Civitas Solutions (CIVI) Misses Q3 EPS by 1c, Miss on Revenues; Reduces FY17 Revenue High-End Guidance
Civitas Solutions (NYSE: CIVI) reported Q3 EPS of $0.20, $0.01 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $3.72 billion versus the consensus estimate of $377.18 million.
Fiscal 2017 Outlook and Guidance
The Company is updating its fiscal year 2017 net revenue and Adjusted EBITDA guidance that it communicated on May 10, 2017 during the release of fiscal second quarter results.
For fiscal 2017, the Company is reducing the top-end of its net revenue and Adjusted EBITDA guidance while maintaining the low-end of both ranges. The Company now expects fiscal 2017 net revenue in the range of $1.48 billion to $1.49 billion and fiscal 2017 Adjusted EBITDA in the range of $162 million to $165 million. This compares to our previous ranges of $1.48 billion to $1.52 billion and $162 million to $166 million, respectively.
Civitas Solutions sees FY2017 revenue of $1.48-1.49 billion, versus the consensus of $1.49 billion.
Third Quarter Fiscal 2017 Results At A Glance
- Third quarter net revenue increased 5.2% to $372.3 million
- Third quarter net income was $7.4 million, compared to net income of $4.8 million in the third quarter of fiscal 2016
- Third quarter Adjusted EBITDA increased by 4.0% to $42.3 million
- Completed seven acquisitions, including one that closed on July 1st, with total annual revenues of $23.2 million
- Expanded platform of Adult Day Health services to third state with acquisition of New Jersey provider
For earnings history and earnings-related data on Civitas Solutions (CIVI) click here.