Bankrate (RATE) Tops Q3 EPS by 3c; Will Sell insuranceQuotes Unit
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Credit Card Segment Drives Record Third Quarter 2015 Financial Results
November 5, 2015 4:30 PM ESTNEW YORK, Nov. 5, 2015 /PRNewswire/ --
Third quarter revenue of $140.8 million GAAP Net Loss of $23.4 million, representing loss per share of $0.23 Adjusted EBITDA in the quarter up 10% year over year to a record $39.9 million for Q3 Adjusted Net Income of $19.9 million, representing Adjusted EPS of $0.19 Continued strength in the Credit Cards segment: Â Consumer Inquiry Revenue up 61% year over year and segment EBITDA up 37% Increases Full Year 2015 Revenue Guidance to $545 to $550 million Increases Full Year 2015 Adjusted EBITDA Guidance to $153 to $155 million Q4 2015 Revenue Guidance of $130 to $135 million... MoreGenstar Capital-Backed All Web Leads Acquires Bankrate, Inc.'s Insurance Division
November 5, 2015 4:13 PM ESTAUSTIN, Texas, Nov. 5, 2015 /PRNewswire/ --Â All Web Leads (AWL), a Genstar Capital portfolio company and the premier customer acquisition marketing company focused on the U.S. insurance industry, announced today the signing of a definitive agreement to acquire insuranceQuotes.com, Bankrate, Inc.'s (NYSE: RATE) insurance division. The total transaction purchase price is $165 million and the transaction is expected to close by the end of the year.
insuranceQuotes.com, formerly known as... More
Bankrate Reaches Agreement to Sell Insurance Business
November 5, 2015 4:01 PM ESTNEW YORK, Nov. 5, 2015 /PRNewswire/ -- Bankrate, Inc. (NYSE: RATE) has reached an agreement to sell its insurance business ("insuranceQuotes") to All Web Leads, Inc., a portfolio company of Genstar Capital Partners. The transaction is subject to certain closing conditions and is expected to close by December 31, 2015.
The insuranceQuotes business will continue normal operations throughout this process.
"This transaction is a win-win outcome for both parties," said Kenneth S. Esterow, President and CEO of Bankrate, Inc. "The sale will allow Bankrate to focus its energy and resources on the... More
