LONDON, UK / ACCESSWIRE / December 15, 2017 / Active-Investors free earnings report on The Priceline Group Inc. (NASDAQ: PCLN) ("Priceline") has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/'symbol=PCLN. The Company posted its financial results on November 06, 2017, for the third quarter of the fiscal year 2017. The online travel Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, The Priceline Group most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
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Earnings Highlights and Summary
For the three months ended September 30, 2017, Priceline's total revenues increased 20.1% to $4.43 billion from $3.69 billion in Q3 FY16. The Company's total revenue numbers surpassed analysts' expectations of $4.35 billion.
For the reported quarter, the Company's gross bookings increased 17.9% to $21.76 billion from $18.46 billion in Q3 FY16. For the reported quarter, the Company's room nights sold increased 18.6% to 177.5 million from 149.6 million in Q3 FY16. For the reported quarter, the Company's airline tickets decreased 11.8% to 1.7 million from 1.9 million in Q3 FY16.
During Q3 FY17, Priceline's gross profit increased 21.9% to $4.37 billion from $3.59 billion in the same period of last year. For the reported quarter, the Company's gross margin increased 140 basis points to 98.7% of revenue from 97.3% of revenue in the third quarter of last year.
During Q3 FY17, Priceline's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 18.4% to $2.19 billion from $1.85 billion in the comparable period of last year. For the reported quarter, the Company's adjusted EBITDA margin decreased 80 basis points to 49.3% of revenue from 50.1% of revenue in the third quarter of last year.
During Q3 FY17, Priceline's operating income increased 152.2% to $2.10 billion from $833.23 million in the corresponding period of last year. For the reported quarter, the Company's operating margin increased 2,480 basis points to 47.4% of revenue from 22.6% of revenue in the third quarter of last year.
During Q3 FY17, Priceline's earnings before tax (EBT) increased 159.2% to $2.07 billion from $797.53 million in the same period of last year. For the reported quarter, the Company's EBT margin increased 2,500 basis points to 46.6% of revenue from 21.6% of revenue in the third quarter of last year.
For the reported quarter, Priceline's net income increased 240% to $1.72 billion on a y-o-y basis from $506.02 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) increased 239.9% to $34.43 on a y-o-y basis from $10.13 in the comparable period of last year. For the reported quarter, Priceline's adjusted net income increased 18.6% to $1.76 billion on a y-o-y basis from $1.48 billion in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 18.6% to $35.22 on a y-o-y basis from $29.69 in Q3 FY16, surpassing analysts' expectations of $34.31.
Balance Sheet
As on September 30, 2017, Priceline's cash and cash equivalents increased 36.8% to $2.85 billion from $2.08 billion as on December 31, 2016. For the reported quarter, the Company's long-term debt increased 41.4% to $8.73 billion from $6.17 billion in Q4 FY16.
During Q3 FY17, Priceline's net accounts receivable increased 67.2% to $1.44 billion from $860.12 million in Q4 FY16. For the reported quarter, the Company's accounts payable increased 92.3% to $805.74 million from $419.11 million in Q4 FY16.
In the first nine months of 2017, the Company's cash provided by operating activities increased 20.8% to $3.49 billion from $2.89 billion in the corresponding period of last year.
Outlook
For Q4 FY17, the Company expects adjusted net income to be in the range of $665 million - $695 million, and adjusted diluted EPS to be in the band of $13.40 - $14.00. Priceline estimates adjusted EBITDA to be in the range of $870 million - $910 million for Q4 FY17.
Stock Performance Snapshot
December 14, 2017 - At Thursday's closing bell, The Priceline Group's stock climbed 1.05%, ending the trading session at $1760.92.
Volume traded for the day: 454.71 thousand shares.
Stock performance in the last month - up 2.41%; past twelve-month period - up 15.21%; and year-to-date - up 20.11%
After yesterday's close, The Priceline Group's market cap was at $86.36 billion.
Price to Earnings (P/E) ratio was at 24.67.
The stock is part of the Services sector, categorized under the Business Services industry.
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