Exhibit 99.1
CoreLogic Raises Full Year 2020 Financial Guidance and Provides Guidance for 2021 and 2022
Expects Full Year 2020 Financial Results to Materially Exceed
Previously Issued Revenue, EBITDA and EPS Guidance Ranges
Strong 2021 and 2022 Guidance Underscores Confidence in Strategic Initiatives
IRVINE, CA, July 7, 2020 — CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today announced increased financial guidance for the full year 2020 and provided 2021 and 2022 financial guidance, as summarized below.
CoreLogic expects full year 2020 financial results to materially exceed previously issued revenue, adjusted EBITDA and adjusted EPS guidance ranges, driven principally by continued market share gains and operating leverage.
Updated FY 2020 Financial Guidance:
| | | | |
$ in millions except adjusted EPS | | Previous Guidance | | Updated Guidance |
Revenue | | $1,690 - $1,730 | | $1,840 - $1,880 |
| | | | |
Adjusted EBITDA(1) | | $500 - $525 | | $565 - $585 |
| | | | |
Adjusted EPS(2) | | $2.80 - $3.00 | | $3.40 - $3.60 |
(1) | Net income from continuing operations adjusted for interest, taxes, depreciation and amortization, share-based compensation, non-operating gains/losses, and other adjustments |
(2) | Diluted income from continuing operations, net of tax per share, adjusted for share-based compensation, amortization of acquisition-related intangibles, non-operating gains/losses, and other adjustments; assumes an effective tax rate of 26% for 2020 |
The updated 2020 guidance builds off multiple quarters of strong results, with CoreLogic beating analyst consensus estimates of revenue, adjusted EPS and adjusted EBITDA for full year 2019 and Q1 2020. The Company recently announced increased revenue and EBITDA guidance for Q2 2020.
CoreLogic today also provided 2021 and 2022 financial guidance, reflecting market share gains and major new business wins as well as latest estimates of housing market activity. The Company is confident in its ability to deliver significant value to shareholders by continuing to execute its strategic initiatives and enhance its competitive positioning.
2021 and 2022 Financial Guidance:
| | | | |
$ in millions | | 2021 | | 2022 |
Target Revenue | | $1,910 - 1,950 | �� | $2,000 - 2,040 |
Targeted Adjusted EBITDA | | $595 - 615 | | $630 - 650 |
| | | | |
About CoreLogic
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy, and protect their homes. For more information, please visit www.corelogic.com.