Clarivate (NYSE: CLVT) reported Q4 EPS of $0.22, $0.05 better than the analyst estimate of $0.17. Revenue for the quarter came in at $471 million versus the consensus estimate of $472.19 million.

Fourth Quarter and Full Year 2020 Financial Highlights

• 4Q'20 Revenues of $456 million and Adjusted Revenues(1) of $471 million increased 79% and 85%, respectively. Adjusted Revenues exclude the impact of deferred revenues resulting from purchase accounting adjustments primarily related to acquisitions including CPA Global and DRG
• 4Q'20 Net Income of $6 million increased 108% and Adjusted Net Income(1) of $136 million increased 224%
• 4Q'20 Net Income per diluted share of $0.01 increased 104% and Adjusted Income per diluted share(1) (EPS) of $0.22 increased 69%
• 4Q'20 Adjusted EBITDA(1) of $200 million increased 137% and Adjusted EBITDA Margin(1) increased 920 basis points to 42.4%
• Full Year Revenues of $1.254 billion and Adjusted Revenues(1) of $1.277 billion increased 29% and 31%, respectively. Adjusted Revenues exclude the impact of deferred revenues resulting from purchase accounting adjustments primarily related to acquisitions including CPA Global and DRG
• Full Year Net Loss of $106 million improved 50% and Adjusted Net Income(1) of $289 million increased 90%
• Full Year Net Loss per diluted share of $(0.25) improved 68% and Adjusted Income per diluted share(1) (EPS) of $0.64 increased 21%
• Full Year Adjusted EBITDA(1) of $487 million increased 66% and Adjusted EBITDA Margin(1) increased 790 basis points to 38.1%
• Cash Flow from Operations increased $146 million to $264 million; Adjusted Free Cash Flow(1) increased $201 million to $302 million

"We are very proud of what we achieved in 2020 during the challenges of the global pandemic. Our colleagues quickly overcame these challenges by swiftly adapting to a new work environment that served us well and will provide considerable benefits in the years ahead," said Jerre Stead, Executive Chairman and CEO of Clarivate.

"Throughout the year, we made significant progress across our strategic objectives including improving our colleague engagement and customer delight scores. We completed operational improvements, which helped to drive organic growth, and enhanced our IP and Science businesses with two transformative acquisitions. Our growth in the fourth quarter and full year 2020 reflects the benefits of these actions. The team also made tremendous strides with ESG initiatives and we look forward to publishing our first sustainability report in 2021. Given the strength of our core business and the benefits we expect to realize from recent acquisitions, we reaffirmed our 2021 outlook."

GUIDANCE:

Clarivate sees FY2021 EPS of $0.73-$0.79, versus the consensus of $0.76. Clarivate sees FY2021 revenue of $1.78-1.84 million, versus the consensus of $1.8 million.

For earnings history and earnings-related data on Clarivate (CLVT) click here.