Verisk Analytics (NASDAQ: VRSK) reported Q1 EPS of $1.17, $0.04 better than the analyst estimate of $1.13. Revenue for the quarter came in at $690 million versus the consensus estimate of $684.95 million.

Verisk Reports First-Quarter 2020 Financial Results

• Consolidated revenues were $690 million, up 10.4%, and up 5.0% on an organic constant currency (OCC) basis for the first quarter of 2020.
• Net income was $172 million, up 27.8% for the first quarter of 2020. Adjusted EBITDA, a non-GAAP measure, was $318 million, up 9.0%, and up 7.4% on an OCC basis.
• Diluted GAAP earnings per share (diluted EPS) were $1.04 for the first quarter of 2020. Diluted adjusted earnings per share (diluted adjusted EPS), a non-GAAP measure, were $1.17.
• Net cash provided by operating activities was $363 million, down 1.0% for the first quarter of 2020. Free cash flow, a non-GAAP measure, was $310 million, down 3.5%.
• The company paid a cash dividend of 27 cents per share on March 31, 2020. The company’s Board of Directors approved a cash dividend of 27 cents per share payable on June 30, 2020.
• The company repurchased $174 million of its shares during the first quarter of 2020.
• The company currently has $595 million of undrawn capacity on its revolver and no meaningful maturities until May 2021.

Scott Stephenson, chairman, president, and CEO, said, “During these challenging times, we are laser-focused on providing uninterrupted great service and support to our customers while also protecting the well-being of our more than 9,000 Verisk teammates around the world. We’re navigating through this time of uncertainty from a position of strength and will continue to invest in our business and our people to capitalize on our competitive advantages over the long-term.”

Lee Shavel, CFO and executive vice president, said, “Normalizing for the continued impact of the injunction, Verisk delivered organic constant currency revenue growth of 5.8% and organic constant currency adjusted EBITDA growth of 9.0% in first-quarter 2020. During the quarter, we returned $218 million to shareholders through dividends and repurchases while continuing to invest in our business, demonstrating the resilience of our business model and the strength of our balance sheet.”

For earnings history and earnings-related data on Verisk Analytics (VRSK) click here.