Perspecta (PRSP) Tops Q3 EPS by 2c, Revenues Beat; Raises FY20 EPS/Revenue Guidance

Perspecta (NYSE: PRSP) reported Q3 EPS of $0.55, $0.02 better than the analyst estimate of $0.53. Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.11 billion.

"Our third quarter results reflect another period of solid execution across the enterprise, delivering strong revenue, earnings and free cash flow conversion," said Mac Curtis, president and chief executive officer, Perspecta. "I am pleased with our operational performance and business development efforts in the market as we succeeded in closing $1.6 billion in awards this quarter."

"We continue to leverage our deep customer insight, discriminating offerings and focus on delivery excellence to drive long-term partnerships with our customers," Curtis continued. "Our message is resonating and our ability to quickly and successfully deploy a broad set of capabilities directly supports our customers' objectives to transform and modernize. Key new business wins have sustained positive momentum in both of our segments while securing new customers. Our strong execution, talented leadership team and laser focus on customer needs has us well positioned to generate value for all our stakeholders."

GUIDANCE:

Perspecta sees FY2020 EPS of $2.12-$2.18, versus the consensus of $2.13. Perspecta sees FY2020 revenue of $4.45-4.5 billion, versus the consensus of $4.48 billion.

For earnings history and earnings-related data on Perspecta (PRSP) click here.

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