Perspecta (PRSP) Tops Q1 EPS by 8c, Revenues Beat; Affirms FY19 EPS/Revenue Outlook

Perspecta (NYSE: PRSP) reported Q1 EPS of $0.54, $0.08 better than the analyst estimate of $0.46. Revenue for the quarter came in at $1.04 billion versus the consensus estimate of $1.03 billion.

"We are excited to begin operating and reporting as Perspecta, a leader in combining enterprise information technology and mission services to serve the needs of the U.S. public sector," said Mac Curtis, Perspecta's president and CEO. "We are committed to delivering robust and sustainable growth as we execute across the entire services pyramid and differentiate through innovation and intellectual property. The first quarter's strong performance across the board positions us well to meet the promises we laid out at our Investor Day and build a solid foundation for the future."

John Kavanaugh, Perspecta CFO, commented, "The team's performance out of the gate has been outstanding, and we are on course and speed to deliver on our full year guidance. Our cash performance enabled us to pay off our revolver and enhance our financial flexibility. With a robust volume of submitted proposals and strong market positioning, we look forward to accelerating new business wins while maintaining our industry-leading profitability and strong cash generation."

GUIDANCE:

Perspecta sees FY2019 EPS of $1.80-$1.95, versus the consensus of $0.00. Perspecta sees FY2019 revenue of $4.15-4.25 billion, versus the consensus of $4.2 billion.

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

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