Civitas Solutions (NYSE: CIVI) reported Q2 EPS of $0.37, $0.26 better than the analyst estimate of $0.11. Revenue for the quarter came in at $392.8 million versus the consensus estimate of $396.25 million.

Fiscal 2018 Outlook and Guidance

The Company is updating its fiscal 2018 net revenue and Adjusted EBITDA guidance that it communicated on February 8, 2018 during the release of fiscal first quarter results.

For fiscal 2018, the Company is narrowing its net revenue guidance range and reducing the top-end of its Adjusted EBITDA guidance range. The Company now expects fiscal 2018 net revenue in the range of $1.58 billion to $1.61 billion and fiscal 2018 Adjusted EBITDA in the range of $168 million to $171 million. This compared to our previous ranges of $1.57 billion to $1.62 billion and $168 million to $173 million, respectively. The revised adjusted EBITDA range includes the full fiscal 2018 impact of investing $4 million to support employee recruitment and retention from a portion of the cash tax savings the Company is receiving under the Tax Act.

GUIDANCE:

Civitas Solutions sees FY2018 revenue of $1.58-1.61 billion, versus the consensus of $1.6 billion.

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