Navigant Consulting Q2 Profit Surges; Results Beat View - Quick Facts

(RTTNews) - Navigant Consulting Inc. (NCI) reported a surge in profit for the second quarter from last year on higher revenues. Both revenue and adjusted earnings per share for the quarter beat analysts' estimates.

Second-quarter net income was $28.8 million or $0.62 per share, up from $8.8 million or $0.18 per share in the same period last year.

Adjusted earnings per share for the quarter were $0.49, compared to $0.24 in the year-ago period.

Revenue for the quarter grew 7 percent to $275.7 million from $256.8 million in the year-ago period. Revenues before reimbursements or RBR rose 7 percent to $252.4 million from $235.2 million last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.32 per share for the quarter on revenues of $236.09 million. Analysts' estimates typically exclude special items.

Looking ahead, the company provided 2018 financial guidance targets from continuing operations, as well as a preliminary view of 2019 performance, both of which reflect the pending divestiture of the Disputes, Forensics and Legal Technology or DFLT segment and the Transaction Advisory Services or TAS practice, collectively "SaleCo", which comprises discontinued operations, to Ankura Consulting Group, LLC.

For fiscal 2018, the company forecasts revenues from continuing operations between $740 million and $765 million, and adjusted earnings per share from continuing operations between $0.40 and $0.50 per share.

The Street expects earnings of $1.30 per share for the year on revenues of $934.68 million.

For fiscal 2019, the company projects earnings per share growth to be approximately 120 percent and RBR growth to be about 9 percent to 12 percent, both compared to full-year 2018.