Engility Holdings (EGL) Tops Q1 EPS by 12c, Revenue Light, Reaffirms Guidance

Engility Holdings (NYSE: EGL) reported Q1 EPS of $0.60, $0.12 better than the analyst estimate of $0.48. Revenue for the quarter came in at $339 million versus the consensus estimate of $367.3 million.Engility Holdings reaffirmed FY2014 guidance.

2014 Outlook

"We are reiterating the fiscal year 2014 financial guidance we issued on March 13, 2014 based on our first quarter 2014 financial results and our outlook for the remainder of 2014. The table below summarizes our fiscal year 2014 guidance.

2014 Fiscal Year Outlook
Revenue $1.45 billion - $1.55 billion
Adjusted Diluted EPS (1) (2) $2.70 - $3.20
GAAP Diluted EPS (1) $2.24 - $2.70
Operating cash flow $95 million - $105 million

(1) 2014 GAAP and adjusted diluted EPS guidance assumes weighted-average outstanding shares of approximately 18.4 million and a full year effective tax rate of 39.0%. It also includes eleven months of DRC’s expected financial results as the acquisition closed on January 31, 2014.

(2) Our adjusted diluted EPS guidance excludes an estimated $6.2 million, or $0.20 per share, of additional amortization of intangible asset expenses, and approximately $8.0 to $9.0 million, or $0.27 to $0.30 per share, of estimated integration costs associated with the DRC acquisition."

For earnings history and earnings-related data on Engility Holdings (EGL) click here.

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