InnerWorkings Announces Fourth Quarter and Full Year 2019 Results
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InnerWorkings (INWK) Misses Q4 EPS by 5c, Revenues Beat; Offers FY20 Revenue Guidance Below Consensus
March 16, 2020 4:34 PM EDTInnerWorkings (NASDAQ: INWK) reported Q4 EPS of ($0.01), $0.05 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $319.07 million versus the consensus estimate of $303.82 million.
Financial and Business Highlights
Gross revenue was $319.1 million in the fourth quarter of 2019, an increase of 9% compared to $294.0 million in the fourth quarter of 2018. Fourth quarter 2019 gross revenue included $15 million of incremental revenue on bill and hold arrangements, as discussed below. Gross revenue of $1,157.8 million for the full year 2019 increased 3% over 2018, or 5% excluding currency impact.Gross profit was $62.1 million, or 19.5% of gross revenue in the... More