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Green Dot raises guidance for FY'17

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Green Dot raises guidance for FY'17

Green Dot Corp. updated its fiscal year 2017 guidance and issued its outlook for the third quarter.

The company expects third-quarter total operating revenues to be in the range of $187 million to $189 million, adjusted EBITDA to be $28 million to $30 million and non-GAAP EPS to be about 25 cents.

The S&P Capital IQ adjusted normalized EPS estimate for the period is 29 cents.

Green Dot now expects full-year 2017 total operating revenues to range from $855 million to $865 million, an increase from previous guidance of $830 million to $845 million. Adjusted EBITDA for the year is anticipated to be $194 million to $196 million, adjusted upward from previous guidance of $187 million to $192 million. Non-GAAP EPS is now expected to be between $1.99 and $2.03, versus previous guidance of $1.89 to $1.94.

The S&P Capital IQ consensus normalized EPS estimate for the year is $1.95.

For the second quarter, the company reported net income of $19.3 million, or 37 cents per share, versus $8.0 million, or 16 cents per share, the previous year.

Non-GAAP net income was $29.0 million, or 55 cents per share, compared with $14.1 million, or 27 cents per share, a year ago.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 40 cents.