The 10-second takeaway
For the quarter ended March 31 (Q1), CoreLogic beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded. Non-GAAP earnings per share increased significantly. GAAP earnings per share expanded significantly.
Margins increased across the board.
CoreLogic reported revenue of $397.2 million. The four analysts polled by S&P Capital IQ expected to see revenue of $387.7 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $358.1 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 $0.45. The four earnings estimates compiled by S&P Capital IQ averaged $0.37 per share. Non-GAAP EPS of $0.45 for Q1 were 55% higher than the prior-year quarter's $0.29 per share. (The prior-year quarter included -$0.12 per share in earnings from discontinued operations.) GAAP EPS of $0.34 for Q1 were 127% higher than the prior-year quarter's $0.15 per share. (The prior-year quarter included -$0.12 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 45.6%, 650 basis points better than the prior-year quarter. Operating margin was 13.9%, 130 basis points better than the prior-year quarter. Net margin was 8.5%, 390 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $419.2 million. On the bottom line, the average EPS estimate is $0.47.
Next year's average estimate for revenue is $1.59 billion. The average EPS estimate is $1.71.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 175 members out of 210 rating the stock outperform, and 35 members rating it underperform. Among 79 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 71 give CoreLogic a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CoreLogic is outperform, with an average price target of $30.40.
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