Corporate Executive Board
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Corporate Executive Board beat slightly on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped to a loss.
Margins contracted across the board.
Corporate Executive Board reported revenue of $164.7 million. The six analysts polled by S&P Capital IQ predicted revenue of $163.1 million on the same basis. GAAP reported sales were 34% higher than the prior-year quarter's $122.9 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 $0.74. The seven earnings estimates compiled by S&P Capital IQ predicted $0.44 per share. GAAP EPS were -$0.01 for Q3 against $0.41 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 63.5%, 240 basis points worse than the prior-year quarter. Operating margin was 16.5%, 420 basis points worse than the prior-year quarter. Net margin was -0.3%, 1,170 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $185.4 million. On the bottom line, the average EPS estimate is $0.55.
Next year's average estimate for revenue is $595.3 million. The average EPS estimate is $1.92.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Corporate Executive Board is hold, with an average price target of $46.57.
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