Envestnet, Inc. (ENV - Free Report) has strong asset-based and subscription-based recurring revenue generation capacity. The company continues to focus on technology development to improve operational efficiency and increase market competitiveness.
Envestnet reported mixed second-quarter 2023 results with earnings beating the Zacks Consensus Estimate but revenues missing the same. Adjusted earnings (excluding 85 cents from non-recurring items) came in at 46 cents per share, matching the consensus estimate but decreasing 6.1% from the year-ago figure. Total revenues of $312.43 million missed the consensus estimate by 0.85%. Revenues decreased 2% on a year-over-year basis.
Factors in Favor
In recent years, Envestnet has demonstrated a robust capacity for generating recurring revenues, primarily driven by its asset-based and subscription-based business models. The company serves financial services clients through a business-to-business-to-consumer approach, thus enabling these clients to offer Envestnet's platform-based solutions to their end users. Moreover, on a business-to-business level, Envestnet provides an open platform to customers and third-party developers through an open API framework. Envestnet's recurring revenues have displayed consistent growth, with a 4.5% year-over-year increase in 2022, following impressive gains of 20.2% in 2021 and 10.2% in 2020.
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Envestnet, Inc. (ENV - Free Report) has strong asset-based and subscription-based recurring revenue generation capacity. The company continues to focus on technology development to improve operational efficiency and increase market competitiveness.
Envestnet reported mixed second-quarter 2023 results with earnings beating the Zacks Consensus Estimate but revenues missing the same. Adjusted earnings (excluding 85 cents from non-recurring items) came in at 46 cents per share, matching the consensus estimate but decreasing 6.1% from the year-ago figure. Total revenues of $312.43 million missed the consensus estimate by 0.85%. Revenues decreased 2% on a year-over-year basis.
Factors in Favor
In recent years, Envestnet has demonstrated a robust capacity for generating recurring revenues, primarily driven by its asset-based and subscription-based business models. The company serves financial services clients through a business-to-business-to-consumer approach, thus enabling these clients to offer Envestnet's platform-based solutions to their end users. Moreover, on a business-to-business level, Envestnet provides an open platform to customers and third-party developers through an open API framework. Envestnet's recurring revenues have displayed consistent growth, with a 4.5% year-over-year increase in 2022, following impressive gains of 20.2% in 2021 and 10.2% in 2020.
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Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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