The 10-second takeaway
For the quarter ended Dec. 31 (Q4), CoreLogic beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share contracted significantly. GAAP earnings per share grew.
Margins expanded across the board.
CoreLogic reported revenue of $410.4 million. The four analysts polled by S&P Capital IQ hoped for revenue of $387.7 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $345.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.36. The five earnings estimates compiled by S&P Capital IQ predicted $0.33 per share. Non-GAAP EPS of $0.36 for Q4 were 16% lower than the prior-year quarter's $0.43 per share. (The prior-year quarter included -$0.15 per share in earnings from discontinued operations.) GAAP EPS were $0.15 for Q4 compared to -$0.21 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 45.4%, 790 basis points better than the prior-year quarter. Operating margin was 11.7%, 860 basis points better than the prior-year quarter. Net margin was 3.6%, 1,000 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $402.2 million. On the bottom line, the average EPS estimate is $0.43.
Next year's average estimate for revenue is $1.57 billion. The average EPS estimate is $1.70.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CoreLogic is outperform, with an average price target of $28.25.
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