CoreLogic Delivers Record Quarterly Revenue and Strong Double Digit Growth in Operating Income, Margins and Cash Flow

CoreLogic, Inc.

Reconciliation of Adjusted EBITDA

(Unaudited)

 

For the Three Months Ended September 30, 2020

(in thousands)

PIRM

UWS

CORP

ELIM

CoreLogic

Net income/(loss) from continuing operations

$

58,325

 

 

$

124,834

 

 

$

(80,692

)

 

$

 

$

102,467

 

 

Income taxes

 

 

 

 

(9,237

)

 

 

(9,237

)

 

Depreciation and amortization

23,474

 

 

12,017

 

 

8,119

 

 

 

43,610

 

 

Interest expense/(income), net

459

 

 

(8

)

 

16,470

 

 

 

16,921

 

 

Share-based compensation

2,195

 

 

2,515

 

 

7,836

 

 

 

12,546

 

 

Non-operating (gains)/losses

(35,101

)

 

(128

)

 

(101

)

 

 

(35,330

)

 

Efficiency investments and other

(524

)

 

320

 

 

7,953

 

 

 

7,749

 

 

Transaction costs

235

 

 

223

 

 

368

 

 

 

826

 

 

Unsolicited Proposal Related Costs

 

 

 

 

36,748

 

 

 

36,748

 

 

Adjusted EBITDA

$

49,063

 

 

$

139,773

 

 

$

(12,536

)

 

$

 

$

176,300

 

 

 

For the Three Months Ended September 30, 2019

(in thousands)

PIRM

UWS

CORP

ELIM

 

CoreLogic

Net income/(loss) from continuing operations

$

19,366

 

 

$

70,642

 

 

$

(58,340

)

 

$

 

$

31,668

 

 

Income taxes

 

 

 

 

11,731

 

 

 

11,731

 

 

Depreciation and amortization

23,061

 

 

11,799

 

 

7,529

 

 

 

42,389

 

 

Interest (income)/expense, net

(61

)

 

61

 

 

19,503

 

 

 

19,503

 

 

Share-based compensation

1,528

 

 

1,586

 

 

5,691

 

 

 

8,805

 

 

Non-operating (gains)/losses

(190

)

 

278

 

 

(1,327

)

 

 

(1,239

)

 

Efficiency investments and other

237

 

 

304

 

 

5,827

 

 

 

6,368

 

 

Transaction costs

1,606

 

 

 

138

 

 

 

1,744

 

 

Amortization of acquired intangibles included in equity in losses of affiliates

77

 

 

 

 

 

 

77

 

 

Adjusted EBITDA

$

45,624

 

 

$

84,670

 

 

$

(9,248

)

 

$

 

$

121,046

 

 

CoreLogic, Inc.

Reconciliation of Adjusted EPS

(Unaudited)

 

For the Three Months Ended September 30,

(Diluted income per share)

2020

 

2019

Net income from continuing operations

$

1.26

 

 

 

$

0.39

 

 

Share-based compensation

0.15

 

 

 

0.11

 

 

Non-operating gains

(0.43

)

 

 

(0.02

)

 

Efficiency investments and other

0.10

 

 

 

0.08

 

 

Transaction costs

0.01

 

 

 

0.02

 

 

Depreciation and amortization of acquired software and intangibles

0.22

 

 

 

0.21

 

 

Unsolicited Proposal Related Costs

0.45

 

 

 

 

 

Income tax effect on adjustments

(0.55

)

 

 

(0.08

)

 

Adjusted EPS

$

1.21

 

 

 

$

0.71

 

 

Core Logic, Inc.

Reconciliation to Free Cash Flow

(Unaudited)

(in thousands)

 

For the Twelve Months Ended September 30, 2020

Net cash provided by operating activities - continuing operations

 

$

508,323

 

Purchases of property and equipment

 

(66,645

)

Purchases of capitalized data and other intangible assets

 

(38,353

)

Free cash flow

 

$

403,325

 


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