Civitas Solutions (CIVI) Reports Q4 EPS of $0.42, Revenues Beat; Offers FY19 Revenue Outlook

Civitas Solutions (NYSE: CIVI) reported Q4 EPS of $0.42, versus $0.79 reported last year. Revenue for the quarter came in at $409.5 million versus the consensus estimate of $406.68 million.

“We are pleased with our fiscal 2018 results and, especially, the momentum generated during the back half of the year,” stated Bruce Nardella, president and chief executive officer. “While we continue to operate in a challenging labor environment, throughout fiscal 2018 management took important actions to stabilize labor costs, strengthen our business and generate efficiencies across the company. We remained very active with M&A, acquiring 11 companies with total annual revenues of approximately $70 million. At the same time, we initiated 50 new start projects to drive organic growth, and achieved volume and average rate growth across all four operating divisions.

“As we enter fiscal 2019, the fundamentals underpinning our business remain very strong,” Nardella added. “We are well positioned to continue to execute our long-term growth strategy and fulfill our mission through the expansion of high-quality, cost-effective services. In doing so, I am confident we can create value for our shareholders.”

GUIDANCE:

Civitas Solutions sees FY2019 revenue of $1.66-1.71 billion, versus the consensus of $1.67 billion.

For earnings history and earnings-related data on Civitas Solutions (CIVI) click here.

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