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Black Knight Revenue Increases 7 Percent in Q3

in Featured, Headlines, News, Technology November 4, 2018 1,753 Views

low income householdsBlack Knight Inc., the Florida-based provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, announced that its revenues for the third quarter of 2018 increased 7 percent to $281.7 million from $263.8 million in the prior year quarter. Net earnings attributable to Black Knight for the third quarter of 2018 were $43 million, or $0.29 per diluted share, compared to $14.7 million, or $0.21 per diluted share, in the prior-year quarter.

"Our third quarter results are reflective of the ongoing strength and momentum of our strategic initiatives across the enterprise," said Bill Foley, Executive Chairman, Black Knight. "In particular, we were able to drive organic growth by winning new clients in existing markets, cross-selling and continuing to develop innovative solutions to enhance Black Knight's leading end-to-end integrated technology, data, and analytics offering."

The company's adjusted net earnings for the third quarter of 2018 increased 31 percent to $71.3 million compared to $54.3 million in the prior year quarter. Its adjusted Net Earnings Per Share for the third quarter of 2018 increased 33 percent to $0.48 per diluted share compared to $0.36 per diluted share in the prior-year quarter.

Adjusted EBITDA for the third quarter of 2018 increased 8 percent to $138.4 million from $128.2 million in the prior-year quarter. Adjusted EBITDA margin was 49 percent, an increase of 60 basis points compared to the prior year quarter.

Black Knight CEO Anthony Jabbour added, "The underlying fundamentals of our business remain strong, and we remain focused on our clients and driving the business to win market share, generate superior returns and create sustainable, long-term shareholder value. We look forward to providing a more comprehensive corporate and strategic update at our upcoming Investor Day, which will be held in New York City on November 19th."

Black Knight's revenues for the nine months ended September 30, 2018, increased 6 percent to $828.6 million from $784.1 million in the 2017 period. Net earnings attributable to Black Knight for the nine months ended September 30, 2018, were $125.7 million, or $0.85 per diluted share, compared to $35.1 million, or $0.51 per diluted share, in the 2017 period.

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About Author: Radhika Ojha

Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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