Green Dot Corporation (GDOT - Free Report) delivered mixed fourth-quarter 2021 results, with earnings missing the Zacks Consensus Estimate and revenues beating missing the same.
Green Dot stock fell 7.6% since the date of the earnings release on Feb 24, in response to weak 2022 earnings guidance. Green Dot expects its full-year non-GAAP earnings per share (EPS) to be between $2.22 and $2.35. The midpoint of the guidance ($2.285) is below the current Zacks Consensus Estimate of $2.61.
Quarterly earnings (excluding 46 cents from non-recurring items) of 27 cents per share missed the consensus estimate by 10% and decreased 12.9%% on a year-over-year basis. Non-GAAP operating revenues of $321.2 million surpassed the consensus mark by 4.9% and increased 13% year over year.
Segmental Revenues
The Consumer Services segment’s revenues came in at $160.8 million, up 4.2% from the year-ago quarter’s level.
The B2B Services segment’s revenues of $121.8 million increased 58% year over year.
Money Movement Services segment’s revenues were down 17.4% year over year to $37.8 million.
Key Metrics
Gross dollar volume increased 14% year over year to $16.4 billion. Purchase volume rose 3% from the prior-year quarter’s level to $7.1 billion. The company ended the quarter with 5.07 million active accounts, down 7% year over year.
Operating Results
Adjusted EBITDA of $34.4 million dropped 1.2% on a year-over-year basis. Adjusted EBITDA margin of 10.7% was down from the year-ago quarter’s level of 12.7%.
Balance Sheet
Green Dot exited the fourth quarter with unrestricted cash, cash equivalents balance of $1.32 billion compared with $1.8 billion witnessed at the end of the prior quarter. The company had no long-term debt. Green Dot generated $15.3 million of cash from operating activities and capex was $17.8 million.
Currently, Green Dot carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
2022 Guidance
Non-GAAP total operating revenues are currently anticipated between $1.394 billion and $1.430 billion. The midpoint ($1.412 billion) of the guidance is slightly below the current Zacks Consensus Estimate of $1.42 billion.
Adjusted EBITDA is expected in the band of $225-$235 million.
Sectorial Snapshot
Robert Half International (RHI - Free Report) reported impressive third-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate. Quarterly earnings of $1.53 per share beat the consensus mark by 9.3% and soared 100% year over year.
Revenues of $1.71 billion surpassed the consensus mark by 4% and increased 44% year over year on a reported basis and 43% on an as-adjusted basis. RHI currently sports a Zacks Rank #1.
Automatic Data Processing (ADP - Free Report) recently reported better-than-expected second-quarter fiscal 2022 results. Adjusted earnings per share of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
Total revenues of $4.03 billion beat the consensus mark by 1.1% and rose 9% year over year. ADP currently carries a Zacks Rank #2 (Buy).
Rollins (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same. Adjusted earnings of 14 cents per share met the Zacks Consensus Estimate and increased 7.7% year over year.
Revenues of $600.3 million beat the consensus mark by 3.3% and rose 11.9% year over year. ROL currently carries a Zacks Rank #2.
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Green Dot Corporation (GDOT - Free Report) delivered mixed fourth-quarter 2021 results, with earnings missing the Zacks Consensus Estimate and revenues beating missing the same.
Green Dot stock fell 7.6% since the date of the earnings release on Feb 24, in response to weak 2022 earnings guidance. Green Dot expects its full-year non-GAAP earnings per share (EPS) to be between $2.22 and $2.35. The midpoint of the guidance ($2.285) is below the current Zacks Consensus Estimate of $2.61.
Quarterly earnings (excluding 46 cents from non-recurring items) of 27 cents per share missed the consensus estimate by 10% and decreased 12.9%% on a year-over-year basis. Non-GAAP operating revenues of $321.2 million surpassed the consensus mark by 4.9% and increased 13% year over year.
Segmental Revenues
The Consumer Services segment’s revenues came in at $160.8 million, up 4.2% from the year-ago quarter’s level.
The B2B Services segment’s revenues of $121.8 million increased 58% year over year.
Money Movement Services segment’s revenues were down 17.4% year over year to $37.8 million.
Key Metrics
Gross dollar volume increased 14% year over year to $16.4 billion. Purchase volume rose 3% from the prior-year quarter’s level to $7.1 billion. The company ended the quarter with 5.07 million active accounts, down 7% year over year.
Operating Results
Adjusted EBITDA of $34.4 million dropped 1.2% on a year-over-year basis. Adjusted EBITDA margin of 10.7% was down from the year-ago quarter’s level of 12.7%.
Balance Sheet
Green Dot exited the fourth quarter with unrestricted cash, cash equivalents balance of $1.32 billion compared with $1.8 billion witnessed at the end of the prior quarter. The company had no long-term debt. Green Dot generated $15.3 million of cash from operating activities and capex was $17.8 million.
Currently, Green Dot carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
2022 Guidance
Non-GAAP total operating revenues are currently anticipated between $1.394 billion and $1.430 billion. The midpoint ($1.412 billion) of the guidance is slightly below the current Zacks Consensus Estimate of $1.42 billion.
Adjusted EBITDA is expected in the band of $225-$235 million.
Sectorial Snapshot
Robert Half International (RHI - Free Report) reported impressive third-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate. Quarterly earnings of $1.53 per share beat the consensus mark by 9.3% and soared 100% year over year.
Revenues of $1.71 billion surpassed the consensus mark by 4% and increased 44% year over year on a reported basis and 43% on an as-adjusted basis. RHI currently sports a Zacks Rank #1.
Automatic Data Processing (ADP - Free Report) recently reported better-than-expected second-quarter fiscal 2022 results. Adjusted earnings per share of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
Total revenues of $4.03 billion beat the consensus mark by 1.1% and rose 9% year over year. ADP currently carries a Zacks Rank #2 (Buy).
Rollins (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same. Adjusted earnings of 14 cents per share met the Zacks Consensus Estimate and increased 7.7% year over year.
Revenues of $600.3 million beat the consensus mark by 3.3% and rose 11.9% year over year. ROL currently carries a Zacks Rank #2.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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