Ellie Mae (ELLI) Tops Q2 EPS by 12c

Ellie Mae (NYSE: ELLI) reported Q2 EPS of $0.54, $0.12 better than the analyst estimate of $0.42. Revenue for the quarter came in at $125 million versus the consensus estimate of $123.6 million.

“I am pleased to report another solid quarter in which our financial results exceeded our expectations. The number of closed loans on Encompass increased 6% year-over-year despite lower industry volumes while revenue per loan increased 13% year-over-year,” said Jonathan Corr, President & CEO.

“The value proposition of Encompass remains strong as the industry seeks a digital mortgage platform that improves and streamlines the complex origination process. We have made continued progress in the rollout of our Encompass Lending Platform, announcing the general availability of several Encompass Connect solutions. This includes the general availability of Encompass Consumer Connect, which is designed to help lenders better compete in today’s highly competitive purchase-centric market by enabling a seamless end-to-end digital experience for the borrower,” concluded Mr. Corr.

GUIDANCE:

Ellie Mae sees Q3 2018 EPS of $0.52-$0.57, versus the consensus of $0.54. Ellie Mae sees Q3 2018 revenue of $127-129 million, versus the consensus of $130.04 million.

Ellie Mae sees FY2018 EPS of $1.79-$1.92, versus the consensus of $1.76. Ellie Mae sees FY2018 revenue of $485-505 million, versus the consensus of $499.98 million.

For earnings history and earnings-related data on Ellie Mae (ELLI) click here.

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