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.