Benefitfocus (BNFT) Tops Q1 EPS by 12c

Benefitfocus (NASDAQ: BNFT) reported Q1 EPS of $0.01, $0.12 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $65.1 million versus the consensus estimate of $60.25 million.

“Our first quarter results demonstrate that successful execution around our core enrollment platform is creating a stronger foundation for our business and is leading to improved results,” said Steve Swad, president and chief executive officer of Benefitfocus. “Commercial traction with our employer customers is pacing well as demonstrated by some key wins in the quarter including a global software company and one of the nation's largest convenience stores. Software revenue retention has also improved as we continue to make delivering excellence for our customers job number one”.

“We are pleased to report results that exceeded all first quarter guidance metrics,” said Alpana Wegner, chief financial officer. “Our focus on operational excellence is resulting in continued free cash flow and margin expansion. Our second quarter selling season is also off to a good start, which is a key driver for our return to growth next year.”

GUIDANCE:

Benefitfocus sees Q2 2021 EPS of ($0.16)-($0.10), versus the consensus of $0.11. Benefitfocus sees Q2 2021 revenue of $58-60 million, versus the consensus of $59.22 million.

Benefitfocus sees FY2021 revenue of $254-260 million, versus the consensus of $257.28 million.

For earnings history and earnings-related data on Benefitfocus (BNFT) click here.

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