CoreLogic Earnings: Here’s Why the Stock is Rising Now

CoreLogic, Inc. (NYSE:CLGX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.42%.

CoreLogic, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share were the same at $0.46 in the quarter as EPS of $0.46 in the year-earlier quarter.

Revenue: Rose 9.81% to $427 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: CoreLogic, Inc. reported adjusted EPS income of $0.46 per share. By that measure, the company beat the mean analyst estimate of $0.45. It beat the average revenue estimate of $412.26 million.

Quoting Management: “CoreLogic delivered outstanding financial results in the second quarter and first half of 2013. Our MOS and D&A segments continue to grow at double-digit rates through a combination of product and service innovation, operating leverage and market share gains,” said Anand Nallathambi, President and Chief Executive Officer of CoreLogic. “Importantly for the future, we continue to aggressively reinvest in strategic growth areas and our technology transformation initiative. The acquisition of MSB and DataQuick, once it closes, will expand our footprint in property and casualty insurance and add additional scale to our D&A segment. We are also excited to be able to provide flood and tax processing services to Bank of America in line with our long-stated business imperative of driving scale and operating leverage in our MOS segment.”

Key Stats (on next page)…

Revenue increased 6.55% from $400.74 million in the previous quarter. EPS increased 2.22% from $0.45 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.47 to a profit $0.45. For the current year, the average estimate has moved up from a profit of $1.70 to a profit of $1.77 over the last ninety days.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

More Articles About:   , , , ,  

More from The Cheat Sheet