Stock Highlights: Gartner, Inc. (NYSE: IT)
On Friday, Gartner, Inc. (NYSE: IT) stock recorded total trading quantity of 669,053 shares as compared to its average volume of 552,449 shares. The firm has a total market worth of $552.45k and $13.281B shares remain outstanding.
Gartner, Inc. (IT), the world’s leading research and advisory company, recently stated results for the second quarter 2018 and updated its GAAP EPS guidance and reiterated its Non-GAAP guidance for full year 2018. Gene Hall, Gartner’s chief executive officer, commented, “We got off to a great start for the year and that continued through the second quarter. The leading indicators across all parts of our business are overwhelmingly positive, and we are well-positioned for sustained, long-term double digit growth.”
THREE MONTHS ENDED JUNE 30, 2018 HIGHLIGHTS
- Revenues: $1.0B, +19%; adjusted revenues not including divested operations: $1.0B, +14%.
- Net income: $46M; adjusted EBITDA not including divested operations: $191M, +11%.
- Diluted EPS: $0.50; adjusted EPS: $1.03.
- Operating cash flow: $174M; free cash flow: $183M.
- Sold several non-core assets for $406M in net cash.
- Repurchased 0.5M ordinary shares for $68M and paid down $554M of debt.
2018 FULL YEAR FINANCIAL OUTLOOK
The Company updated its GAAP EPS guidance and reiterated its Non-GAAP guidance:
- Revenues $3.9-4.0B; adjusted revenues $3.9-4.0B.
- Net income $104-140M; adjusted EBITDA $710-760M.
- Diluted EPS $1.12-1.51; adjusted EPS $3.51-3.91.
- Operating cash flow $425-475M; free cash flow $416-456M.
NON-GAAP FINANCIAL MEASURES
- Certain financial measures used in this Press Release are not defined by generally accepted accounting principles (“GAAP”) and as such are considered non-GAAP financial measures. We provide these measures to enhance the user’s overall understanding of the Company’s current financial performance and the Company’s prospects for the future. Investors are cautioned that these non-GAAP financial measures may not be defined in the same manner by other companies and as a result may not be comparable to other similarly titled measures used by other companies. Also, these non-GAAP financial measures should not be construed as alternatives, or superior, to other measures determined in accordance with GAAP.
The Company’s non-GAAP financial measures are as follows:
- Adjusted Revenue: Represents GAAP revenue plus: (i) revenue for pre-acquisition period(s) from CEB, as applicable; (ii) the amortization of non-cash fair value adjustments on pre-acquisition deferred revenues. The majority of the non-cash fair value adjustments on pre-acquisition deferred revenues is recognized ratably over the remaining period of the underlying revenue contract. We believe Adjusted Revenue is an important measure of our recurring operations as it provides a more accurate period-over-period comparison of trends in revenues, on both a consolidated and section results basis.
In the liquidity ratio analysis; quick ratio for most recent quarter was 0.60 while current ratio for time period was 0.60. In most recent quarter, LT Debt/Equity ratio was listed at 2.33 and Total Debt/Equity ratio was noted at 2.64.
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