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Ellie Mae raises FY'18 guidance, introduces Q3 projections

Ellie Mae Inc. upgraded its guidance for full-year 2018 and released its third-quarter projections.

The mortgage finance platform provider now anticipates 2018 adjusted net income in the range of $64.5 million to $69.5 million, or $1.79 to $1.92 per share, higher than the previous range of $61.0 million to $65.0 million, or $1.68 to $1.78 per share.

The S&P Capital IQ consensus normalized EPS estimate for 2018 is $1.88. Ellie Mae predicted net income of between $19.0 million and $23.0 million, or 53 cents to 64 cents per share, an increase from the prior range of $10.0 million to $14.0 million, or 28 cents to 38 cents per share.

For the third quarter, the company expects adjusted net income of between $18.5 million and $20.5 million, or 52 cents to 57 cents per share.

The S&P Capital IQ consensus normalized EPS estimate for the quarter is 54 cents. Net income is expected to come in at between $4.0 million and $6.0 million, or 11 cents to 17 cents per share.

Ellie Mae disclosed second-quarter adjusted net income of $19.1 million, or 54 cents per share, compared to $18.2 million, or 51 cents, in the year-ago period

The S&P Capital IQ consensus normalized EPS estimate for the quarter is 42 cents. Net income dropped to $9.5 million, or 27 cents per share, from $18.8 million, or 52 cents per share, in the second quarter of 2017.