Plus   Neg

Black Knight Q4 Profit Down; To Buy Back Up To 10 Mln Shares

Black Knight Inc. (BKI), a provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, reported that its net earnings for the fourth quarter of 2019 decreased 70% to $12.9 million from $42.8 million in the prior year quarter. Earnings per share decreased 69% to $0.09 from $0.29 last year.

The effect of indirect investment in the Dun and Bradstreet was a reduction of net earnings of $36.1 million, or $0.24 per share, primarily due to the effect of their purchase accounting adjustments, restructuring charges and other non-operating charges.

Adjusted earnings per share for the fourth quarter of 2019 increased 8% to $0.54 per diluted share compared to $0.50 per diluted share in the prior year quarter.

Revenues for the fourth quarter of 2019 increased 5% to $300.1 million from $285.4 million in the prior year quarter. Adjusted revenues for the fourth quarter increased 5% to $300.2 million from $285.6 million in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.48 per share and revenues of $301.56 million. Analysts' estimates typically exclude special items.

For 2020, the company expects adjusted earnings per share to be in the range of $1.97 to $2.06; revenues and adjusted revenues of $1.190 billion to $1.214 billion. Wall Street currently is looking for fiscal year 2020 earnings of $2.03 per share on annual revenues of $1.21 billion.

Black Knight said that its board authorized a three-year share repurchase program, effective February 12, 2020, under which the company may repurchase up to 10 million shares.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
JetBlue Airways said it will continue to block middle seats in rows where passengers are not traveling together through the July 4 holiday. JetBue will block middle seats on its Airbus aircraft, while it will block aisle seats on its smaller Embraer 190 aircraft. Customers traveling together will be allowed to sit in the middle and aisle seats. The U.S. Food and Drug Administration or FDA announced on its website that New Hoque and Sons, Inc. is recalling Radhuni Curry Powder distributed in New York City, New York due to potential Salmonella contamination. The recall was made after it was found that the finished products contained several strains of Salmonella, the company said. General Motors is reopening its plants in Mexico after it received approval from the Mexican government to restart operations in the country, according to reports. The automaker had suspended its operations in Mexico in the third week of March due to the coronavirus pandemic. GM's Mexican manufacturing facilities are important as they supply critical parts for its plants in the U.S.
Follow RTT