Upcoming AWS Coverage on Advisory Board Post-Earnings Results

LONDON, UK / ACCESSWIRE / March 14, 2017 / Active Wall St. announces its post-earnings coverage on The Priceline Group Inc. (NASDAQ: PCLN). The Company disclosed its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year fiscal 2016 (FY16) on February 27, 2017. The Norwalk, Connecticut-based Company's quarterly total revenues and non-GAAP EPS surged 17.4% and 32% y-o-y, respectively; both outperforming market consensus estimates. Register with us now for your free membership at:

http://www.activewallst.com/register/

Also trading within the Business Services industry as Priceline Group, The Advisory Board Co. (NASDAQ: ABCO), reported on February 28, 2017, its financial results for Q4 and twelve-month period ended December 31, 2016. AWS will be initiating a research report on Advisory Board in the coming days.

Today, AWS is promoting its earnings coverage on PCLN; touching on ABCO. Get our free coverage by signing up to:

http://www.activewallst.com/register/

Earnings Reviewed

During the quarter ended on December 31, 2016, Priceline's total revenues increased to $2.35 billion from $2.00 billion recorded at the end of Q4 FY15. Total revenue numbers for Q4 FY16 topped market consensus estimates of $2.33 billion. The Company's agency revenue rose to $1.74 billion in Q4 FY16 from $1.40 billion in Q4 FY15. Furthermore, advertising and other revenues increased during Q4 FY16 to $171.94 million from $153.49 million in Q4 FY15. However, Merchant revenues were down to $439.82 million in Q4 FY16 from $445.78 million in Q4 FY15.

The online booking service provider's net income increased to $673.91 million, or $13.47 per diluted share, in Q4 FY16 from $504.27 million, or $10.00 per diluted share, in Q4 FY15. Meanwhile, the Company's non-GAAP net income surged during Q4 FY16 to $710.85 million, or $14.21 per diluted share, from $540.65 million, or $10.73 per diluted share, in the previous year's same quarter. Wall Street had expected the Company to report non-GAAP net income of $13.06 per diluted share.

In FY16, Priceline's total revenue came in at $10.74 billion compared to $9.22 billion in the previous year. The Company reported net income of $2.13 billion, or $42.65 per diluted share, in FY16 versus net income $2.55 billion, or $49.45 per diluted share, in FY15. Furthermore, the Company's non-GAAP net income during FY16 was $3.29 billion, or $65.63 per diluted share, compared to $2.68 billion, or $51.92 per diluted share, in FY15.

Operational Metrics

For the reported quarter, the Company's GAAP and non-GAAP gross profit came in at $2.28 billion, up from $1.88 billion in the prior year's comparable quarter. The Company reported operating income of $790.36 million during Q4 FY16 compared to $657.90 million in Q4 FY15. The Company's adjusted EBITDA for Q4 FY16 stood at $868.62 million compared to $714.65 million in Q4 FY15. Furthermore, the Company's adjusted EBITDA as a percentage of non-GAAP gross profit improved to 38.2% in Q4 FY16 from 38.0% in the prior year's corresponding quarter.

Priceline's gross booking rose 25.8% y-o-y to $15.11 billion in Q4 FY16. Agency's gross booking in the reported quarter grew 25.5% y-o-y to $12.98 billion, while Merchant gross booking was up by 27.8% y-o-y to $2.13 billion in Q4 FY16. The Company sold 129.7 million room nights during Q4 FY16, up 31.0% y-o-y. Rental Car Days sales rose 14.04% during the quarter ended December 31, 2016, to14.0 million. However, airline ticket sales fell 4.3% y-o-y to 1.6 million in Q4 FY16.

Cash Flow & Balance Sheet

During Q4 FY16, Priceline's net cash provided by operating activities were $1.11 billion, up from $881.07 million in Q4 FY15. The Company's free cash flow during Q4 FY16 came in at $1.05 billion versus $833.79 million in Q4 FY15. At the close of books in the reported quarter, Priceline had $2.08 billion in cash and cash equivalents compared to $1.48 billion at the close of books on December 31, 2015. Furthermore, the Company reported long-term debt amounting to $6.17 billion as on December 31, 2016, marginally up from $6.16 billion as on December 31, 2015.

Share Repurchase

During FY16, the Company bought back 763,000 shares of its common stock for $1 billion. Furthermore, the Company's Board of Directors has recently approved a new share repurchase authorization of up to 2 billion of its common stock, which has increased the total open stock repurchase authorization to about $4 billion.

Outlook

In its guidance for Q1 FY17, Priceline's expects GAAP gross profit growth in the range of 9.5% to 14.5%. GAAP net income for the upcoming quarter is projected to be between $7.50 per share and $7.90 per share. Meanwhile, non-GAAP net income during Q1 FY17 is estimated to be in the $8.25 to $8.65 per share range. Furthermore, adjusted EBITDA for Q1 FY17 is anticipated to be between $550 million and $580 million.

Stock Performance

On Monday, March 13, 2017, the stock closed the trading session at $1,767.12, slightly up 0.73% from its previous closing price of $1,754.24. A total volume of 325.64 thousand shares have exchanged hands. Priceline Group's stock price surged 14.11% in the last three months, 24.98% in the past six months, and 33.18% in the previous twelve months. Furthermore, on a year to date basis, the stock soared 20.54%. Shares of the company have a PE ratio of 41.44 and have a market capitalization of $86.66 billion.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com

Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street