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Envestnet provides Q3, FY'19 guidance

Envestnet Inc. provided guidance for the third quarter and full-year 2019.

The company expects total revenue to be between $229.5 million and $232.5 million for the third quarter.

Adjusted EBITDA is expected to be in the range of $54.0 million to $54.5 million. The adjusted net income per diluted share is expected to be 58 cents.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter is 58 cents.

For full-year 2019, total revenue is projected to be between $888.5 million and $894.5 million, while adjusted EBITDA is expected to be in the range of $191.5 million to $193.0 million.

The adjusted net income per diluted share for full-year 2019 is expected to be between $2.10 and $2.12.

The outlook includes the expected contribution to Envestnet's 2019 financial results of PortfolioCenter, which Envestnet unit Tamarac Inc. acquired in April, and PIETech, a deal Envestnet closed in May.

The S&P Global Market Intelligence consensus normalized EPS estimate for the year is $2.13.

Envestnet posted net income attributable to the company of $893,000, or 2 cents per share, for the second quarter, compared to a net loss of approximately $5.5 million, or 12 cents per share, in the year-ago quarter.