We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Green Dot (GDOT) Stock Appreciates 7.7% on Q4 Earnings Beat
Read MoreHide Full Article
Green Dot Corporation (GDOT - Free Report) reported strong fourth-quarter 2022 results, wherein both earnings and revenues beat the respective Zacks Consensus Estimate. The better-than-expected results appeared to have pleased investors as the stock has gained 7.7% since the earnings release on Feb 23.
Quarterly non-GAAP earnings of 34 cents per share beat the consensus estimate by 54.6% and increased 25.9% on a year-over-year basis. Non-GAAP operating revenues of $336.6 million beat the consensus mark by 5.1% and increased 1.8% year over year.
GDOT shares have declined 22.8% over the past year against the 0.7% growth of the industry it belongs to.
The Consumer Services segment’s revenues came in at $141.3 million, down 12.1% from the year-ago quarter’s level. The B2B Services segment’s revenues of $158.8 million increased 30.3% year over year. Money Movement Services segment’s revenues were down 12.4% year over year to $33.1 million.
Key Metrics
Gross dollar volume increased 22.4% year over year to $20 billion. Purchase volume fell 10.9% from the prior-year quarter’s level to $6.3 billion. GDOT ended the quarter with 4.15 million active accounts, down 18.1% year over year.
Operating Results
Adjusted EBITDA of $35.4 million increased 3% on a year-over-year basis. Adjusted EBITDA margin of 10.5% was down from the year-ago quarter’s level of 10.7%.
Balance Sheet
Green Dot exited the quarter with an unrestricted cash and cash equivalents balance of $813.9 million compared with $813.2 million reported at the end of the prior quarter. GDOT had no long-term debt. It generated $25.6 million in cash from operating activities in the quarter.
2023 Guidance
GDOT expects non-GAAP EPS to be in the range of $1.77-$1.93, below the current Zacks Consensus Estimate of $2.07 per share.
GDOT anticipates non-GAAP total operating revenues to be between $1.376 billion and $1.462 billion. The midpoint ($1.419 billion) of the guided range is above the Zacks Consensus Estimate of $1.41 billion. The company’s expected range for adjusted EBITDA is $180-$190 million
Green Dot currently carries a Zacks Rank #3 (Hold).
Recent Performance of Some Other Business Services Companies
Robert Half International Inc. (RHI - Free Report) reported mixed fourth-quarter 2022 results, wherein earnings beat the Zacks Consensus Estimate but revenues missed the same.
RHI’s quarterly earnings of $1.37 per share beat the Zacks Consensus Estimate by 1.5% but declined 9.3% year over year. Revenues of $1.73 billion missed the Zacks Consensus Estimate by 0.6% and decreased 2.4% year over year.
Automatic Data Processing, Inc. (ADP - Free Report) reported better-than-expected second-quarter fiscal 2023 results.
ADP’s adjusted earnings per share of $1.96 beat the Zacks Consensus Estimate by 0.5% and grew 19% from the year-ago fiscal quarter. Total revenues of $4.4 billion beat the Zacks Consensus Estimate by 0.3% and improved 9.1% from the year-ago fiscal quarter.
Booz Allen Hamilton Holding Corp. (BAH - Free Report) reported impressive third-quarter fiscal 2023 results, wherein both earnings and revenues beat the respective Zacks Consensus Estimate. Quarterly adjusted earnings per share of $1.07 beat the Zacks Consensus Estimate by 4.9% and increased 4.9% on a year-over-year basis.
BAH’s total revenues of $2.3 billion beat the Zacks Consensus Estimate by 4% and increased 12.1% on a year-over-year basis.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Green Dot (GDOT) Stock Appreciates 7.7% on Q4 Earnings Beat
Green Dot Corporation (GDOT - Free Report) reported strong fourth-quarter 2022 results, wherein both earnings and revenues beat the respective Zacks Consensus Estimate. The better-than-expected results appeared to have pleased investors as the stock has gained 7.7% since the earnings release on Feb 23.
Quarterly non-GAAP earnings of 34 cents per share beat the consensus estimate by 54.6% and increased 25.9% on a year-over-year basis. Non-GAAP operating revenues of $336.6 million beat the consensus mark by 5.1% and increased 1.8% year over year.
GDOT shares have declined 22.8% over the past year against the 0.7% growth of the industry it belongs to.
Green Dot Corporation Price
Green Dot Corporation price | Green Dot Corporation Quote
Segmental Revenues
The Consumer Services segment’s revenues came in at $141.3 million, down 12.1% from the year-ago quarter’s level. The B2B Services segment’s revenues of $158.8 million increased 30.3% year over year. Money Movement Services segment’s revenues were down 12.4% year over year to $33.1 million.
Key Metrics
Gross dollar volume increased 22.4% year over year to $20 billion. Purchase volume fell 10.9% from the prior-year quarter’s level to $6.3 billion. GDOT ended the quarter with 4.15 million active accounts, down 18.1% year over year.
Operating Results
Adjusted EBITDA of $35.4 million increased 3% on a year-over-year basis. Adjusted EBITDA margin of 10.5% was down from the year-ago quarter’s level of 10.7%.
Balance Sheet
Green Dot exited the quarter with an unrestricted cash and cash equivalents balance of $813.9 million compared with $813.2 million reported at the end of the prior quarter. GDOT had no long-term debt. It generated $25.6 million in cash from operating activities in the quarter.
2023 Guidance
GDOT expects non-GAAP EPS to be in the range of $1.77-$1.93, below the current Zacks Consensus Estimate of $2.07 per share.
GDOT anticipates non-GAAP total operating revenues to be between $1.376 billion and $1.462 billion. The midpoint ($1.419 billion) of the guided range is above the Zacks Consensus Estimate of $1.41 billion. The company’s expected range for adjusted EBITDA is $180-$190 million
Green Dot currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Recent Performance of Some Other Business Services Companies
Robert Half International Inc. (RHI - Free Report) reported mixed fourth-quarter 2022 results, wherein earnings beat the Zacks Consensus Estimate but revenues missed the same.
RHI’s quarterly earnings of $1.37 per share beat the Zacks Consensus Estimate by 1.5% but declined 9.3% year over year. Revenues of $1.73 billion missed the Zacks Consensus Estimate by 0.6% and decreased 2.4% year over year.
Automatic Data Processing, Inc. (ADP - Free Report) reported better-than-expected second-quarter fiscal 2023 results.
ADP’s adjusted earnings per share of $1.96 beat the Zacks Consensus Estimate by 0.5% and grew 19% from the year-ago fiscal quarter. Total revenues of $4.4 billion beat the Zacks Consensus Estimate by 0.3% and improved 9.1% from the year-ago fiscal quarter.
Booz Allen Hamilton Holding Corp. (BAH - Free Report) reported impressive third-quarter fiscal 2023 results, wherein both earnings and revenues beat the respective Zacks Consensus Estimate. Quarterly adjusted earnings per share of $1.07 beat the Zacks Consensus Estimate by 4.9% and increased 4.9% on a year-over-year basis.
BAH’s total revenues of $2.3 billion beat the Zacks Consensus Estimate by 4% and increased 12.1% on a year-over-year basis.