SS&C Technologies (NASDAQ: SSNC) reported Q1 EPS of $0.91, $0.04 better than the analyst estimate of $0.87. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.15 billion.

• Adjusted consolidated EBITDA increased 148.1 percent to $443.4 million in Q1 2019. Adjusted consolidated EBITDA margin was 38.6 percent for the quarter.
• Cash flow provided by operations increased 96.6 percent to $137.4 million for the three months ended March 31, 2019.
• One year after acquiring DST Systems, we have implemented $265.0 million in cost synergies, nearly 90.0 percent of our $300.0 million three year goal.
• Paid down $1,084.3 million in debt since acquiring DST Systems, bringing our leverage ratio to 4.40 times consolidated EBITDA as of March 31, 2019.
• On March 28, 2019 SS&C issued $2.0 billion in fixed unsecured senior notes, with an interest rate of 5.500% per annum, eliminating $1.99 billion of our variable rate debt.

"SS&C delivered record revenue and record earnings in Q1 2019, with $1,150.0 million in adjusted revenue and $0.91 in adjusted diluted earnings per share," says Bill Stone, Chairman and Chief Executive Officer. "We are delighted with progress made in our 2018 acquisitions: DST, Eze and Intralinks. Product integrations, pipeline growth, and collaboration between business units are all advances. We continue to build software and cross sell our products and services. We are optimistic we will accelerate revenue in the back half of this year."

GUIDANCE:

SS&C Technologies sees Q2 2019 revenue of $1.138-1.168 billion, versus the consensus of $1.17 billion.

SS&C Technologies sees FY2019 revenue of $4.675-4.765 billion, versus the consensus of $4.75 billion.

For earnings history and earnings-related data on SS&C Technologies (SSNC) click here.