RealPage (RP) Tops Q2 EPS by 8c

RealPage (NASDAQ: RP) reported Q2 EPS of $0.49, $0.08 better than the analyst estimate of $0.41. Revenue for the quarter came in at $285.6 million versus the consensus estimate of $278.77 million.

“Second quarter financial performance was better than expected with total revenue growing 17% to $286 million, and Adjusted EBITDA growing 17% to nearly $80 million – both compared to last year. Numbers were exceptionally strong relative to our guidance because the impact of COVID-19 was not as impactful as we feared and there is surging demand for solutions that facilitate virtual leasing and living offered by RealPage,” said Steve Winn, Chairman and CEO of RealPage.

“We are raising the mid-point of our full year revenue growth outlook by $10.0 million and our Adjusted EBITDA margin guidance by over 50 basis points,” said Tom Ernst, CFO and Treasurer of RealPage. “Our investment in product development and sales and marketing will remain at elevated levels to capitalize on the changing dynamics of the way renters live and work in a post-COVID world. We believe these investments position us for sustained long term growth.”

GUIDANCE:

RealPage sees Q3 2020 EPS of $0.43-$0.46, versus the consensus of $0.45. RealPage sees Q3 2020 revenue of $288-294 million, versus the consensus of $289.5 million.

For earnings history and earnings-related data on RealPage (RP) click here.

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