Amdocs (DOX) Tops Q1 EPS by 1c, Offers Guidance

Amdocs (NASDAQ: DOX) reported Q1 EPS of $1.06, $0.01 better than the analyst estimate of $1.05. Revenue for the quarter came in at $1.04 billion versus the consensus estimate of $1.03 billion.

GUIDANCE:

Amdocs sees Q2 2020 EPS of $1.03-$1.09, versus the consensus of $1.11.

• Revenue of approximately $1,035-$1,075 million, assuming approximately $2 million sequential positive impact from foreign currency fluctuations as compared to the first quarter of fiscal 2020
• GAAP diluted EPS of approximately $0.82-$0.90.
• Non-GAAP diluted EPS of approximately $1.03-$1.09, excluding amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisitions related liabilities measured at fair value, and approximately $0.06-$0.08 per share of equity-based compensation expense, net of related tax effects
• Full Year Fiscal 2020 Outlook
• Expects revenue growth of 2.5%-5.5% year-over-year on a reported basis as compared with 1.5%-5.5% year-over-year previously
• Expects revenue growth of 2.5%-5.5% year-over-year on a constant currency basis as compared with 2.0%-6.0% year-over-year previously
• Full year fiscal 2020 revenue guidance incorporates just over 1% of growth from the acquisition of TTS Wireless, and an immaterial impact from foreign currency fluctuations as compared with a negative impact of about 0.5% year-over-year previously
• Reiterates GAAP diluted earnings per share growth of roughly 5.0%-12.0% year-over-year
• Reiterates non-GAAP diluted earnings per share growth of roughly 3.0%-7.0% year-over-year, excluding amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisitions related liabilities measured at fair value, and approximately $0.24-$0.30 per share of equity-based compensation expense, net of related tax effects.
• Expects free cash flow of approximately $400 million, comprised of cash flow from operations, less net capital expenditures and other, as compared with $350 million previously
• Expects normalized free cash flow of approximately $500 million as compared with $480 million previously; normalized free cash flow excludes capital expenditure of up to $90 million related to the new campus development in Israel, as compared with capital expenditure of up to $120 million previously, and other items

For earnings history and earnings-related data on Amdocs (DOX) click here.

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