations of $0.18, which includes per share income attributable to non-controlling interest, net of tax, increased $0.15 compared to first quarter 2018
• Repurchased $53.5 million of common stock through the Company’s expanded share repurchase plan
• Refreshed its share repurchase authorization through Dec. 31, 2021 with an approved limit of $175 million
• Management affirms previously provided 2019 financial guidance targets

Commenting on first quarter performance, Julie Howard, chairman and CEO of Navigant, stated “We are off to a great start in 2019 led by continued growth in our Energy segment and a return to growth in Healthcare consulting. Our managed services business also produced strong results including exceptional performance from our joint venture, Health System Solutions, which is driving significant value for our partner client. Our talented professionals delivered this robust first quarter performance while also maintaining focus on strengthening our culture, expanding our digital and technology-enabled capabilities, and executing against our accelerated capital return initiative. Looking forward, we see continued momentum and remain poised to deliver on our 2019 continuing operations guidancetargets.”

GUIDANCE:

Navigant Consulting sees FY2019 EPS of $0.85-$1.00, versus the consensus of $0.89. Navigant Consulting sees FY2019 revenue of $810-840 million, versus the consensus of $749.22 million.

• RBR expected to range between $735 million and $765 million
• Adjusted EBITDA expected to range between $70 million and $80 million
• Adjusted Free Cash Flow estimated to be between $43 million and $53 million
• Capital expenditures estimated to be approximately $20 million

For earnings history and earnings-related data on Navigant Consulting (NCI) click here.

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