Virtu Financial (VIRT) Tops Q1 EPS by 15c, Big Beat on Revenues

Virtu Financial (NASDAQ: VIRT) reported Q1 EPS of $0.76, $0.15 better than the analyst estimate of $0.61. Revenue for the quarter came in at $815 million versus the consensus estimate of $305.87 million.

First Quarter Selected Highlights

• Net income of $410.0 million, Normalized Adjusted Net Income* of $145.0 million
• Basic earnings per share of $1.89; Diluted earnings per share of $1.86; Normalized Adjusted EPS* of $0.76
• Total revenues of $815.1 million; Adjusted Net Trading Income* of $340.3 million
• Adjusted EBITDA* of $222.7 million; Adjusted EBITDA Margin* of 65.4%
• Results include $329 million net gain on sale of BondPoint transaction closed on January 2, 2018
• Expense and capital synergies on track with forecast as integration progresses
• Made $376 million of pre-payments on the term loan since the beginning of 2018, including $100 million pre-payment made on April 19
• Total to-date pre-payments of $626 million on the $1.15 billion term loan debt incurred in connection with KCG acquisition
• Repurchased to date $11 million out of $50 million previously announced share buyback program
• Quarterly cash dividend of $0.24 per share payable on June 15, 2018

For earnings history and earnings-related data on Virtu Financial (VIRT) click here.

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