Last10K.com

Corelogic, Inc. (CLGX) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Corelogic, Inc.

CIK: 36047 Ticker: CLGX
Exhibit 99.1

verticallogo.jpg


CORELOGIC REPORTS THIRD QUARTER 2018 FINANCIAL RESULTS

Outperformance of Market Trends and Cost Management Highlight Strong Underlying Operational Performance; Company Expands Insurance and International Footprint

Irvine, Calif., October 24, 2018
- CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today reported financial results for the quarter ended September 30, 2018. Operating and financial highlights for the third quarter appear below.

Revenues of $452 million were down 6% reflecting the impact of a greater than 15% decline in U.S. mortgage origination unit volumes which more than offset organic growth in the Property Intelligence & Risk Management (PIRM) segment and market outperformance in the Underwriting & Workflow Solutions (UWS) segment.
Operating income totaled $60 million compared with $62 million in the prior year as a 7% reduction in operating expenses largely offset the impact of lower U.S. mortgage market volumes.
Net income from continuing operations decreased $8 million to $23 million after reflecting a $13 million one-time transition tax for certain foreign earnings in connection with the Tax Cuts and Job Act (TCJA).
Diluted EPS from continuing operations were $0.27 compared with $0.36 in the prior year. Adjusted EPS totaled $0.72, in-line with 2017.
Adjusted EBITDA totaled $128 million, 7% below prior year as organic growth and cost productivity were offset by the impact of lower market volumes. Adjusted EBITDA margin was 28%, largely in-line with 2017.
A total of 479,000 common shares were repurchased in the third quarter (1.8 million repurchased year-to-date).
Company to acquire full ownership of Symbility Solutions, Inc. (Symbility), further scaling its insurance vertical and international operations.

“CoreLogic delivered a strong set of operating and financial results in the third quarter and for the first nine months of 2018. Year-to-date, despite a double-digit contraction in U.S. mortgage loan volumes, we grew overall profits, expanded margins and repurchased 2% of our outstanding shares. We achieved these positive results through aggressive cost management, growing our non-mortgage and international footprint, and leveraging benefits attributable to our market leadership in underwriting solutions,” said Frank Martell, President and Chief Executive Officer of CoreLogic.

“The acquisition of Symbility further scales our insurance and international footprint and offers the potential for significant non-cyclical growth in line with our long-term goal of sourcing at least 50% of our revenues from non-U.S. mortgage. Symbility is a leading provider of subscription cloud-based property insurance claims workflow solutions and also provides a growing array of innovative enterprise mobile and application software solutions. Symbility is a great strategic fit for CoreLogic on many levels offering significant future revenue and cost synergies,” Martell added.

Third Quarter Financial Summary
Third quarter revenues totaled $452 million compared with $483 million in the same 2017 period, a decrease of 6%.  PIRM revenues totaled $181 million, equivalent to 2017 as organic growth in property insights, including real estate-related and international operations, as well as contributions from insurance & spatial solutions acquisitions completed in 2017 were offset by the impacts of declining U.S. mortgage loan unit volumes, lower weather event-related revenues and unfavorable foreign currency translation. UWS segment revenues were down 10% to $274 million, driven by lower mortgage market unit volumes and vendor diversification by two key appraisal management clients, which more than offset market outperformance in the segment's property tax, credit and flood operations. UWS revenue also benefited from the scaling of CoreLogic's valuation solutions platform through organic growth and the acquisition of Mercury Network and a la mode technologies.


The following information was filed by Corelogic, Inc. (CLGX) on Wednesday, October 24, 2018 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 Corelogic, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Corelogic, Inc..

Continue

Assess how Corelogic, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Corelogic, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
M & A
Revenue
Legal
Other
Filter Subcategory:
All
Earnings
Expense
Shares
Debt
Product
Income
Other
Inside Corelogic, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Stockholder's Equity (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited) Statement
Condensed Consolidated Statements Of Operations (Unaudited)
Acquisitions
Acquisitions (Details)
Basis Of Condensed Consolidated Financial Statements
Basis Of Condensed Consolidated Financial Statements (Aoci Table) (Details)
Basis Of Condensed Consolidated Financial Statements (Cash, Cash Equivalents And Restricted Cash) (Details)
Basis Of Condensed Consolidated Financial Statements (Cumulative Effect Of Adoption Of New Accounting Standard) (Details)
Basis Of Condensed Consolidated Financial Statements (Impact Of Adoption Of New Accounting Standard On Balance Sheet) (Details)
Basis Of Condensed Consolidated Financial Statements (Impact Of Adoption Of New Accounting Standard On Statement Of Operations) (Details)
Basis Of Condensed Consolidated Financial Statements (Narrative) (Details)
Basis Of Condensed Consolidated Financial Statements (Policies)
Basis Of Condensed Consolidated Financial Statements (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Details)
Fair Value Of Financial Instruments (Tables)
Goodwill, Net
Goodwill, Net (Details)
Goodwill, Net (Tables)
Income Taxes
Income Taxes (Details)
Litigation And Regulatory Contingencies
Litigation And Regulatory Contingencies (Details)
Long-Term Debt
Long-Term Debt (Details)
Long-Term Debt (Narrative) (Details)
Long-Term Debt (Tables)
Operating Revenues
Operating Revenues (Tables)
Operating Revenues - Contract Costs (Details)
Operating Revenues - Contract Liabilities (Details)
Operating Revenues - Operating Revenues By Solution Type (Details)
Operating Revenues - Remaining Performance Obligations (Details)
Operating Revenues - Remaining Performance Obligations Periods (Details)
Other Intangible Assets, Net
Other Intangible Assets, Net (Finite Lived Intangible Asset Future Amortization Expense) (Details)
Other Intangible Assets, Net (Schedule Of Finite-Lived Intangible Assets By Major Class) (Details)
Other Intangible Assets, Net (Tables)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Segment Information
Segment Information (Financial Information) (Details)
Segment Information (Narrative) (Details)
Segment Information (Tables)
Share-Based Compensation
Share-Based Compensation (Compensation Expense) (Details)
Share-Based Compensation (Narrative) (Details)
Share-Based Compensation (Options) (Details)
Share-Based Compensation (Pbrsu Weighted Average Assumptions) (Details)
Share-Based Compensation (Pbrsu) (Details)
Share-Based Compensation (Restricted Stock Units) (Details)
Share-Based Compensation (Tables)

Material Contracts, Statements, Certifications & more

Corelogic, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CLGX
CIK: 36047
Form Type: 10-Q Quarterly Report
Accession Number: 0000036047-18-000115
Submitted to the SEC: Thu Oct 25 2018 2:07:42 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Computer Processing And Data Preparation

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/clgx/0000036047-18-000115.htm