- GreenSky (GSKY) gains 7.1% in premarket trading after raising the top end of 2021 guidance for its bottom line and adjusted EBITDA due to tailwinds in funding and credit performance.
- Chairman and CEO David Zalik said he's encouraged by improving consumer credit trends and is "cautiously optimistic that 2021 performance will likely be better than initially estimated."
- Sees net income at ~$0 vs. $39M loss guidance at its investor day presentation; sees adjusted EBITDA of $45M-$55M, up from ~$45M previously.
- Sees adjusted EBITDA margin of 8%-10% vs. prior view of ~8%.
- Still sees 2021 transaction volumes of $6.2B-$6.5B, up from $5.5B in 2020, and 2021 revenue of ~$584M.
- Q4 transaction volume of $1.3B vs. $1.5B in year-ago quarter.
- Q4 EPS of 11 cents beats the average analyst estimate of 4 cents and increased from 3 cents a year ago.
- Q4 revenue of $128.8M beats $124.4M consensus and declined from $135.9M a year ago; transaction fee revenue of $93.9M fell from $100.7M and servicing revenue of $28.2M vs. $33.1M.
- Q4 adjusted EBITDA of $10.2M declined from $23.7M a year earlier.
- Conference call at 9:00 AM ET.
- Previously (March 10): GreenSky EPS beats by $0.04, beats on revenue