UPDATE: PTC (PTC) Reports In-Line Q3 EPS; Guides Modestly Below the Street
(updated to add guidance)
PTC (NASDAQ: PTC) reported Q3 EPS of $0.28, in-line with the analyst estimate of $0.28. Revenue for the quarter came in at $291 million versus the consensus estimate of $290.56 million.
The company sees Q4 EPS of $0.33-$0.38 and revenue of $303-$308 million, versus the consensus of $0.37 and $308.99 million.
The company sees FY EPS of $1.17-$1.22 and revenue of $1.163-$1.168 billion versus the consensus of $1.21 and $1.17 billion.
“We are pleased to report a strong 89 combined ratio and continued book value growth, as each of our segments were profitable in the second quarter,” said RLI Corp. Chairman & CEO Jonathan E. Michael. “Overall premium was down versus last year, due largely to re-underwriting efforts on auto-related exposures, as well as certain product exits. Despite these impacts, premium production continues to benefit from strong performance within the casualty segment. As we head into the second half of the year, our underwriters remain focused on maintaining their underwriting discipline in the face of continued competitive pressures.”
Heppelmann continued, “We are excited about both the transformation we are driving in our core business and our leadership position in IoT. In addition to attracting over 8,000 in-person and virtual attendees to LiveWorx, we recently received two 2017 Compass Intelligence IoT Awards, and our strong technology and market position received further validation in IDC’s MarketScape report, which placed PTC squarely in the IoT platform leadership category and also recognized PTC as the market share leader.”
For earnings history and earnings-related data on PTC (PTC) click here.