CDK Global (CDK) Tops Q3 EPS by 4c, Revenues Beat; Affirms FY19 EPS/Revenue Guidance

CDK Global (NASDAQ: CDK) reported Q3 EPS of $0.98, $0.04 better than the analyst estimate of $0.94. Revenue for the quarter came in at $602.1 million versus the consensus estimate of $596.48 million.

• Revenues of $602.1 million
• GAAP net earnings attributable to CDK of $99.8 million and adjusted EBITDA of $222.5 million
• GAAP diluted earnings attributable to CDK per share of $0.80 and adjusted diluted earnings attributable to CDK per share of $0.98
• Maintains revenue and adjusted EPS guidance ranges; tightens adjusted EBITDA range

“We had a good third quarter, and I’m pleased with the positive momentum in the business we’re seeing as we deliver on our commitment to provide great automotive experiences for our customers,” said Brian Krzanich, president and chief executive officer. “We’re transforming the way we deliver value to, interact with, and grow with our customers, and I’m excited about the opportunities ahead for us.”

GUIDANCE:

CDK Global sees FY2019 EPS of $3.70-$3.80, versus the consensus of $3.76. CDK Global sees FY2019 revenue of $2.32-2.35 billion, versus the consensus of $2.33 billion.

• We have tightened our GAAP net earnings attributable to CDK range to $330 million - $345 million, and adjusted EBITDA range to $860 million - $875 million.

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

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