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Envestnet's (ENV) Q4 Earnings Beat Estimates, Revenues Up Y/Y
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Envestnet, Inc.(ENV - Free Report) reported solid fourth-quarter 2021 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings per share of 50 cents outpaced the Zacks Consensus Estimate by 2% but declined 27.5% year over year. The reported figure lies above the guidance of 49 cents.
Revenues of $319.6 million surpassed the consensus mark by 2.5% and climbed 21.2% year over year. The reported figure lies above the guided range of $310-$312 million.
Over the past year, shares of Envestnet have gained 12% against 28.3% decline of the industry it belongs to.
Image Source: Zacks Investment Research
Let’s check out the numbers in detail.
Quarterly Numbers in Detail
Adjusted revenues of $319.7 million jumped 21% year over year.
Asset-based recurring revenues of $195.92 million increased 34% year over year, contributing 61% of total revenues. Subscription-based recurring revenues of $118.08 million were up 8% from the prior-year quarter’s level, contributing 37% of total revenues. Professional services and other non-recurring revenues decreased 35% year over year to $5.62 million.
Adjusted EBITDA came in at $56.2 million, down 14% year over year.
Envestnet ended fourth-quarter 2021 with cash and cash equivalent balance of $429.28 million compared with $393.79 million at the end of the prior quarter. Long-term debt was $848.86 million compared with $847.63 million at the end of the prior quarter.
The company generated around $80.6 million of cash from operating activities. CapEx was $7.95 million.
Q1 & 2022 Outlook
For first-quarter 2022, Envestnet expects adjusted earnings per share between 44 and 45 cents. The Zacks Consensus Estimate of 54 cents lies above the guidance.
Total revenues are estimated between $322 million and $325 million. The Zacks Consensus Estimate of $323.33 million lies within the guidance.
The company expects adjusted EBITDA in the band of $52.5-$54.5 million.
For full-year 2022, Envestnet expects adjusted EPS between $2.30 and $2.40. The Zacks Consensus Estimate of $2.50 lies above the guidance.
Total revenues are now anticipated between $1.360 billion and $1.385 billion. The Zacks Consensus Estimate of $1.37 billion lies within the guidance.
The company projects adjusted EBITDA of $270-$280 million.
Robert Half International (RHI - Free Report) delivered impressive fourth-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate.
Robert Half’s quarterly earnings of $1.51 per share beat the consensus mark by 5.6% and rose 79.8% year over year.
Robert Half’s revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis.
ADP’s adjusted earnings per share of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
ADP’s total revenues of $4.03 billion beat the consensus mark by 1.1% and improved 9% year over year on a reported basis as well as on an organic constant-currency basis.
Rollins (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same.
Rollins’ adjusted earnings of 14 cents per share meet the Zacks Consensus Estimate and increased 7.7% year over year.
Rollins’ revenues of $600.3 million beat the consensus mark by 3.3% and improved 11.9% year over year.
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Envestnet's (ENV) Q4 Earnings Beat Estimates, Revenues Up Y/Y
Envestnet, Inc.(ENV - Free Report) reported solid fourth-quarter 2021 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings per share of 50 cents outpaced the Zacks Consensus Estimate by 2% but declined 27.5% year over year. The reported figure lies above the guidance of 49 cents.
Revenues of $319.6 million surpassed the consensus mark by 2.5% and climbed 21.2% year over year. The reported figure lies above the guided range of $310-$312 million.
Over the past year, shares of Envestnet have gained 12% against 28.3% decline of the industry it belongs to.
Image Source: Zacks Investment Research
Let’s check out the numbers in detail.
Quarterly Numbers in Detail
Adjusted revenues of $319.7 million jumped 21% year over year.
Asset-based recurring revenues of $195.92 million increased 34% year over year, contributing 61% of total revenues. Subscription-based recurring revenues of $118.08 million were up 8% from the prior-year quarter’s level, contributing 37% of total revenues. Professional services and other non-recurring revenues decreased 35% year over year to $5.62 million.
Adjusted EBITDA came in at $56.2 million, down 14% year over year.
Envestnet, Inc Price, Consensus and EPS Surprise
Envestnet, Inc price-consensus-eps-surprise-chart | Envestnet, Inc Quote
Envestnet ended fourth-quarter 2021 with cash and cash equivalent balance of $429.28 million compared with $393.79 million at the end of the prior quarter. Long-term debt was $848.86 million compared with $847.63 million at the end of the prior quarter.
The company generated around $80.6 million of cash from operating activities. CapEx was $7.95 million.
Q1 & 2022 Outlook
For first-quarter 2022, Envestnet expects adjusted earnings per share between 44 and 45 cents. The Zacks Consensus Estimate of 54 cents lies above the guidance.
Total revenues are estimated between $322 million and $325 million. The Zacks Consensus Estimate of $323.33 million lies within the guidance.
The company expects adjusted EBITDA in the band of $52.5-$54.5 million.
For full-year 2022, Envestnet expects adjusted EPS between $2.30 and $2.40. The Zacks Consensus Estimate of $2.50 lies above the guidance.
Total revenues are now anticipated between $1.360 billion and $1.385 billion. The Zacks Consensus Estimate of $1.37 billion lies within the guidance.
The company projects adjusted EBITDA of $270-$280 million.
Currently, Envestnet carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Business Services Companies
Robert Half International (RHI - Free Report) delivered impressive fourth-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate.
Robert Half’s quarterly earnings of $1.51 per share beat the consensus mark by 5.6% and rose 79.8% year over year.
Robert Half’s revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis.
Automatic Data Processing (ADP - Free Report) reported better-than-expected second-quarter fiscal 2022 results.
ADP’s adjusted earnings per share of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
ADP’s total revenues of $4.03 billion beat the consensus mark by 1.1% and improved 9% year over year on a reported basis as well as on an organic constant-currency basis.
Rollins (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same.
Rollins’ adjusted earnings of 14 cents per share meet the Zacks Consensus Estimate and increased 7.7% year over year.
Rollins’ revenues of $600.3 million beat the consensus mark by 3.3% and improved 11.9% year over year.