On Friday, Blucora, Inc. (NASDAQ: BCOR) closed with gain/decline of -3.10 percent to $33.11. Recent traded volume was 189,817 shares versus to it an average volume of 382,678 shares. The company holds 47.64M shares outstanding and market cap of 1.577B. The stock day range was recorded between a low of $32.95 and a high $34.46. The one year high of the company is $41.35 and the one year low is $19.05.
Blucora, Inc. (BCOR) recently reported financial results for the second quarter ended June 30, 2018.
Second Quarter Highlights and Recent Developments
- Raised revenue and operating income by 13% and 29%, respectively, year-over-year (y/y)
- Grew TaxAct revenue by 17% y/y for the first half of 2018, with 57.3% section margin
- Posted record level of advisory assets (formerly referred to as assets under management) at HD Vest of $12.9B, or 28.8% of total client assets (formerly referred to as assets under administration)
- Achieved 1.5x net leverage ratio on continued strong cash generation and debt reduction
“Strong tax preparation results helped drive continued double-digit growth in revenue and earnings with healthy cash flow,” stated John Clendening, Blucora’s President and Chief Executive Officer. “We once again utilized that cash flow to reduce debt, further strengthen our balance sheet and accelerate earnings growth. Our wealth management business also continued its upward momentum demonstrating strong revenue growth and record asset levels.”
Third Quarter and Full Year 2018 Outlook
- For the third quarter of 2018, the Company expects revenues to be between $92.0M and $95.5M, GAAP net loss attributable to Blucora, Inc. to be between $18.5M and $22.5M, or $0.39 to $0.47 per diluted share, Adjusted EBITDA loss to be between $2.0M and $5.0M, and Non-GAAP net loss to be between $8.0M and $11.0M, or $0.17 to $0.23 per diluted share.
- For the full year 2018, the Company expects revenues to be between $553.5M and $563.0M, GAAP net income attributable to Blucora, Inc. to be between $42.5M and $46.0M, or $0.86 to $0.93 per diluted share, Adjusted EBITDA to be between $114.5M and $119.5M, and Non-GAAP net income to be between $89.0M and $94.5M, or $1.80 to $1.92 per diluted share.
- The third quarter and fiscal 2018 outlook for GAAP net income or loss attributable to Blucora assumes an estimated tax rate of about 2% to 6%.
The company plunged -0.18 percent in past week and declined -8.91 percent in one month. During the past three month period the stock dropped -10.87 percent and increased 26.37 percent in past six month. During the twelve month it added 32.71 percent and year to date performance of 49.82 percent.