Black Knight Reports First Quarter 2019 Financial Results
Revenues of $283.1 million, an increase of 5%, and Adjusted Revenues of $283.2 million, an increase of 4%
Net earnings of $39.3 million, or $0.27 per diluted share
Adjusted Net Earnings of $65.9 million, or $0.44 per diluted share, an increase of 2%
Adjusted EBITDA of $137.1 million, an increase of 6%, and Adjusted EBITDA Margin of 48.4%, an increase of 50 basis points
JACKSONVILLE, Fla. - May 1, 2019 - Black Knight, Inc. (NYSE: BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced unaudited financial results for the first quarter of 2019.
Revenues for the first quarter of 2019 increased 5% to $283.1 million compared to $270.3 million in the prior year quarter. Net earnings for the first quarter of 2019 were $39.3 million, or $0.27 per diluted share, compared to $42.7 million, or $0.29 per diluted share, in the prior year quarter.
Adjusted Revenues for the first quarter of 2019 increased 4% to $283.2 million compared to $271.2 million in the prior year quarter. Adjusted Net Earnings for the first quarter of 2019 increased 3% to $65.9 million compared to $64.1 million in the prior year quarter. Adjusted EPS for the first quarter of 2019 increased 2% to $0.44 per diluted share compared to $0.43 per diluted share in the prior year quarter.
Adjusted EBITDA for the first quarter of 2019 increased 6% to $137.1 million compared to $129.9 million in the prior year quarter. Adjusted EBITDA Margin was 48.4%, an increase of 50 basis points compared to the prior year quarter.
Black Knight Executive Chairman Bill Foley said, "We had a solid start to 2019 with Adjusted Revenues growth of 4% and Adjusted EBITDA growth of 6%, which drove margin expansion of 50 basis points to 48.4%. We are excited about Black Knight’s momentum across the enterprise. The underlying fundamentals of our business remain strong, and we are on course to achieve the financial targets we have set for 2019."
Black Knight Chief Executive Officer Anthony Jabbour added, "Our first quarter results reflect the consistent execution of our strategy to drive organic growth through expanding relationships with existing clients, adding new clients and the delivery of innovative solutions. Black Knight continues to enhance its leading end-to-end software and data and analytics offering with a focus on helping our clients grow revenue, increase efficiency and remain compliant."
Definitions of non-GAAP financial measures and the reconciliations to the most directly comparable GAAP measures are provided in subsequent sections of the press release narrative and supplemental schedules. Black Knight has not provided a reconciliation of forward-looking Adjusted EPS and Adjusted EBITDA to the most directly comparable GAAP financial measures, due primarily to variability and difficulty in making accurate forecasts and projections of non-operating matters that may arise, as not all of the information necessary for a quantitative reconciliation is available to Black Knight without unreasonable effort.
The following information was filed by Black Knight, Inc. (BKI) on Wednesday, May 1, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Black Knight, Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Black Knight, Inc..
Form Type: 10-Q Quarterly Report Accession Number: 0001627014-19-000020 Submitted to the SEC: Wed May 01 2019 12:45:58 PM EST Accepted by the SEC: Wed May 01 2019 Period: Sunday, March 31, 2019 Industry: Prepackaged Software