Navigant Consulting Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Reaffirms Earnings Guidance for the Year 2017
For the nine months, the company announced total revenues of $776,959,000 compared to $768,379,000 for the same period a year ago. Operating income was $53,500,000 compared to $73,878,000 for the same period a year ago. Income before income tax expense was $49,531,000 compared to $71,123,000 for the same period a year ago. Net income was $31,832,000 or $0.66 per diluted share compared to $44,594,000 or $0.91 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $33,519,000 compared to $55,631,000 for the same period a year ago. Purchases of property and equipment were $30,729,000 compared to $13,464,000 for the same period a year ago. EBITDA was $82,254,000 compared to $103,173,000 for the same period a year ago. Adjusted EBITDA was $93,521,000 compared to $107,520,000 for the same period a year ago. Adjusted net income was $38,683,000 compared to $47,342,000 for the same period a year ago. Adjusted earnings per share were $0.80 compared to $0.97 for the same period a year ago. Free cash flow was $41,035,000 against $70,884,000 a year ago.
The company affirms its revised 2017 financial outlook, which was previously provided in conjunction with second quarter 2017 earnings. Full year 2017 RBR is expected to range between $955 million and $980 million while 2017 total revenue is estimated to be between $1.04 billion and $1.065 billion. Adjusted EBITDA for the full year 2017 is expected to range between $135 and $145 million and adjusted EPS for the full year 2017 is estimated to be between $1.19 and $1.29.