Overview
Altisource Q3 service revenue up 4% yr/yr, driven by business growth and cost discipline
Company's Q3 net loss improves by $7 mln compared to same quarter last year
Adjusted EBITDA for Q3 remains roughly stable despite a slight margin decline
Outlook
Company did not provide specific guidance for future quarters or full year in its press release
Result Drivers
SERVICE REVENUE GROWTH - Altisource's Q3 service revenue increased by 4% yr/yr, attributed to business growth and cost discipline
NEW BUSINESS WINS - Co secured new business expected to generate $14.4 mln in annual service revenue on a stabilized basis
COST DISCIPLINE - Reduction in corporate interest expenses contributed to improved net losses, per CEO William B. Shepro
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
$0.10
Q3 EPS
-$0.22
Q3 Adjusted Net Income
$1.09 mln
Q3 Adjusted EBITDA
$3.62 mln
Q3 Adjusted Operating Income
$2.66 mln
Q3 Adjusted Pretax Profit
$1.31 mln
Press Release: ID:nGNX4YcRdK
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)