Black Knight Inc. (BKI) Tops Q4 EPS by 5c, Revenues Beat; Offers FY21 EPS Guidance Below Consensus, FY21 Revenues Mid-Point Below Consensus

February 16, 2021 7:12 AM EST

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Black Knight Inc. (NYSE: BKI) reported Q4 EPS of $0.60, $0.05 better than the analyst estimate of $0.55. Revenue for the quarter came in at $342.2 million versus the consensus estimate of $335.99 million.

Fourth Quarter 2020 Financial Highlights:

  • Revenues of $342.1 million, an increase of 14% compared to the prior year quarter.
  • Net earnings attributable to Black Knight of $47.1 million, an increase of 265% compared to the prior year quarter. Diluted EPS of $0.30, an increase of 233% compared to the prior year quarter. Net earnings margin of 12.3% compared to 4.3% in the prior year quarter. The effect of our investment in Dun & Bradstreet Holdings, Inc. (\"DNB\") was an increase in Net earnings attributable to Black Knight of $0.9 million, or $0.01 per diluted share, compared to a reduction in Net earnings attributable to Black Knight of $36.1 million, or $0.24 per diluted share, in the prior year quarter.
  • Adjusted revenues of $342.2 million, an increase of 14% compared to the prior year quarter; Organic revenues growth of 4.4%.
  • Adjusted net earnings of $93.5 million, an increase of 16% compared to the prior year quarter. Adjusted EPS of $0.60 per diluted share, an increase of 11% compared to the prior year quarter.
  • Adjusted EBITDA of $167.8 million, an increase of 13% compared to the prior year quarter. Adjusted EBITDA margin was 49.0% compared to 49.5% in the prior year quarter.
  • As of December 31, 2020, we had cash and cash equivalents of $34.7 million, debt of $2,194.9 million and available capacity of $702.3 million on our revolving credit facility.

Black Knight Chairman Bill Foley said, "We are pleased with our solid results in 2020, as our team continued to execute against our long-term strategic initiatives despite an uncertain economic environment due to COVID-19. This performance proves the strength of the underlying fundamentals of our business."

Black Knight Chief Executive Officer Anthony Jabbour added, "We finished the year with a very solid fourth quarter, which included Adjusted revenues growth of 14% and Adjusted EBITDA growth of 13%. We had positive momentum across all of our business lines, which was the result of winning new clients, cross selling products to existing clients, innovating with urgency and executing on acquisitions. This performance further demonstrates our ability to deliver results even in the toughest environments."

GUIDANCE:

Black Knight Inc. sees FY2021 EPS of $2.11-$2.22, versus the consensus of $2.35. Black Knight Inc. sees FY2021 revenue of $1.394-1.422 billion, versus the consensus of $1.41 billion.

Black Knight's full year 2021 outlook is as follows:

  • Revenues and Adjusted revenues are expected to be in the range of $1,394 million to $1,422 million, which represents growth of 13% to 15%; Organic revenues growth of 5% to 7%.
  • Adjusted EPS is expected to be in the range of $2.11 to $2.22.
  • Adjusted EBITDA is expected to be in the range of $689 million to $711 million.

For earnings history and earnings-related data on Black Knight Inc. (BKI) click here.



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