Vantiv Inc. has revised its full-year outlook, reported second-quarter earnings and set guidance for the third quarter.
The company expects net revenue in the third quarter to be between $544 million and $554 million and sees GAAP net income per share attributable to the company to being between 41 cents and 43 cents. Pro forma adjusted net income per share is expected to be between 88 cents and 90 cents for the quarter.
The S&P Capital IQ consensus normalized EPS estimate for the third quarter is 86 cents.
For the full year, Vantiv raised its net revenue outlook to $2.10 billion to $2.12 billion from the prior range of $2.08 billion to $2.12 billion. The company's outlook for GAAP net income per share attributable to the company for the year was lowered to a range of $1.31 to $1.36 from the previous guidance of $1.51 to $1.58. Pro forma adjusted net income per share is now expected to be between $3.31 and $3.36, up from the prior guidance of $3.22 to $3.29.
The S&P Capital IQ consensus normalized EPS estimate for the year is $3.27.
Vantiv reported second-quarter net income attributable to the company of $68.8 million, or 42 cents per share, up from $59.3 million, or 38 cents per share, in the prior-year period.
The company's pro forma adjusted net income for the quarter was $164.7 million, or 83 cents per share, compared with $138.4 million, or 70 cents per share, in the second quarter of 2016.
The S&P Capital IQ consensus normalized EPS estimate for the quarter was 82 cents.